There were 589 auctions reported this weekend, 429 of which sold resulting in a clearance rate of 73 per cent, which compared to last year is a solid outcome, especially for the vendors.
The number of homes on offer at auction remains well below where it was this time last year and does not show any sign of increasing in the next month. In contrast the private sale market is showing signs of strength which is no surprise given it was the affordable segment of the market, the same properties that dominate private sales, which recorded positive price growth in 2008. Of the 160 properties passed in today 99 were passed in on a vendors bid.
The number auctions drops next week due to the long weekend.
This week: 589
Last year: 956
SB Sold before Auction: 95
SA Sold after Auction: 3
Passed in on vendor’s bid: 99
Withdrawn: 2
Auctions with no result: 30
Total Volume (Private Sales): $347.68mil
Clearance Rate: 73%
Median Price: $620,000
Clearance Rate: 77%
Median Price: $450,000
Clearance Rate: 25%
Median Price: $540,000
1. 15 Kerferd Street, Malvern East $2,922,000
2. 14-18 Holtom Street, Carlton North $2,430,000
3. 31 Outlook Drive, Eaglemont $2,237,500
4. 16 Chatfield Avenue, Balwyn $2,130,000
5. 35 Hanby Street, Brighton $2,100,000
1. 32 Gilford Avenue, Coolaroo $226,000
2. 48 Bailey Street, Belmont $237,000
3. 5 Herald Walk, Kings Park $245,000
4. 76 Ripplebrook Drive, Broadmeadows $250,000
5. 25 Stockfeld Street, Sunbury $264,500
1. 130A Church Street, Hawthorn $1,192,000
2. 10A Elizabeth Street, Malvern $961,500
3. 10B Elizabeth Street, Malvern $961,500
4. 65 Hardiman Street, Kensington $950,000
5. 3/77 Princess Street, Kew $923,500
1. 2/172 Albert Street, Preston $180,000
2. 10/7 Gordon Street, Footscray $205,000
3. 2/250 Sunshine Avenue, Kealba $215,500
4. 32/250 Dandenong Road, St Kilda East $232,000
5. 12/25 The Avenue, Malvern East $260,000
If interested in learning more about this update please contact me today!
Tags: apartment sales, Auction, carlton north, clearance rate, East, flat apartment, Houses, malvern east, mil, Volume
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