This week’s one per cent rate cut has not had any obvious impact on the market today with the clearance rate remaining in the mid to low 50′s. Attention will soon shift to 2009 when it is hoped that the successive significant interest rate cuts and increased first home buyers grants encourage more buyers into the middle and affordable segments of the residential market.
There were 830 scheduled auctions this weekend with results being received for 741 of them with a clearance rate of 55 per cent.
Next weekend there are just over 700 auctions listed before a slower weekend before Christmas with around 200 scheduled.
TOTAL AUCTIONS
This week: 741
Last week: 861
Last year:1201
S Sold at Auction: 311
SB Sold before Auction: 87
SA Sold after Auction: 13
PI Passed in: 330
VB Passed in on vendor’s bid: 223
Clearance rate: 55%
This weekend last year: 79%
Postponed: 1
Withdrawn: 0
Auctions with no result: 65
PS Private Sales: 609
Total Volume (Auctions): $247.01mil
Total Volume (Private Sales): $241.44mil
Total Auctions Houses: 494
Clearance Rate: 54%
Median Price: $609,000
Total Auctions Flats/Apartments: 226
Clearance Rate: 61%
Median Price: $403,500
Total Auctions Vacant Land: 20
Clearance Rate: 30%
Median Price: $350,000
House Sales in Detail
TOP 5 HOUSES
1. 6 Haverbrack Avenue, Malvern $5,300,000
2. 210 Walsh Street, South Yarra $4,530,000
3. 17 Glenbervie Road, Toorak $2,600,000
4. 6 Cleeve Court, Toorak $2,502,500
5. 15 Murphy Street, Brighton $2,150,000
TOP 5 BARGAIN HOUSES
1. 124 Shaws Road, Werribee $152,500
2. 277 Jetty Road, Rosebud $175,000
3. 5 Hood Crescent, Sunbury $227,000
4. 12 Manuka Place, Meadow Heights $240,000
5. 94 Ripplebrook Drive, Broadmeadows $245,000
Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 8/18 North Road, Brighton $1,525,000
2. 2/43 Fourth Street, Black Rock $665,000
3. 9/25 Rockley Road, South Yarra $640,000
4. 7/633 Malvern Road, Toorak $621,000
5. 2/4 Howell Avenue, Beaumaris $620,000
TOP 5 BARGAIN APARTMENTS
1. 3/16 Bryan Avenue, Altona North $160,000
2. 3/19 Bishop Street, Kingsville $185,500
3. 7 Brearley Place, Roxburgh Park $204,500
4. 3/84 Gold Street, Collingwood $205,000
5. 11/106-108 Cross Street, Footscray West $220,000
Land Sales in Detail
TOP 5 BLOCKS
1. 66 Baker Street, Richmond $905,000
2. 321 Oban Road, Donvale $445,000
3. 22 Hughes Court, Bundoora $360,000
4. 3 Newman Close, Bundoora $320,000
5. 21 Abercrombie Grove, Epping $167,000
TOP 5 BARGAIN BLOCKS
1. 21 Abercrombie Grove, Epping $167,000
2. 3 Newman Close, Bundoora $320,000
3. 22 Hughes Court, Bundoora $360,000
4. 321 Oban Road, Donvale $445,000
5. 66 Baker Street, Richmond $905,000
If interested in learning more about this update please contact me today!
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