The Melbourne auction market has found its natural level for 2008 with the clearance rate maintaining a consistent position in the mid-sixties, a comparatively solid result given the fact more properties are on the market than last year. This weekend saw 597 auctions with 269 selling under the hammer resulting in a clearance rate of 63 per cent.
S Sold at Auction: 269
SB Sold before Auction: 98
SA Sold after Auction: 12
Passed in: 218
Passed in on vendor’s bid: 152
Clearance rate: 63%
Total Auctions
This week: 597
Last weekend: 567
This weekend last year: 450
PS Private Sales: 515
Total Volume (Auctions): $236.85mil
Total Volume (Private Sales): $222.33mil
Total Auctions Houses: 383
Clearance Rate: 62%
Median Price: $570,500
Total Auctions Flats/Apartments: 197
Clearance Rate: 64%
Median Price: $432,125
Total Auctions Vacant Land: 17
Clearance Rate: 82%
Median Price: $345,000
House Sales in Detail
5 most expensive houses
1. St Vincent Place, Albert Park $3,005,000
2. Point Nepean Road, Sorrento $3,000,000
3. Canadian Bay, Mount Eliza $2,520,000
4. Illawarra Road, Hawthorn $2,000,000
5. Carlyle Street, Hawthorn East $1,750,000
Top 5 bargain houses
1. Glenelg Street, Coolaroo $220,000
2. Hammond Drive, Epping $237,000
3. Somerset Drive, Sunshine North $240,000
4. Fuschia Place, Meadow Heights $254,000
5. Craigieburn Road, Craigieburn $255,250
Unit/Apartment Sales in Detail
5 most expensive units/apartments
1. Inkerman Road, Caulfield North $3,810,000
2. Albany Road, Toorak $1,410,000
3. Park Road, Middle Park $1,215,000
4. Sara Avenue, Brighton East $1,190,000
5. Burroughs Road, Balwyn $1,020,000
Top 5 bargain units/apartments
1. Grace Park Avenue, Springvale $159,000
2. Bliburg Street, Jacana $180,000
3. Whiltshire Drive, Roxburgh Park $210,000
4. Kingsville Street, Kingsville $225,000
5. Bank Street, Craigieburn $240,000
Information Provided by The Real Estate Institute of Victoria
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