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Strong Auction Weekend For Carnegie Real Estate

By Matt Hurlston

Real estate in Carnegie took its share of a strong sales weekend on October 5-6. A total of five out of six properties were sold under the hammer, with one remaining townhouse passed in.

Altogether, 712 properties up for auction in Melbourne this weekend, with an impressive 71 per cent clearance rate overall.

September’s strong auction results have continued on into October, as houses at auction cleared at 72 per cent, while flats and apartments achieved a 71 per cent clearance rate. Vacant land was lagging behind at 59 per cent.

With the average clearance rate once again reaching over 70 per cent, Melbourne’s auction market is continuing to boom, encouraging predictions of a bumper spring season.

Melbourne’s current property market is already performing above last years results. This same weekend in 2012 saw only 543 properties go under the hammer, well below the 712 experienced this year.

The impressive spring season is forecast to continue growing as over 900 auctions are already listed in Melbourne for Saturday October 12, with 1,010 auctions planned for the upcoming weekend.

If you’re interested in buying or selling Carnegie real estate at auction, get in touch with real estate professional Matthew Hurlston at Ray White Carnegie.

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