Strong buyer activity at Melbourne home auctions continued unabated at the weekend with another solid clearance rate of 70.2 per cent.
Auction buyer activity in Melbourne has remained at the same level over July despite a 10 per cent increase in the number of listings compared with last July. With increased listing numbers and a clearance rate 10 per cent higher than a year ago, the usually quieter mid-winter season clearly isn't turning buyers off.
This increased buyer activity is translating into strong price growth as the Melbourne market continues to play catch-up with its house price peak, which was recorded during the boom of three years ago.
Melbourne's median house price rose by 5 per cent over the June quarter. Over the 2013 financial year it is up 6.1 per cent.
Please refer to "The Age" for further details