Weekly Auction & Sales Results, Market Overview
Sunday August 8th 2010
This weekend has seen clearance rates remain in line with the performance of the market throughout July suggesting that little will change until after the Federal Election when stock levels will increase. Unless buyer activity increases buyers will be presented with conditions that are more favourable than they have been over the past few months.
The clearance rate this weekend is 67 percent, from a total of 496 reported auctions.
There was a total of 331 homes sold and 165 passed in, 106 of those on a vendors bid.
This weekend last year saw 424 auctions and a clearance rate of 85 per cent achieved.
The REIV expects around 580 auctions next weekend and then a drop to 320 on the weekend of the Federal Election.
Enzo Raimondo
CEO REIV
TOTAL AUCTIONS
This week: 496
Last Weekend: 597
This time last year: 424
S Sold at Auction: 273
SB Sold before Auction: 57
SA Sold after Auction: 1
Passed in: 165
Passed in on vendor’s bid: 106
Clearance rate: 67%
Postponed: 2
Withdrawn: 3
Auctions with no result: 51
PS Private Sales: 534
Total Volume (Auctions): $231.25mil
Total Volume (Private Sales): $243.82mil
Total Auctions Houses: 311
Clearance Rate: 65%
Median Price: $700,000
Total Value: $160,093,820
Total Auctions Flats/Apartments: 175
Clearance Rate: 70%
Median Price: $529,750
Total Value: $67,923,500
Total Auctions Vacant Land: 10
Clearance Rate: 80%
Median Price: $388,500
Total Value: $3,233,000
House Sales in Detail
TOP 5 HOUSES
1. 9 Glendenning Rise, Templestowe $2,120,000
2. 12 Erindale Avenue, Elsternwick $1,950,000
3. 46 Winmalee Road, Balwyn $1,860,000
4. 10 Tovell Street, Brighton $1,850,000
5. 6-8 The Boulevard, Malvern East $1,530,000
TOP 5 BARGAIN HOUSES
1. 20 Cobham Court, Corio $240,000
2. 44 Seventh Avenue, Rosebud $335,000
3. 29 Pommel Crescent, Epping $335,000
4. 64 Almurta Avenue, Coolaroo $337,000
5. 19 Bright Avenue, Epping $360,000
Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 6/6 Stanley Street, Brighton $1,460,000
2. 46 Fletcher Street, Essendon $1,430,000
3. 14 Holzer Street, Sandringham $1,090,000
4. 38A St Andrews Street, Brighton $1,065,000
5. 27 Khartoum Street, Caulfield North $1,055,000
TOP 5 BARGAIN APARTMENTS
1. 6/95 Summerhill Road, Footscray $240,000
2. 22/709 Barkly Street, West Footscray $242,000
3. 4/26 Beaumont Parade, West Footscray $281,000
4. 2/7 Waltham Street, Flemington $285,000
5. 2/4 Edward Street, Seddon $297,000
If interested in learning more about this update please contact me today!
Tags: APARTMENTS, auction sales, Brighton, clearance rate, clearance rates, Houses, malvern east, reiv, total, Value
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