The first "Super Saturday" of 2017 delivered a strong clearance rate, indicating a very healthy property market. A new record has been set for the highest number of auctions held on a single February weekend.
Australia Pacific's Commentary: " Super Saturdays" used to be the domain of Spring but such is the appeal of Melbourne property that is has spread into the height of summer. A strong vote of confidence in our market
There were 1198 auctions in Melbourne, with 983 selling and 215 being passed in, 85 of those on a vendor bid. In addition to the auctions, there were also an additional 297 private sales. The result was a solid 82% clearance rate
Australia Pacific's Commentary: As extraordinary as 1200 auctions is, the 82% clearance rate underscores Melbourne as Australian auction capital
Interestingly, Core Logic has reported that 33 Melbourne suburbs have achieved a 100% clearance rates for 2017.
Australia Pacific's Commentary: Demonstrates investors no longer need to be tied to blue chip inner suburbs to find high performance, indeed the middle band and even middle/ outer suburbs are among stand out performers.
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