Melbourne Auction Property Hot Spots

THIRTEEN Melbourne suburbs have emerged as 2010 auction hot spots. The suburbs, which include Bentleigh, Newport and Essendon, have recorded a 100 per cent auction success rate, according to the Real Estate Institute of Victoria. Suburbs: Malvern East, Preston, Brunswick, Beetleigh, Elwood, Ferntree Gully, Newport, Thornbury, Bentleigh East, Mulgrave, Noble Park, Wheelers Hill. "Every house that has been put up for auction in these suburbs this year has sold," REIV research manager Robert Larocca said. "It's early days in the property market but it is clear already that demand is very strong this year." The auction market ended last year with a clearance rate ... read more...