Auction Market
There were 3,052 reported auctions in December 2023 with 2,149 of these sold representing a clearance rate of 70.4 per cent. There were a total of 34,758 reported auctions in Victoria in the past 12 months, with a 74.4 | clearance rate.
per cent
During the month, middle Melbourne recorded the highest number of auctions and clearance rate with 1,191 auctions and 74.6 per cent of them sold. Outer Melbourne followed with 892 auctions and 70.0 per cent clearance rate; while
inner Melbourne sold 68.7 per cent from 854 auctions. Regional Victoria had 115 auctions with 43.5 per cent selling.
The local government areas of Monash (187), Darebin (180), Whittlesea (177), and Merri-bek (163) 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 61 reported auctions, followed by Glen Waverley (51) and Craigieburn (45). Reservoir also recorded the highest number of properties sold by auction (42), followed by Glen Waverley (41), Craigieburn (32), and Epping (29).
Carlton North recorded 100 per cent clearance rate over the month from 10 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.
