Weekly Auction & Sales Results, Market Overview
Sunday April 18th 2010
The REIV March quarter Property Update demonstrated the health of the residential auction market with the median price of houses sold at auction increasing by 4.4 per cent to $720,000 compared to a 2 per cent increase for those sold by private sale. The same conditions were apparent in the unit and apartment market where the median for those sold by auction increased by 3.5 per cent compared to 2.6 per cent for those sold by private sale.
The clearance rate this weekend was 84 per cent which compares very well to this weekend last year when 437 auctions were held and a clearance rate of 78 per cent was recorded.
There were 875 auctions reported today of which 739 sold and 136 were passed in, 74 of those on a vendor’s bid. There have now been twice as many homes sold by auction as this time in 2009.
Auctions numbers dip to 476 next weekend due to Anzac Day before rising again to 840 the weekend after.
Enzo Raimondo
CEO REIV
CEO REIV
TOTAL AUCTIONS
This week: 875
Last weekend: 492
This time last year: 437
S Sold at Auction: 605
SB Sold before Auction: 132
SA Sold after Auction: 2
Passed in: 136
Passed in on vendor’s bid: 74
Clearance rate: 84%
Postponed: 8
Withdrawn: 0
PS Private Sales: 749
Total Volume (Auctions): $548.74mil
Total Volume (Private Sales): $354.28mil
Total Auctions Houses: 557
Clearance Rate: 85%
Median Price: $712,250
Total Value: $380,726,738
Total Auctions Flats/Apartments: 303
Clearance Rate: 85%
Median Price: $558,000
Total Value: $151,147,329
Total Auctions Vacant Land: 14
Clearance Rate: 71%
Median Price: $542,500
Total Value: $16,110,000
House Sales in Detail
TOP 5 HOUSES
1. 73 & 75 Turner Street, Abbotsford $2,435,000
2. 41 Hawdon Street, Eaglemont $2,350,000
3. 5 Ross Street, Kew $2,260,000
4. 464-466 Gilbert Road, Preston $2,220,000
5. 17 Wentworth Avenue, Canterbury $2,150,000
TOP 5 BARGAIN HOUSES
1. 20 Linlithgow Way, Melton West $266,500
2. 40 Silverdene Avenue, Sydenham $300,000
3. 2 Werona Court, Meadow Heights $309,500
4. 81 Wattleglen Street, Craigieburn $311,000
5. 5 Olive Court, Epping $320,000
Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 24 Meredith Street, Malvern $1,720,000
2. 8/8 Waltham Place, Richmond $1,400,000
3. 24/322 Albert Street, East Melbourne $1,355,000
4. 50A Porter Street, Prahran $1,300,000
5. 31 Kinane Street, Brighton $1,295,000
TOP 5 BARGAIN APARTMENTS
1. 19/437 Ballarat Road, Sunshine $195,000
2. 5/355 Blackshaws Road, Altona North $234,000
3. 1/12 William Avenue, Dandenong $260,000
4. 12 Elinda Place, Reservoir $265,000
5. 2/4 Bronco Court, Meadow Heights $281,000
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Tags: apartment market, APARTMENTS, Auction, auction market, cent, clearance rate, Houses, residential auction, ross street, Value
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