A clearance rate of 73 per cent was recorded this weekend compared to 70 per cent last weekend and 60 per cent this weekend last year.
After a small dip in the clearance rate over the school holidays the market has returned to this years underlying trend. The recent interest rate
cut should help to further boost buyer sentiment over winter.
There were 594 auctions reported to the REIV today, with 436 selling and 158 being passed in, 90 of those on a vendor bid.
Next weekend the REIV expects around 750 auctions
Enzo Raimondo
CEO REIV
S Sold at Auction: 374
SB Sold before Auction: 62
SA Sold after Auction: 0 Passed in: 158
Passed in on vendor's bid: 90
Clearance rate: 73%
TOTAL AUCTIONS
This week: 594
Last weekend: 733
This time last year: 626
Postponed: 6
Withdrawn: 4
Auctions with no result: 46
PS Private Sales: 623
Total Volume (Auctions): $324.07mil
Total Volume (Private Sales): $299.08mil
Total Auctions Houses: 389
Clearance Rate: 74%
Median Price: $750,000
Total Value: $244,081,555
Total Auctions Flats/Apartments: 185
Clearance Rate: 72%
Median Price: $505,000
Total Value: $73,893,508
Total Auctions Vacant Land: 18
Clearance Rate: 72%
Median Price: $393,750
Total Value: $5,736,000
TOP 5 HOUSES
1. 3 Welwyn Avenue, Brighton East $2,575,000
2. 20 Beaver Street, Malvern East $2,260,000
3. 40 Metung Street, Balwyn $2,180,000
4. 52 Cole Street, Brighton $2,055,000
5. 14 Elster Avenue, Elsternwick $2,030,000
TOP 5 BARGAIN HOUSES
1. 113 Opie Road, Albanvale $279,000
2. 6 Wildwood Court, Albanvale $285,000
3. 98 Lahinch Street, Broadmeadows $291,000
4. 10 Sheridan Way, Roxburgh Park $305,000
5. 6 Churchill Avenue, Tullamarine $318,000
TOP 5 APARTMENTS
1. 1/2 Dendy Street, Brighton $2,100,000
2. 32 Beacon Vista, Port Melbourne $1,320,000
3. 1/19 Mangan Street, Balwyn $1,235,000
4. 173 Ormond Road, Elwood $1,150,000
5. 5 Highett Road, Hampton $1,010,000
TOP 5 BARGAIN APARTMENTS
1. 7/22 Bishop Street, Kingsville $180,000
2. 3/232 Ascot Vale Road, Ascot Vale $250,000
3. 3/283 Dorset Road, Boronia $257,100
4. 12/120 Primrose Street, Essendon $281,000
5. 4/106 Cromer Road, Beaumaris $290,000