That’s good news for buyers who faced stiff competition last weekend, despite more than 1000 auctions being held last week.had five bidders and shot $70,000 past its reserve to a $1.47m sale.“I was expecting four bidders, maybe, but to get five was great. And I think we probably had more who didn’t have a chance to bid because it just went so fast.”668 Victoria St, North Melbourne,PropTrack recorded a 64 per cent clearance rate from 1138 auctions last week.
Barry Plant chief executive Mike McCarthy said the strength in the market was, ironically, coming from people being too worried by recent interest rate moves to list their home for sale.“Stock across the board is 25-30 per cent down … on the same time last year.”
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