Weekly Auction & Sales Results, Market Overview
Sunday 20 December 2009
This weekend’s auctions continued the well-established trend of strong demand and good results over the last 8 months with a clearance rate of 83 per cent recorded from the 629 reported results.
There were a total of 520 homes sold at auction and 109 were passed in, 60 of which were passed in on a vendor’s bid.
This weekend’s sales effectively brings to an end the year for residential property sales and 2009 will be looked back on as a very strong one, second only to 2007.
A straw poll of estate agents on Saturday showed a high level of confidence for 2010 with 26 per cent responding that the next 6 months would be stronger than the last six and 61 per cent thought it would be the same. There were 109 responses.
The overall clearance rate will be 81 per cent from just over 22,570 residential auctions. The total value of residential auction sales will be just over $12.1B compared to $10.2B in 2008.
TOTAL AUCTIONS
This week: 629
Yesterday: 10
Last Sunday: 42
This weekend last month: 739
This weekend last year: 258
S Sold at Auction: 405
SB Sold before Auction: 108
SA Sold after Auction: 7
Passed in: 109
Passed in on vendor’s bid: 60
Clearance rate: 83%
Postponed: 2
Withdrawn: 0
Auctions with no result: 51
PS Private Sales: 778
Total Volume (Auctions): $320.27mil
Total Volume (Private Sales): $351.76mil
Total Auctions Houses: 418
Clearance Rate: 82%
Median Price: $597,750
Total Auctions Flats/Apartments: 199
Clearance Rate: 84%
Median Price: $475,750
Total Auctions Vacant Land: 12
Clearance Rate: 92%
Median Price: $300,000
House Sales in Detail
TOP 5 HOUSES
1. 55 King Street, Essendon $2,100,000
2. 28 Winter Street, Malvern $1,915,000
3. 9 Milfay Avenue, Kew $1,800,000
4. 41 Christowel Street, Camberwell $1,780,000
5. 17 Holroyd Street, Kew $1,650,000
TOP 5 BARGAIN HOUSES
1. 12 Augusta Court, Skye $240,500
2. 4 Cherry Grove, Doveton $247,000
3. 23 Banksia Place, Meadow Heights $257,000
4. 23 Merrijig Crescent, Doreen $294,000
5. 12 Rosemary Court, Campbellfield $300,000
Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 101 Normanby Road, Kew $1,690,000
2. 1/7 Hood Street, Hampton $1,442,000
3. 25 Atkinson Close, Prahran $1,280,000
4. 21/102 Jollimont Road, East Melbourne $1,200,000
5. 19A Richmond Terrace, Richmond $1,001,000
TOP 5 BARGAIN APARTMENTS
1. 1/52A Forrest Street, Albion $218,000
2. 6/131 Glen Huntly Road, Elwood $225,150
3. 11/854 Pascoe Vale Road, Glenroy $238,000
4. 11/446 Albion Street, Brunswick West $240,000
5. 4/202A Pascoe Vale Road, Essendon $250,000
