The clearance rate for auctions in 2011 was 56 per cent compared to 71 per cent last year, 81 per cent in 2009 and 63 per cent in 2008.
The highest clearance rate in any week was 65 per cent in the week ending 13 March and the lowest was 49 per cent in the week ending 20 November.
As at 19 December there had been 28,807 auctions held in total. The number of auctions exceeds the number held in both 2009 and 2008 but is fewer than 2010, when there were 32,497 residential auctions.
The total value of auction sales was $11.6 billion compared to $16.8b in 2010, $12.1b in 2009 and $10.2b in 2008.
From an individual suburb perspective, the highest clearance rate was recorded in Wantirna South, where 82 per cent of homes sold. It was followed by Abbotsford, Balaclava, Gladstone Park and Warrandyte as the top five suburbs when ranked by clearance rate.
However, from the perspective of total sales by auction, Richmond had the most, with 336 sales at auction and a very strong clearance rate of 73 per cent. It was followed by Melbourne, Bentleigh East, Hawthorn and Reservoir as the top five suburbs when ranked by numbers sold.
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2011 Auction Statistics
Total Auctions: 28,807
Sold at Auction: 13,179
Sold before Auction: 2,803
Sold after Auction: 134
Passed in: 4,699
Passed in on vendor’s bid: 7,992
Clearance rate: 56%
Total Volume (Auctions): $11,602.37 mil
Tags: melbourne auction results, Melbourne Property, Melbourne Real Estate, Week End Auction and Sales results
