Weekly Auction & Sales Results, Market Overview
Sunday 15 November 2009
This weekend the number of homes sold by private sale has surpassed this time in 2007, a fact that highlights the strong results achieved in that segment of the market this year.
The clearance rate was 83 per cent, the 27th weekend in a row it has been 80 per cent or more.
There were 795 auctions reported to the REIV of which a total of 600 sold. There were 149 homes passed in of which 88 were passed in on a vendors bid.
Another indication of the high levels of competition at auctions this year has been the very low numbers of homes selling after (half this time last year), but on the day of the auction.
The REIV expects just over 1800 auctions over the next fortnight.
TOTAL AUCTIONS
This week: 795
Last Weekend: 503
This weekend last year: 715
S Sold at Auction: 600
SB Sold before Auction: 127
SA Sold after Auction: 6
Passed in: 149
Passed in on vendor’s bid: 88
Clearance rate: 83%
Postponed: 0
Withdrawn: 0
Auctions with no result: 131
PS Private Sales: 716
Total Volume (Auctions): $426.59mil
Total Volume (Private Sales): $330.41mil
Total Auctions Houses: 507
Clearance Rate: 80%
Median Price: $710,000
Total Auctions Flats/Apartments: 193
Clearance Rate: 82%
Median Price: $476,000
Total Auctions Vacant Land: 13
Clearance Rate: 62%
Median Price: $670,500
House Sales in Detail
TOP 5 HOUSES
1. 18 Winifred Crescent, Toorak $4,210,000
2. 20-22 Ferncroft Avenue, Malvern East $3,500,000
3. 25 Epping Street, Malvern East $2,390,000
4. 41 Ashburn Grove, Ashburton $2,315,000
5. 2 Springfield Avenue, Toorak $1,970,000
TOP 5 BARGAIN HOUSES
1. 21 Pearson Street, Bunyip $260,500
2. 65 Hatchlands Drive, Deer Park $297,500
3. 14 Leavesdon Avenue, Kealba $297,500
4. 35 Green Street, Noble Park $308,000
5. 81 Erinbank Crescent, Westmeadows $315,000
Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 612/1 Freshwater Place, Southbank $1,500,000
2. 1705/22 Albert Road, South Melbourne $1,275,000
3. 22/125 Oxford Street, Collingwood $955,000
4. 66B Green Street, Ivanhoe $895,000
5. 4/383 Glenferrie Road, Toorak $890,000
TOP 5 BARGAIN APARTMENTS
1. 1/11 Yarmouth Avenue, St Albans $185,000
2. 14/12 Stud Road, Dandenong $215,000
3. 2/14 Alamein Street, Noble Park $226,000
4. 12/42-44 Percy Street, Newport $230,000
5. 4/305 Cumberland Road, Pascoe Vale $245,000
