Regional auctions

The central Victorian town of Broadford was the surprise star of last year’s Regional Victorian auction market, the only postcode to record a perfect 100 per cent clearance rate.

There were 10 auctions in Broadford last year and all of them resulted in sales.

Not surprisingly, Regional Victoria’s most expensive town, Barwon Heads, also did well with 16 auctions resulting in 14 sales and an 87.5 percent clearance rate.

The Geelong suburb of Thomson recorded 13 sales and an impressive clearance rate of 86.7 percent from 15 auctions, while Ballarat Central had a clearance rate of 86 percent and 37 sales from 43 auctions.

Rounding out the top five top performers in terms of clearance rate in 2018 was Grovedale, with 46 auctions resulting in 38 selling under the hammer and an 82.6 per cent clearance rate.

Geelong suburbs featured in the top four Regional Victorian towns when it came to auction volumes in 2018. Belmont topped the list with 181 auctions resulting in 142 sales and a 78.5 per cent clearance rate.

Second was Geelong West with 125 auctions, followed by Highton with 115 and Newtown which hosted 102 auctions. Rounding out the top five was Torquay with 90 auctions.

Auctions are popular for high end properties in Regional Victoria. Last year, the top five Regional Victorian properties fetched prices of more than two million. The most expensive
property to sell under the hammer was a luxurious Metcalfe estate which netted $3.28 million, breaking its own record for the central Victorian town, having sold in 2009 for $2.27 million.

The second most expensive auction sale was a modern masterpiece in Mt Franklin which sold for $2.55 million (breaking Mt Franklin’s record), followed by a Woodend property with views of Hanging Rock and Mt Macedon which changed hands for $2.3 million in November.

Fifth spot was secured by a Trentham lifestyle retreat which sold for $2.2 million and rounding out the  top five auction sales was a red brick family home on more than half an acre in Geelong West that went for $2.17 million.