The latest happenings in the Melbourne property market. For our Essays and The Secret Agent Report, see our Research page.

Auction Wrap – June 19th & 20th 2010

With a record number of auctions this weekend, the clearance rate fell to 68%, the lowest in some time.

There were 942 auctions that took place with this weekend of which 638 sold and 304 passed in.

There is a noticeable pull back of results $1,000,000 plus.

Auctions we attended this weekend were overall very quiet, like 471 Canning Street, Carlton North which attracted a large crowd, but no bids and passed in at $1,950,000.

Auction numbers will continue to be high over the next few weekends with 880 expected next weekend.

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