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Melbourne Auction Preview

By Matt Hurlston

Another big auction weekend is on the table for real estate in Carnegie and other suburbs in Melbourne, according to the Real Estate Institute of Victoria (REIV).

There are more than 1,500 auctions planned over Saturday November 30 and Sunday December 1, making this the second largest weekend volume in Melbourne's history.

This figure is particularly impressive as it confirms this week as the eighth weekend to record more than 1,000 auctions, compared to only four weekends with 1,000 plus listings in 2012.

The clearance rate has recently slipped from the lofty heights of previous weeks, dropping to 65 per cent last weekend, the lowest since April this year.

Over the past four weeks, the average clearance rate for Melbourne has fallen below 70 per cent

"While the clearance rate is trending lower, we are still seeing 500 to 600 homes being sold under the hammer every week," REIV CEO Enzo Raimondo said.

If you are looking to attend a Carnegie real estate auction this weekend, or are considering selling your home under the hammer, speak with Matthew Hurlston at Ray White Carnegie today.

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