Auction Market
There were 3,144 reported auctions in April 2024 with 2,322 of these sold representing a clearance rate of 73.9 per cent. There were a total of 37,171 reported auctions in Victoria in the past 12 months, with a 74.3 per cent clearance rate.
During the month, middle Melbourne recorded the highest number of auctions and clearance rate with 1,249 auctions and 78.0 per cent of them sold. Outer Melbourne followed with 919 auctions and a 71.6 per cent clearance rate; while inner Melbourne sold 73.9 per cent from 843 auctions. Regional Victoria had 133 auctions with 50.4 per cent selling.
The local government areas of Merri-bek (194), Monash (193), Whittlesea (190), and Glen Eira (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 64 reported auctions, followed by Craigieburn (54), Cheltenham (40), and Carnegie (38). Reservoir also recorded the highest number of properties sold by auction (44), followed by Craigieburn (34).
Seven suburbs recorded 100 per cent clearance rate over the month, led by Ferntree Gully 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.
