Saturday July 31st 2010
Demand improved at this weekends residential auctions with a clearance rate of 71 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 541 auctions reported this weekend, of which a total of 382 sold and 159 were passed in, 103 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: 541
Last Weekend: 579
This time last year: 360
S Sold at Auction: 309
SB Sold before Auction: 72
SA Sold after Auction: 1
Passed in: 159
Passed in on vendor's bid: 103
Clearance rate: 71%
Postponed: 1
Withdrawn: 2
Auctions with no result: 67
PS Private Sales: 616
Total Volume (Auctions): $258mil
Total Volume (Private Sales): $317.15mil
Total Auctions Houses: 360
Clearance Rate: 71%
Median Price: $665,000
Total Value: $189,735,100
Total Auctions Flats/Apartments: 169
Clearance Rate: 71%
Median Price: $543,000
Total Value: $65,428,038
Total Auctions Vacant Land: 12
Clearance Rate: 50%
Median Price: $368,000
Total Value: $2,839,000
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
11. 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
Get the latest auction and private sale results first from the REIV every Saturday and Sunday evening.
