Saturday 28th & Sunday 29th August 2010
The residential auction market had a pre-spring test this weekend and results showed that demand has been largely unaffected by the high volume of homes on offer.
The clearance rate was 71 per cent from a total of 687 auctions reported, compared to 72 per cent from 343 auctions last weekend. There were 488 homes sold at auction this weekend, 199 were passed in and 130 of those were passed in on a vendors bid.
Over the next few weeks buyers will continue to have the upper hand as demand less than this time last year when there were 665 auctions and a clearance rate of 85 per cent.
There are around 600 auction in each of the next two weekends.
Enzo Raimondo
CEO REIV
TOTAL AUCTIONS
This week: 687
Last weekend: 343
This time last year: 665
S Sold at Auction: 415
SB Sold before Auction: 72
SA Sold after Auction: 1
Passed in: 199
Passed in on vendor's bid: 130
Clearance rate: 71%
Postponed: 2
Withdrawn: 0
Auctions with no result: 75
PS Private Sales: 622
Total Volume (Auctions): $366.23mil
Total Volume (Private Sales): $300.69mil
Total Auctions Houses: 474
Clearance Rate: 70%
Median Price: $697,500
Total Value: $274,686,082
Total Auctions Flats/Apartments: 205
Clearance Rate: 73%
Median Price: $516,000
Total Value: $89,327,605
Total Auctions Vacant Land: 8
Clearance Rate: 62%
Median Price: $365,000
Total Value: $2,213,000
House Sales in Detail
TOP 5 HOUSES
1. 59 Studley Road, Ivanhoe $4,300,000
2. 61 Brougham Street, Eltham $3,000,000
3. 31 Arkaringa Crescent, Black Rock $1,965,000
4. 31 Hawksburn Road, South Yarra $1,951,000
5. 42 Foote Street, Brighton $1,830,000
TOP 5 BARGAIN HOUSES
1. 49 Stewart Crescent, Rockbank $237,000
2. 26 Oakwood Road, Albanvale $243,500
3. 21 Christina Crescent, Kurunjang $272,000
4. 7 Mathisen Terrace, Hillside $310,000
5. 2 Darling Way, Narre Warren $310,500
Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 2/589A Toorak Road, Toorak $1,414,000
2. 51 Glass Street, Richmond $1,310,000
3. 305/2 Pier Street, Port Melbourne $1,225,000
4. 5 Morley Street, Port Melbourne $1,105,000
5. 1/37 Rowell Avenue, Camberwell $1,090,000
TOP 5 BARGAIN APARTMENTS
1. 2/4 Fourth Avenue, Rosebud $187,500
2. 4/23A Becket Street South, Glenroy $245,000
3. 7/36 Hampton Parade, West Footscray $260,000
4. 18/40 Waterloo Crescent, St Kilda $262,500
5. 7 Hopetown Street, Moonee Ponds $295,000
CLICK HERE for Saturday 28th & Sunday 29th August Auction Results
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