Sunday 7th February 2010
The auction market picked up where it left off last year with a
clearance rate of 83 percent from the 164 reported auctions this weekend.
Buyers have not been dissuaded from strong bidding by the three
interest rate rises last year nor the expectation that more will come this
year. The reduction in financial assistance to first home buyers on
31 December does not appear to have had a negative impact at
this point, especially as population growth brings more buyers to the
market compensating for the fewer first home buyers.
There were 164 auctions reported this weekend, of which 136 sold and 28 were
passed in, 18 of those passed in on a vendors bid.
The REIV expects just over 350 auctions next weekend.
Enzo Raimondo
CEO REIV
TOTAL AUCTIONS
This week: 164
Last weekend: 69
This weekend last year: 99
S Sold at Auction: 100
SB Sold before Auction: 35
SA Sold after Auction: 1
Passed in: 28
Passed in on vendor's bid: 18
Clearance rate: 83%
Postponed: 0
Withdrawn: 2
Auctions with no result: 23
PS Private Sales: 696
Total Volume (Auctions): $77.43mil
Total Volume (Private Sales): $309.88mil
Total Auctions Houses: 115
Clearance Rate: 88%
Median Price: $563,000
Total Value: $60,100,550
Total Auctions Flats/Apartments: 44
Clearance Rate: 75%
Median Price: $532,000
Total Value: $16,603,150
Total Auctions Vacant Land: 5
Clearance Rate: 40%
Median Price: $361,000
Total Value: $722,000
House Sales in Detail
TOP 5 HOUSES
1. 30 Lennox Street, Hawthorn $2,860,000
2. 13 Loch Street, Camberwell $1,340,000
3. 2 Macgowan Avenue, Glen Huntly $1,165,000
4. 67 - 69 Waverley Road, Malvern East $1,150,000
5. 29 Frank Street, Box Hill South $1,016,000
TOP 5 BARGAIN HOUSES
1. 11 Glenleigh Court, Cranbourne North $266,000
2. 49 Gipps Crescent, Cranbourne $285,000
3. 18 Kingsbarn Court, Cranbourne $285,500
4. 7 Batman Avenue, Keilor Park $296,300
5. 32 Corinella Crescent, Dallas $305,500
Flat/Apartment Sales in Detail
TOP 5 APARTMENTS/TOWNHOUSES
1. 9/88 Clowes Street, South Yarra $885,000
2. 5/2 Irymple Avenue, St Kilda $787,000
3. 12 Angler Lane, Maribyrnong $728,000
4. 706/221 Sturt Street, Southbank $720,000
5. 3/77 Invermay Grove, Rosanna $696,000
TOP 5 BARGAIN APARTMENTS
1. 2/5 Amarina Close, Meadow Heights $240,000
2. 5/602 Bell Street, Preston $286,500
3. 2/16 Parkview Close, Dandenong $290,000
4. 6/89 Ballantyne Street, Thornbury $312,000
5. 1 Marlo Court, Broadmeadows $335,000
Get the latest auction and private sale results first from the REIV every Saturday and Sunday evening.
