Unexpected increases in interest rates by a number of major banks at the end of the week cooled buyers’ enthusiasm at auctions this weekend, with a clearance rate of 63 per cent being recorded, down slightly from 66 per cent last weekend. Overall, there were 385 auctions this weekend, of which 241 were sold and 144 were passed in (105 of which were passed in on a vendor bid).

TOTAL AUCTIONS
This week: 385
Last week: 397
Last year: 418

S Sold at Auction: 187
SB Sold before Auction: 52
SA Sold after Auction: 2

Passed in: 144
Passed in on vendor’s bid: 105

Clearance Rate: 63%
This weekend last year: 84%

Postponed: 1
Withdrawn: 1
Auctions with no result: 50

PS Private Sales: 527

Total Volume (Auctions): $132.08mil
Total Volume (Private Sales): $214.95mil

Total Auctions Houses: 262
Clearance Rate: 61%
Median Price: $570,000

Total Auctions Flats/Apartments: 110
Clearance Rate: 67%
Median Price: $400,000

Total Auctions Vacant Land: 13
Clearance Rate: 54%
Median Price: $240,000

House Sales in Detail
TOP 5 HOUSES
1. Lynch Street, Brighton $2,020,000
2. Elwood Street, Brighton $1,775,000
3. Avenue Athol, Canterbury $1,510,000
4. Murrumbeena Road, Murrumbeena $1,300,000
5. Moray Street, South Melbourne $1,275,000

TOP 5 BARGAIN HOUSES
1. Third Avenue, Rosebud $198,000
2. Warne Street, Coolaroo $210,000
3. Derrimut Street, Albion $220,000
4. Paisley Street, Coolaroo $230,000
5. Lyrebird Drive, Carrum Downs $254,000

Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. Beach Road, Parkdale $1,000,000
2. Sandford Street, Highett $800,000
3. Burnley Street, Richmond $696,500
4. Bedford Street, Collingwood $690,000
5.Ardoch Avenue, St Kilda East $667,000

TOP 5 BARGAIN APARTMENTS
1. Geelong Road, Footscray West $150,000
2. Newton Crescent, Lalor $165,000
3. High Street, Thomastown $168,000
4. King William Street, Reservoir $190,000
5. Hutcheson Street, Moonee Ponds $198,000

Information Provided by The Real Estate Institute of Vcitoria