Market has long weekend breather

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WHILE Melburnians were glued to the World Cup action in their lounge rooms, the real estate market had a much-needed rest after an active few weeks.

Out of a reported 268 auctions on the weekend, the clearance rate rose to 77 per cent— the highest since the start of May.

It is also the most number of auctions held on the Queen’s birthday weekend since at least 2003, continuing the trend of high stock levels this year.

There were 2286 auctions in February and 2931 in March, with both months recording a strong clearance rate of 85.6 per cent.

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