Sunday 11 October 2009
The residential auction market recorded a result broadly in line with the overall performance this year, suggesting that increases in interest rates have already been included in purchasers’ expectations.
There were 599 auctions reported this weekend, of which 492 sold, resulting in a clearance rate of 82 per cent. There were 107 homes passed in, 54 of which were passed in on a vendor bid.
There are a similar number of auctions scheduled next week.
TOTAL AUCTIONS
This week: 599
Last Week: 486
Last year: 577
S Sold at Auction: 374
SB Sold before Auction: 118
SA Sold after Auction: 0
Passed in: 107
Passed in on vendor’s bid: 54
Clearance rate: 82%
Postponed: 0
Withdrawn: 2
Auctions with no result: 53
PS Private Sales: 759
Total Volume (Auctions): $347.57mil
Total Volume (Private Sales): $347.79mil
Total Auctions Houses: 394
Clearance Rate: 82%
Median Price: $673,000
Total Auctions Flats/Apartments: 182
Clearance Rate: 84%
Median Price: $503,800
Total Auctions Vacant Land: 23
Clearance Rate: 70%
Median Price: $635,500
House Sales in Detail
TOP 5 HOUSES
1. 140A Bonds Road, Lower Plenty $3,510,000
2. 2 Beaver Street, Malvern East $2,420,000
3. 17 Wills Street, Balwyn $2,280,000
4. 51 Mcgregor Street, Middle Park $2,270,000
5. 48-50 Greville Street, Prahran $2,100,000
TOP 5 BARGAIN HOUSES
1. 11 Beulah Street, Broadmeadows $189,000
2. 14 Hume Street, Sunbury $197,000
3. 51 Ridgeway Parade, Sunshine West $240,000
4. 32 Ballan Road, Werribee $256,000
5. 24 Montasell Avenue, Deer Park $275,000
Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 15 Little Tribe Street, South Melbourne $1,300,000
2. 14 Tanner Street, Richmond $1,250,000
3. 6 Pryor Place, Malvern $1,023,000
4. 26A Nottingham Street, Prahran $1,019,000
5. 11/97 Cruikshank Street, Port Melbourne $998,000
TOP 5 BARGAIN APARTMENTS
1. 2/33 Eldridge Street, Footscray $180,000
2. 3/79 Kernot Street, South Kingsville $222,450
3. 5/95 Melbourne Road, Williamstown $230,000
4. 3/745 Barkly Street, Footscray West $234,000
5. 16/32 Richardson Street, Essendon $262,000
Domain Property Advocates can assist you with buying, selling and renting your property. Call Warwick Brookes on 0412 340 611 for more information or go to www.domainadvocates.com.au
