In what has been described as the best result in two years, the weekend's (February 23-24) Victorian auctions recorded a clearance rate of 73 per cent.
The Real Estate Institute of Victoria (REIV) found that when compared to last weekend's 70 per cent, and the corresponding weekend from 2012 (57 per cent), the figures were really impressive.
Of the 903 properties that went under the hammer, 657 were sold and 246 were passed in, 145 of which were done so on a vendor bid.
REIV chief executive Enzo Raimondo said the weekend's clearance rate communicated growth in the market.
He explained: "There can be no doubt the improving trend that started last year has continued this year and it reflects improved consumer confidence."
The highest selling home was an East Melbourne estate which sold for $5.15 million, with the 139-year-old property comprising five bedrooms and six car spaces.
The most expensive apartment to be sold was a Brighton property that went under the hammer for $1.3 million.
A Tullamarine property took the title for the REIV's top bargain house, selling for $340,000, while the cheapest unit was found in Carlton - the Swanston Street dwelling sold for $185,000.
