Auction Market
There were 3,479 reported auctions in September 2023 with 2,546 of these sold representing a clearance rate of 73.2 per cent. There were a total of 32,992 reported auctions in Victoria in the past 12 months, with a 73.5 per cent clearance rate.
During the month, middle Melbourne recorded the highest number of auctions and clearance rate with 1,368 auctions and 76.8 per cent of them sold. Inner Melbourne followed with 1,084 auctions and 72.4 per cent clearance rate; while outer Melbourne sold 71.1 per cent from 889 auctions. Regional Victoria had 138 auctions with 57.2 per cent selling.
The local government areas of Monash (227), Boroondara (221), Darebin (197), Merri-bek (196) and Glen Eira (193) had the highest number of auctions for the month.
At the suburb level, both Craigieburn and Glen Waverley had the highest number of reported auctions for the month, with 52 reported auctions each, followed by Reservoir (51) and Preston (49). Glen Waverley saw the highest number of properties sold by auction (43), followed by Mount Waverley (36) and Preston (35).
Three suburbs recorded 100 per cent clearance rate over the month (with at least 10 listings), led by Caulfield North with 13 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, September 2023
Highest Number of Auction Sales, September 2023
SUBURB
SOLD
CLEARANCE RATE
SUBURB
SOLD
CLEARANCE RATE
CAULFIELD NORTH
13
100.00%
GLEN WAVERLEY
43
82.70%
IVANHOE
10
100.00%
MOUNT WAVERLEY
36
76.60%
WARRNAMBOOL
10
100.00%
PRESTON
35
71.40%
BURWOOD EAST
17
94.40%
CRAIGIEBURN
34
65.40%
BLACKBURN
15
93.80%
NORTHCOTE
32
88.90%
FAWKNER
15
93.80%
HAWTHORN
30
85.70%
KNOXFIELD
13
92.90%
DONCASTER EAST
30
76.90%
ROWVILLE
13
92.90%
RESERVOIR
30
58.80%
BOX HILL NORTH
12
92.30%
BENTLEIGH EAST
29
67.40%
BULLEEN
12
92.30%
COBURG
28
84.80%
KEW
28
82.40%
