Sunday 19th July 2009
The residential auction market is now into its tenth week with clearance rates in excess of 80 per cent, a factor that is likely to have an impact on prices. The extent to which the strong demand is affecting prices will be clearer next weekend when the REIV releases its June quarter median prices. At that stage we will see, from a price point of view, which segments of the market have been strongest.
This weekend there were 358 auctions reported to the REIV, of which 307 sold resulting in a clearance rate of 86 per cent. There were 51 properties passed in, 25 of which were passed in on a vendors bid.
The next three weekends will see a marginal increase in stock levels which will provide buyers with greater opportunities as we head into spring. The REIV is expecting 428 auction next weekend and 412 the weekend after.
TOTAL AUCTIONS
This week: 358
Last weekend: 293
This weekend last year: 483
S Sold at Auction: 247
SB Sold before Auction: 59
SA Sold after Auction: 1
Passed in: 51
Passed in on vendor’s bid: 25
Clearance rate: 86%
Postponed: 3
Withdrawn: 0
Auctions with no result: 18
Total Volume (Private Sales): $343.01mil
Clearance Rate: 86%
Median Price: $598,500
Clearance Rate: 88%
Median Price: $451,750
Clearance Rate: 71%
Median Price: $295,000
TOP 5 HOUSES
1. 2 Dickens Street, Glen Iris $1,700,000
2. 2 Ruby Street, Balwyn $1,700,000
3. 11 Strathconnan Place, Wheelers Hill $1,680,000
4. 20 St Georges Avenue, Mont Albert $1,610,000
5. 17 Edsall Street, Malvern $1,440,000
1. 93 Plantation Road, Corio $195,500
2. 24 Robjant Steet Street, Hampton Park $257,000
3. 27 Ridgeway , Melton West $265,000
4. 1723 Sydney Road, Campbellfield $280,000
5. 5 Appin Court, Meadow Heights $287,000
TOP 5 APARTMENTS
1. 410/250 St Kilda Road, Southbank $1,650,000
2. 601/1 Sovereign Point Court, Doncaster $1,415,000
3. 308/55 Beach Street, Port Melbourne $1,325,000
4. 41 Halstead Street, Caulfield North $980,000
5. 73 Mckinnon Road, Mckinnon $920,000
1. 15/87 Alma Road, St Kilda East $210,000
2. 14/552 Moreland Road, Brunswick West $225,400
3. 1/54 Carlyon Close, Melton West $235,000
4. 4/110 Rupert Street, Footscray West $235,500
5. 11/120 Primrose Street, Essendon $250,000
