Weekly Auction & Sales Results, Market Overview
Saturday July 31st 2010
Demand improved at this weekends residential auctions with a clearance rate of 70 per cent recorded, an increase from last weeks 66 per cent.
This result will provide encouragement and confidence to vendors with homes listed for auction between now and the federal election. An interest rate increase next week would reduce that confidence.
There was a total of 561 auctions reported this weekend, of which a total of 393 sold and 168 were passed in, 109 of those on a vendors bid.
This weekend last year saw 374 auctions, well under this weekend and a clearance rate of 87 per cent.
Next weekend the REIV expects 520 auctions.
Enzo Raimondo
CEO REIV
TOTAL AUCTIONS
This week: 561
Last Weekend: 599
This time last year: 374
S Sold at Auction: 320
SB Sold before Auction: 72
SA Sold after Auction: 1
Passed in: 168
Passed in on vendor’s bid: 109
Clearance rate: 70%
Postponed: 2
Withdrawn: 1
Auctions with no result: 50
PS Private Sales: 621
Total Volume (Auctions): $272.97mil
Total Volume (Private Sales): $322.53mil
Total Auctions Houses: 366
Clearance Rate: 71%
Median Price: $675,000
Total Value: $199,455,100
Total Auctions Flats/Apartments: 176
Clearance Rate: 70%
Median Price: $543,000
Total Value: $68,164,538
Total Auctions Vacant Land: 19
Clearance Rate: 42%
Median Price: $398,000
Total Value: $5,354,000
House Sales in Detail
TOP 5 HOUSES
1. 58 Washington Street, Toorak $3,350,000
2. 42 Bayles Street, Parkville $1,701,000
3. 114 Maltravers Road, Eaglemont $1,700,000
4. 14 Green Street, Windsor $1,652,000
5. 27 Boorool Road, Kew East $1,582,000
TOP 5 BARGAIN HOUSES
1. 4 Burke Road, Sunbury $190,000
2. 21 Fugosia Street, Doveton $300,000
3. 21 Talgarno Street, Broadmeadows $320,000
4. 96 Ashenden Square, Rosebud $321,000
5. 12 Radiata Court, Mill Park $325,000
Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 1/29 Lewisham Road, Windsor $1,265,000
2. 609/108 Bay Street, Port Melbourne $1,200,000
3. 10 Butler Street, Camberwell $1,072,000
4. 43 Myrtle Street, South Yarra $982,500
5. 35/85 Rouse Street, Port Melbourne $970,000
TOP 5 BARGAIN APARTMENTS
1. 1/88-94 Franklin Street, Melbourne $260,000
2. 1/160 Bayswater Road, Croydon South $290,000
3. 2/139 Melrose Drive, Tullamarine $292,500
4. 3/42 Middle Road, Maribyrnong $295,000
5. 6/4-6 Burnewang Street, Albion $298,000
If interested in learning more about this update please contact me today!
Tags: Auction, auction sales, cent, clearance rate, Houses, reiv, street parkville, street windsor, total, Value
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