With around 2700 auctions expected over the next three weekends conditions shifted slightly in favour of buyers again today with a clearance rate of 61 per cent reached, down from last weekend’s 63 per cent.
There was a total of 777 auctions reported this weekend of which a total 474 sold and 303 were passed in, 197 of those on a vendors bid.
Further results will be reported tomorrow.
The result contrasts to this weekend last year when there was 1073 auctions and a clearance rate of 85 per cent.
Enzo Raimondo
CEO REIV
TOTAL AUCTIONS
This week: 777
Last Weekend: 918
This weekend last year: 1012
S Sold at Auction: 400
SB Sold before Auction: 68
SA Sold after Auction: 6
Passed in: 303
Passed in on vendor’s bid: 197
Clearance rate: 61%
Postponed: 3
Withdrawn: 4
Auctions with no result: 113
PS Private Sales: 618
Total Volume (Auctions): $343.03mil
Total Volume (Private Sales): $306.39mil
Total Auctions Houses: 512
Clearance Rate: 62%
Median Price: $745,000
Total Value: $260,445,905
Total Auctions Flats/Apartments: 254
Clearance Rate: 59%
Median Price: $489,000
Total Value: $78,344,330
Total Auctions Vacant Land: 11
Clearance Rate: 73%
Median Price: $509,000
Total Value: $4,244,000
House Sales in Detail
TOP 5 HOUSES
1. 26 Chaucer Crescent, Canterbury $2,640,000
2. 61 Abbott Street, Sandringham $2,025,000
3. 54 Electra Street, Williamstown $1,950,000
4. 5 Claremont Crescent, Canterbury $1,860,000
5. 6 Munro Street, Brighton $1,830,000
TOP 5 BARGAIN HOUSES
1. 73 Highbury Road, Tootgarook $322,500
2. 60 Calendula Circuit, Epping $332,500
3. 310 Findon Road, Epping $333,000
4. 164 Forest Road, Ferntree Gully $337,500
5. 9 Beaconsfield-Emerald Road, Emerald $348,000
Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 2 Bruce Street, Beaumaris $1,331,000
2. 4/32-34 Kerr Street, Fitzroy $1,100,000
3. 48A Rosedale Road, Glen Iris $900,000
4. 56 Clifton Street, Balwyn North $860,000
5. 1/130 Nepean Highway, Aspendale $835,000
TOP 5 BARGAIN APARTMENTS
1. 109/903 Dandenong Road, Malvern East $133,000
2. 15/55 Clow Street, Dandenong $202,000
3. 2/38 Spring Street, Thomastown $228,000
4. 18/44 Kneen Street, Fitzroy North $230,000
5. 610/100 Exhibition Street, Melbourne $250,000
SOURCE: REIV
REIV: Weekly Auction & Sales Results, Market Overview Saturday 19th & Sunday 20th March 2011
Auctioneer John Bongiorno takes bids for 1/2 Jolmont Terrace, East Melbourne, on Saturday. Photo: Pat Scala
From a city wide perspective the Melbourne residential auction market is very consistent right now with each weekend looking like the last.
This weekend the clearance rate is 66 per cent and over the last 4 weekends it has been between 63 and 67 per cent.
There was a total of 881 auctions reported of which 579 sold, 302 were passed in, 191 of those on a vendors bid.
On this weekend last year there were 889 auctions and a clearance rate of 87 per cent.
The REIV is expecting over 800 auctions on each of the next three weekends, continuing this weekends solid number of listings.
Enzo Raimondo
CEO REIV
TOTAL AUCTIONS
This week: 881
Last Weekend: 249
This weekend last year: 889
S Sold at Auction: 467
SB Sold before Auction: 107
SA Sold after Auction: 5
Passed in: 302
Passed in on vendor’s bid: 191
Clearance rate: 66%
Postponed: 8
Withdrawn: 6
Auctions with no result: 100
PS Private Sales: 558
Total Volume (Auctions): $449.14mil
Total Volume (Private Sales): $279.89mil
Total Auctions Houses: 550
Clearance Rate: 66%
Median Price: $780,000
Total Value: $324,783,438
Total Auctions Flats/Apartments: 312
Clearance Rate: 68%
Median Price: $520,500
Total Value: $119,831,138
Total Auctions Vacant Land: 19
Clearance Rate: 37%
Median Price: $390,000
Total Value: $4,530,000
House Sales in Detail
TOP 5 HOUSES
1. 15 Victor Avenue, Kew $4,100,000
2. 3 Merrion Place, Kew $2,810,000
3. 57 Devon Street, Eaglemont $2,530,000
4. 123 Riversdale Road, Hawthorn $2,515,000
5. 737 Orrong Road, Toorak $2,510,000
TOP 5 BARGAIN HOUSES
1. 16 Harbour Way, Blind Bight $280,000
2. 64 Bardsley Street, Sunshine West $318,000
3. 31 Walsh Street, Broadmeadows $320,000
4. 31 Tarene Street, Dandenong South $321,000
5. 42 Margate Avenue, Frankston $330,000
Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 2 Davis Avenue, Camberwell $1,711,000
2. 2/29 Lewisham Road, Windsor $1,290,000
3. 1/20 Findon Street, Hawthorn $1,285,000
4. 604/216 Rouse Street, Port Melbourne $1,225,000
5. 2/32-34 Kerr Street, Fitzroy $1,150,000
TOP 5 BARGAIN APARTMENTS
1. 11/33 Rae Street, Fitzroy North $190,500
2. 2/50 Elonera Road, Noble Park North $280,000
3. 12/88 Victoria Street, Williamstown $285,000
4. 1/72 Dover Street, Flemington $285,000
5. 7/280 Cardigan Street, Carlton $286,500
SOURCE: REIV
19 Hamilton Road Malvern SOLD at auction $4,357,000 by Marshall White & Co
From a city wide perspective the Melbourne residential auction market is very consistent right now with each weekend looking like the last.
This weekend the clearance rate is 67 per cent and over the last 4 weekends it has been between 63 and 67 per cent.
There was a total of 816 auctions reported of which 546 sold, 270 were passed in, 170 of those on a vendors bid.
On this weekend last year there were 889 auctions and a clearance rate of 87 per cent.
The REIV is expecting over 800 auctions on each of the next three weekends, continuing this weekends solid number of listings.
Enzo Raimondo
CEO REIV
TOTAL AUCTIONS
This week: 816
Last Weekend: 244
This weekend last year: 848
S Sold at Auction: 437
SB Sold before Auction: 105
SA Sold after Auction: 4
Passed in: 270
Passed in on vendor’s bid: 170
Clearance rate: 67%
Postponed: 2
Withdrawn: 1
Auctions with no result: 128
PS Private Sales: 565
Total Volume (Auctions): $421.07mil
Total Volume (Private Sales): $282.91mil
Total Auctions Houses: 508
Clearance Rate: 67%
Median Price: $770,000
Total Value: $302,621,938
Total Auctions Flats/Apartments: 293
Clearance Rate: 69%
Median Price: $525,250
Total Value: $114,217,138
Total Auctions Vacant Land: 15
Clearance Rate: 40%
Median Price: $515,000
Total Value: $4,227,500
House Sales in Detail
TOP 5 HOUSES
1. 15 Victor Avenue, Kew $4,100,000
2. 3 Merrion Place, Kew $2,810,000
3. 57 Devon Street, Eaglemont $2,530,000
4. 123 Riversdale Road, Hawthorn $2,515,000
5. 737 Orrong Road, Toorak $2,510,000
TOP 5 BARGAIN HOUSES
1. 64 Bardsley Street, Sunshine West $318,000
2. 31 Walsh Street, Broadmeadows $320,000
3. 31 Tarene Street, Dandenong South $321,000
4. 42 Margate Avenue, Frankston $330,000
5. 21 Millewa Crescent, Dallas $338,000
Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 2 Davis Avenue, Camberwell $1,711,000
2. 2/29 Lewisham Road, Windsor $1,290,000
3. 1/20 Findon Street, Hawthorn $1,285,000
4. 604/216 Rouse Street, Port Melbourne $1,225,000
5. 2/32-34 Kerr Street, Fitzroy $1,150,000
TOP 5 BARGAIN APARTMENTS
1. 11/33 Rae Street, Fitzroy North $190,500
2. 2/50 Elonera Road, Noble Park North $280,000
3. 12/88 Victoria Street, Williamstown $285,000
4. 1/72 Dover Street, Flemington $285,000
5. 7/280 Cardigan Street, Carlton $286,500
SOURCE: REIV
