In Melbourne, all 9 sub-regions saw clearance rates improve when compared to both the previous quarter, and this quarter last year.
The Outer East was the best performer in terms of clearance rates (86.6 per cent), followed by the Mornington Peninsula (86.1 per cent) and the Inner South (80.6 per cent).
Melbourne’s Inner region saw the most auctions take place over the quarter (1,987), followed by the Inner South (1,406), Inner East (1,145) and North East (1,010).
Overall, Melbourne’s clearance rate was recorded at 77.5 per cent over the March quarter, up from 68.5 per cent over the previous quarter and 63.8 over the March 2020 quarter.
In terms of auction volumes, there were 9,065 homes taken to auction across the city over the 3 months to March, up from 7,415 over the December quarter and 8,882 over the March 2020 quarter.