reiv auction results saturday august 28th 2010

Weekly Auction & Sales Results, Market Overview
Saturday 28th 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 70 per cent from a total of 658 auctions reported, compared to 72 per cent from 343 auctions last weekend. There were 461 homes sold at auction this weekend, 197 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







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TOTAL AUCTIONS

This week: 658
Last weekend: 319
This time last year: 642

S Sold at Auction: 395
SB Sold before Auction: 65
SA Sold after Auction: 1

Passed in: 197
Passed in on vendor's bid: 130

Clearance rate: 70%

Postponed: 2
Withdrawn: 0
Auctions with no result: 76

PS Private Sales: 626

Total Volume (Auctions): $341.91mil
Total Volume (Private Sales): $303.05mil

Total Auctions Houses: 459
Clearance Rate: 69%
Median Price: $690,000
Total Value: $258,083,082

Total Auctions Flats/Apartments: 191
Clearance Rate: 72%
Median Price: $510,000
Total Value: $81,614,605

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. 1/37 Rowell Avenue, Camberwell $1,090,000
5. 3/33 Robe Street, St Kilda $1,055,000

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