A clearance rate of 74 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 619 auctions reported to the REIV this weekend, with 455 selling and 164 being passed in, 96 of those on a vendor bid.
Next weekend the REIV expects around 750 auctions.
Enzo Raimondo
CEO REIV
S Sold at Auction: 389
SB Sold before Auction: 66
SA Sold after Auction: 0 Passed in: 164
Passed in on vendor's bid: 96
Clearance rate: 74%
TOTAL AUCTIONS
This week: 619
Yesterday: 6
Last Sunday: 8
This weekend last month: 618
This weekend last year: 640
CLEARANCE RATES:
Weekend: 74%
Yesterday: 83%
Last Sunday: 62%
This weekend last month: 65%
This weekend last year: 60%
Postponed: 4
Withdrawn: 6
Auctions with no result: 33
PS Private Sales: 625
Total Volume (Auctions): $333.39mil
Total Volume (Private Sales): $300.14mil
Total Auctions Houses: 401
Clearance Rate: 74%
Median Price: $744,500
Total Value: $247,917,555
Total Auctions Flats/Apartments: 196
Clearance Rate: 71%
Median Price: $508,750
Total Value: $78,664,508
Total Auctions Vacant Land: 20
Clearance Rate: 75%
Median Price: $391,250
Total Value: $6,448,500
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. 27 Tristania Street, Doveton $270,000
2. 113 Opie Road, Albanvale $279,000
3. 6 Wildwood Court, Albanvale $285,000
4. 98 Lahinch Street, Broadmeadows $291,000
5. 10 Sheridan Way, Roxburgh Park $305,000
TOP 5 APARTMENTS
1. 1/2 Dendy Street, Brighton $2,100,000
2. 1802/576 St Kilda Road, Melbourne $1,600,000
3. 32 Beacon Vista, Port Melbourne $1,320,000
4. 1/19 Mangan Street, Balwyn $1,235,000
5. 173 Ormond Road, Elwood $1,150,000
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