Auction Market
There were 4,265 reported auctions in October 2023 with 3,122 of these sold representing a clearance rate of 73.2 per cent. There were a total of 33,887 reported auctions in Victoria in the past 12 months, with a 73.8 per cent clearance rate.
During the month, middle Melbourne recorded the highest number of auctions and clearance rate with 1,714 auctions and 76.6 per cent of them sold. Inner Melbourne followed with 1,340 auctions and 70.1 per cent clearance rate; while outer Melbourne sold 74.6 per cent from 1,038 auctions. Regional Victoria had 173 auctions with 54.9 per cent selling.
The local government areas of Glen Eira (287), Monash (278), Darebin (260), and Boroondara (259) had the highest number of auctions for the month.
At the suburb level, Reservoir had the highest number of reported auctions for the month, with 81 reported auctions, followed by Mount Waverley (67) and Glen Waverley (62). Reservoir also recorded the highest number of properties sold by auction (61), followed by Glen Waverley (52) and Mount Waverley (50). Seven suburbs recorded 100 per cent clearance rate over the month (with at least 10 listings), led by Warrnambool with 17 listings.
It should be noted that the REIV continues to receive results several weeks after the date of auction which may lead to revisions in auction data.
Auction Market
Highest Clearance Rates, October 2023
Highest Number of Auction Sales, October 2023
SUBURB
SOLD
CLEARANCE RATE
SUBURB
SOLD
CLEARANCE RATE
WARRNAMBOOL
AIRPORT WEST
ROWVILLE
ARMADALE
ASHWOOD
17
100.00%
RESERVOIR
61
75.30%
15
100.00%
GLEN WAVERLEY
52
83.90%
15
100.00%
MOUNT WAVERLEY
50
74.60%
13
100.00%
BENTLEIGH EAST
49
86.00%
13
100.00%
PRESTON
44
78.60%
SEDDON
10
100.00%
DONCASTER EAST
38
76.00%
TULLAMARINE
10
100.00%
RICHMOND
36
73.50%
FERNTREE GULLY
29
96.70%
EPPING
34
85.00%
KEYSBOROUGH
21
95.50%
CRAIGIEBURN
33
71.70%
WANTIRNA
17
94.40%
KEW
32
76.20%
NOTE: Includes sales between 01-31 October 2023 for suburbs with 10 or more auctions
