Record numbers of homes have been sold by auction in Victoria this year. And winter has been busier than normal in Melbourne’s property listings. There were 611 auctions held this weekend across Melbourne, with 442 selling, and 169 being passed in resulting in a clearance rate of 72%. In addition to the auctions, there were also 386 private sales recorded over the weekend.

No one can deny that it has been a strong year for auctions in Melbourne. More than three out of every ten properties this year have gone to auction, whereas last year is was just over two out of ten. But could this mean that there will be fewer properties available over the spring? We are noticing that the number of properties becoming available for sale over spring is lower than previous years, which could make competition greater.

The clearance rates in Melbourne over the past four weeks has been increased slightly to an average of 74 per cent. And stock levels over winter have been healthy, with a higher percentage of homes going under the hammer than the same time last year. However with a gradual decrease in the numbers of properties coming onto the market, buyers will have to be more competitive to grab the keys to homes that tick all the boxes.

However, there is no cause for alarm. Just because the stock levels may be slightly lower, this shouldn’t cause rapid price growth, and we are expecting stock levels to improve over the coming weeks.