IT WAS ALL SYSTEMS GO FOR THE CITY’S SUPER (DUPER) SATURDAY BUT THE TRUE CLEARANCE RATE IS YET TOBE REVEALED.
As far as tests of the market go, they don’t come much bigger than yesterday. More than 1080 auctions were scheduled around the city, the highest number on a single day since March 2008.
And the market held its ground despite the huge amount of stock on offer, with the auction clearance rate at 68 per cent, according to the Real Estate Institute of Victoria. It was 65 per cent last Saturday for just 670 auctions.
But yesterday’s clearance rate is based on the results of the 951 sales gathered at the close of business yesterday— the outcome of another 130 auctions is yet to be reported.