Melbourne units outperform houses in auction clearance rates

Melbourne units are scoring more reliable sales results at auction than houses. Melbourne’s units are doing better at auction than houses, with recent weeks’ clearance rates giving apartments and townhouses as much as a 10 per cent advantage over stand-alone homes. Over three of the past four weeks the clearance rate has been higher for units than for houses. Yesterday, the preliminary clearance rate came in at 52.1 per cent for all sales, after 326 results were recorded. While sales results are still being gathered, a week ago the final results came in at 51.3 per cent for houses going under the hammer and 62 per cent for units. RELATED: Block finale in jeopardy over Victorian law change Ex-AFL power couple link to $20m Toorak market kick Bomber, Roo legends team up for $2.4m goal REA Group senior economist Anne Flaherty said with first-home buyers one of the key groups active in Melbourne at the moment and interest rates compressing other buyers into more affordable price brackets, there were likely just more buyers for the available units than there were for houses. “If we think about how much prices have moved, price variations for houses have been a little stronger and for uni...