Auction Market
There were 3,457 reported auctions in February 2024 with 2,608 of these sold representing a clearance rate of 75.4 per cent. There were a total of 35,687 reported auctions in Victoria in the past 12 months, with a 74.7 | clearance rate.
per cent
During the month, middle Melbourne recorded the highest number of auctions and clearance rate with 1,349 auctions and 77.8 per cent of them sold. Inner Melbourne followed with 1,075 auctions and 74.6 per cent clearance rate; while outer Melbourne sold 74.7 per cent from 909 auctions. Regional Victoria had 124 auctions with 62.9 per cent selling.
The local government areas of Monash (208), Darebin (204), Glen Eira (202), and Merri-bek (188) 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 66 reported auctions, followed by Craigieburn (47) and Bentleigh East (44). Reservoir also recorded the highest number of properties sold by auction (48), followed by Bentleigh East (41).
Ormond and Tullamarine recorded 100 per cent clearance rate over the month from 12 listings in each.
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, February 2024
Highest Number of Auction Sales, February 2024
SUBURB
SOLD
CLEARANCE RATE
SUBURB
SOLD
CLEARANCE RATE
ORMOND
TULLAMARINE
12
100.00%
RESERVOIR
48
72.70%
12
100.00%
BENTLEIGH EAST
41
93.20%
LALOR
21
95.50%
EPPING
33
89.20%
GLENROY
19
95.00%
CRAIGIEBURN
31
66.00%
CLAYTON SOUTH
17
94.40%
MOUNT WAVERLEY
30
76.90%
ROWVILLE
14
93.30%
CHELTENHAM
29
85.30%
BENTLEIGH EAST
41
93.20%
PRESTON
29
72.50%
ROSANNA
12
92.30%
RICHMOND
28
77.80%
SYDENHAM
11
91.70%
GLEN WAVERLEY
27
81.80%
BRUNSWICK EAST
20
90.90%
BRUNSWICK
26
86.70%
DONCASTER EAST
26
72.20%
NOTE: Includes sales between 01-29 February 2024 for suburbs with 10 or more auctions
