Weekly Auction & Sales Results, Market Overview
Saturday 2nd & Sunday 3rd April 2011
This weekends clearance rate is 61 per cent, confirming that demand and sentiment has not changed since Melbourne Cup day in 2010 when the Reserve Bank last increased interest rates. At that time the clearance rate dropped from the high 60′s to the mid to low 60′s and that is where is has stayed. Whilst the number of auctions is still high a healthy number of homes are selling.
This weekend there has been 722 auctions reported of which a total of 443 sold and 279 were passed in, 181 of those on a vendors bid.
This weekend last year saw only 50 auctions so it is not a useful comparison, this weekend in 2009 saw a much lower 532 auctions with a clearance rate of 78 per cent.
On each weekend between now and Easter the REIV expects around 1000 auctions.
Enzo Raimondo
CEO REIV
TOTAL AUCTIONS
This week: 722
Last Weekend: 874
This weekend last year: 50
S Sold at Auction: 361
SB Sold before Auction: 79
SA Sold after Auction: 3
Passed in: 279
Passed in on vendor’s bid: 181
Clearance rate: 61%
Postponed: 1
Withdrawn: 6
Auctions with no result: 117
PS Private Sales: 693
Total Volume (Auctions): $377.1mil
Total Volume (Private Sales): $339.61mil
Total Auctions Houses: 484
Clearance Rate: 62%
Median Price: $810,000
Total Value: $289,032,250
Total Auctions Flats/Apartments: 226
Clearance Rate: 60%
Median Price: $545,000
Total Value: $82,777,600
Total Auctions Vacant Land: 12
Clearance Rate: 58%
Median Price: $711,500
Total Value: $5,292,500
House Sales in Detail
TOP 5 HOUSES
1. 5 Harvey Street, Malvern $2,535,000
2. 8 Woods Street, Balwyn $2,510,000
3. 1A Balmoral Avenue, Kew $2,460,000
4. 5 Dalriada Street, Toorak $2,450,000
5. 66 Hawksburn Road, South Yarra $2,440,000
TOP 5 BARGAIN HOUSES
1. 5 Gundaroo Square, Werribee $282,500
2. 2 Rokeby Crescent, Craigieburn $287,500
3. 17 Jasmine Court, Meadow Heights $308,000
4. 82 Academy Drive, Broadmeadows $357,000
5. 19 Kinlora Avenue, Epping $362,000
Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 506/108 Bay Street, Port Melbourne $1,650,000
2. 16 Sarah Street, Black Rock $1,230,000
3. 15 Canberra Parade, Port Melbourne $1,125,000
4. 11 Ellindale Avenue, Mckinnon $1,076,000
5. 16 Palmer Street, Richmond $980,000
TOP 5 BARGAIN APARTMENTS
1. 10/26 Glenlitta Avenue, Broadmeadows $240,000
2. 1/1 McLaughlin Street, Ardeer $290,000
3. 5/21 Jersey Parade, Carnegie $292,000
4. 5/245 Williams Road, South Yarra $315,000
5. 2/513 Mitcham Road, Mitcham $325,000
