Weekly Auction & Sales Results, Market Overview
Sunday 29 November 2009
As a result of the substantial increase in the number of auctions held this weekend, the balance shifted slightly back towards buyers with a clearance rate of 78% being recorded.
Due to higher stock levels at this time of the year, it is typical for buyers to have a better opportunity to secure the home of their choice.
There were 1046 auctions reported to the REIV this weekend of which a total 816 sold.
Of the 230 homes passed in, 145 were passed in on a vendors bid.
A total of 751 private sales were reported this week.
There are around 2,500 auctions scheduled on the three remaining weekends before Christmas.
TOTAL AUCTIONS
This week: 1046
Last weekend: 739
This time last year: 861
S Sold at Auction: 657
SB Sold before Auction: 155
SA Sold after Auction: 4
Passed in: 230
Passed in on vendor’s bid: 145
Clearance rate: 78%
Postponed: 2
Withdrawn: 2
Auctions with no result: 85
PS Private Sales: 751
Total Volume (Auctions): $612.56mil
Total Volume (Private Sales): $330.43mil
Total Auctions Houses: 722
Clearance Rate: 78%
Median Price: $722,000
Total Auctions Flats/Apartments: 297
Clearance Rate: 77%
Median Price: $502,250
Total Auctions Vacant Land: 26
Clearance Rate: 81%
Median Price: $566,000
House Sales in Detail
TOP 5 HOUSES
1. 34 Ferrars Place, South Melbourne $4,710,000
2. 14 Riversdale Court, Hawthorn $4,440,000
3. 44 St Georges Road, Toorak $2,710,000
4. 8 Glen Drive, Eaglemont $2,710,000
5. 111 Hyslops Road, Main Ridge $2,500,000
TOP 5 BARGAIN HOUSES
1. 74 Hilton Way, Melton West $236,500
2. 67 Karingal Drive, Frankston $250,000
3. 30 Dudley Street, Belmont $253,000
4. 27 Carrington Avenue, Seaford $290,000
5. 108 Rokewood Crescent, Meadow Heights $294,000
Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 24 Northcote Road, Armadale $2,520,000
2. 33 St Georges Road, Toorak $1,850,000
3. 30 Wave Street, Elwood $1,755,000
4. 3/11 Monomeath Avenue, Toorak $1,300,000
5. 14A Devorgilla Avenue, Toorak $1,250,000
TOP 5 BARGAIN APARTMENTS
1. 3/47 Collins Street, Geelong West $201,000
2. 7/33 Eldridge Street, Footscray $204,000
3. 10/5-7 Brindisi Street, Mentone $242,000
4. 8/99 Melbourne Road, Williamstown $250,000
5. 5/222 Gordon Street, Footscray $255,000
