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Weekly Auction & Sales Results, Market Overview

 


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Withdrawn: 2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

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