Last weekend, Melbourne had 697 properties for auction, of which 365 sold, a clearance rate of 52% which is considered low.
The median house price sold was $690,000.
The lowest clearance rate was on the 14 vacant land lots for auction, with only 21% sold at a median price of $290,000
More info http://www.reiv.com.au/en/Property-Research.aspx
