New Real Estate Institute of Victoria figures show 17,638 auctions have been held in Melbourne since January 1, hammering the previous half-year benchmark of 16,654 set in 2014.

They also produced a record number of auction sales, 13,978, trumping 2015’s previously unbeaten total of 13,092.  This equates to a 79 per cent clearance rate — the equal highest recorded in Melbourne at the halfway point of a year, on par with 2015 and 2010.

REIV acting President Richard Simpson said the figures once again confirmed the city’s status as the auction capital of the world.  “Competition for homes is boosting auction activity in areas that have traditionally been known for private sales, such as regional Victoria and the city’s outer suburbs,” he said

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