Weekly Auction & Sales Results, Market Overview
Sunday 28 February 2010
As the number of homes on offer at auction has increased each weekend this month the clearance rate has not varied to a great extent.
The weekend’s results remove any lingering doubts about the depth of demand in 2010. Buyers are very confident at the moment and find they have to compete to get the home that they want, which is leading to higher prices than expected and high clearance rates.
The clearance rate this weekend was 87 per cent from 967 reported auctions.
There were 838 homes sold and 129 passed in, 71 of those passed in on a vendor’s bid.
Auction numbers reduce next weekend due to the Labour Day holiday, to around 250 and then they increase the following weekend to around 730.
Enzo Raimondo
CEO REIV
TOTAL AUCTIONS
This week: 967
Last weekend: 720
This time last year: 587
S Sold at Auction: 661
SB Sold before Auction: 174
SA Sold after Auction: 3
Passed in: 129
Passed in on vendor’s bid: 71
Clearance rate: 87%
Postponed: 2
Withdrawn: 0
Auctions with no result: 93
PS Private Sales: 715
Total Volume (Auctions): $701.41mil
Total Volume (Private Sales): $324.1mil
Total Auctions Houses: 615
Clearance Rate: 86%
Median Price: $810,000
Total Value: $510,761,450
Total Auctions Flats/Apartments: 334
Clearance Rate: 88%
Median Price: $535,000
Total Value: $179,458,601
Total Auctions Vacant Land: 15
Clearance Rate: 80%
Median Price: $320,000
Total Value: $6,194,000
House Sales in Detail
TOP 5 HOUSES
1. 23 Loch Street, St Kilda West $4,100,000
2. 45 Dorrington Avenue, Glen Iris $3,500,000
3. 87 Sackville Street, Kew $3,305,000
4. 2A Rippon Grove, Brighton $3,200,000
5. 1 Collis Street, Brighton East $2,500,000
TOP 5 BARGAIN HOUSES
1. 25 Monash Street, Melton South $240,000
2. 13 Hilltop Street, Herne Hill $245,500
3. 56 Kookaburra Avenue, Werribee $266,500
4. 25 Discovery Close, Craigieburn $270,500
5. 8/32 Dwyer Street, Clifton Hill $310,500
Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 3/249 Beaconsfield Parade, Middle Park $2,685,000
2. 17B Clendon Road, Toorak $1,810,000
3. 1E Fulham Avenue, South Yarra $1,600,000
4. 2/404 Toorak Road, Toorak $1,580,000
5. 22A Miami Street, Hawthorn East $1,555,000
TOP 5 BARGAIN APARTMENTS
1. 14/1-3 O’Connell Street, North Melbourne $204,750
2. 7/355 Blackshaws Road, Altona North $208,000
3. 86/145 Canterbury Road, Toorak $211,000
4. 32/422 Cardigan Street, Carlton $267,000
5. 1/288 St Georges Road, Thornbury $271,000
