Weekly Auction & Sales Results, Market Overview
Saturday 14th & Sunday 15th August 2010
The clearance rate for this weekends auctions was 68 per cent, a small increase from last weekend but largely in line with results this winter. Since the start of winter the clearance rate has been 70 per cent or higher twice, a remarkable contrast to summer and autumn when it was never lower than 73 per cent and frequently in the 80’s.
There was a total of 535 auctions reported this weekend of which 364 sold and 171 were passed in, of those 94 were passed in on a vendors bid.
This weekend last year saw 504 auctions held and a clearance rate of
85 per cent; interestingly this weekend is almost a repeat of 2008 when there was 465 auctions and a clearance rate of 65 per cent.
Auction listings drop next weekend to just over 300 due to the Federal Election.
Enzo Raimondo
CEO REIV
TOTAL AUCTIONS
This week: 535
Last Weekend: 533
This time last year: 504
S Sold at Auction: 313
SB Sold before Auction: 48
SA Sold after Auction: 3
Passed in: 171
Passed in on vendor’s bid: 97
Clearance rate: 68%
Postponed: 2
Withdrawn: 3
Auctions with no result: 69
PS Private Sales: 543
Total Volume (Auctions): $257.94mil
Total Volume (Private Sales): $254.74mil
Total Auctions Houses: 351
Clearance Rate: 69%
Median Price: $720,000
Total Value: $185,808,600
Total Auctions Flats/Apartments: 172
Clearance Rate: 67%
Median Price: $511,000
Total Value: $65,743,000
Total Auctions Vacant Land: 11
Clearance Rate: 64%
Median Price: $460,000
Total Value: $4,376,000
House Sales in Detail
TOP 5 HOUSES
1. 5 Callantina Road, Hawthorn $3,330,000
2. 12 Springfield Avenue, Toorak $2,485,000
3. 8 Pine Grove, Malvern $2,155,000
4. 19 Chatfield Avenue, Balwyn $2,100,000
5. 1447 Burke Road, Kew East $1,902,000
TOP 5 BARGAIN HOUSES
1. 104 Melbourne Road, Norlane $247,000
2. 4 Armoy Close, Cranbourne $271,000
3. 26 Norval Crest, Coolaroo $291,000
4. 18 Irvine Street, Deer Park $300,000
5. 20 Irvine Street, Deer Park $300,000
Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 72/1 Albert Road, Melbourne $1,500,000
2. 97 Mitford Street, Elwood $1,425,000
3. 4A Clarendon Street, Armadale $1,325,000
4. 3/72 Glyndon Road, Camberwell $1,200,000
5. 14 Edina Close, Port Melbourne $1,200,000
TOP 5 BARGAIN APARTMENTS
1. 33/115-119 Kororoit Creek Road, Williamstown $250,000
2. 1/245 Hotham Street, Ripponlea $322,500
3. 9/14 Eldridge Street, Footscray $326,000
4. 23 Loxton Terrace, Epping $337,000
5. 1/33 Gordon Street, Footscray $340,000
