Victoria's auction clearance rates down for June: REIV

Victoria's auction clearance rates down for June: REIV
Jessie RichardsonJune 30, 2014

Victoria's auction clearance rate decreased to 74.6% for June, down from 75.4% in May.

For June, the strongest region was Melbourne's Outer East. Data from the Real Estate Institute of Victoria (REIV) shows that the area had a June clearance rate of 82.7%, up from May's result of 80.5%.

The weakest auction results were recorded in the West, where only 65.1% of homes auctioned in June sold at auction. The previous month's result was slightly better, with a clearance rate of 65.3%.

The biggest monthly improvement (on a percentage point basis) was recorded in North. There, the May clearance rate was 67.5%. In June, 73.6% of homes auctioned sold at auction. Victoria's North East region saw the largest drop, with the clearance rate falling from 78.4% to 72.5%. 

This weekend saw strong clearance rates in Victoria, with all regions except the North and West recording a higher proportion of auction sales than were recorded at the same time last year. The total clearance rate for this weekend (29 June) was 75.0%. 

Region
June clearance rate
May clearance rate
Inner Urban
73.2%
77.5%
Inner East
78.1%
78.8%
Inner South
75.0%
78.5%
South East
72.3%
72.2%
Outer East
81.8%
80.5%
North East
72.5%
78.4%
North
71.3%
67.5%
West
65.8%
65.3%

This weekend's clearance rates by region, from REIV:

Region
29 June 2014
30 June 2013
 
Weekend Total
Sold
%Sold
Weekend Total
Sold
%Sold
Inner Urban
28
22
79.0% 
24
18
75.0%
Inner East
17
14 
82.0%
31
22 
71.0% 
Inner South
10
 9
90.0%
50.0%
South East
78 
55 
71.0% 
80
54
68.0% 
Outer East
118
102
86.0% 
97
77 
79.0% 
North East 
34
29 
85.0% 
39 
29 
74.0% 
North
48
38 
79.0%
37
32 
86.0% 
West 
74 
46 
62.0% 
63
44 
70.0% 

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