February 2014 auction sales strength sustained through Sydney and Melbourne's super Saturday

Melbourne notched up a preliminary 75% clearance rate after 1044 auctions were reported to the REIV today. Some 1320 auctions were scheduled.

It compared to the revised 70 per cent tally for last weekend - down from the initial 72% figure - and 72 per cent the same  weekend last year.

Enzo Raimondo, the REIV chief, said next weekend the REIV expects around 1,290 auctions.

APM reported a preliminary 86% success rate across Sydney, from 537 results. There were 775 plus scheduled Sydney auctions.

For the third successive weekend Sydney's revised prior weekend tally dipped to just below 80%, a none-the-less remarkable result. 

There are 666 scheduled auctions next weekend, March 1 across Sydney, according to APM senior economist Dr Andrew Wilson.

Melbourne's dearest sale was 29 Sussex Street, Brighton at $3,600,000.

Sydney's was a bullish Kirribilli apartment result.

Melbourne's cheapest sale was $150,000 for 1957-1963 Western Highway, Rockbank, near Melton.

A two bedroom unit at 20/34 Addlestone Road, Merrylands selling at $318,000 was Sydney's cheapest recorded sale.

It was the first Sydney-Melbourne super Saturday combo for 2014 so media interest was intense. More than 700 auctions in Sydney and 1000 in Melbourne constitutes a so-called super Saturday.

New auction season sees fierce bidding on first Super Saturday. has more


Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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