down she goes, revised will be 50%, page-23

With sunday results:

Saturday 27th & 28th August 2011

The clearance rate this weekend is 55 per cent compared to 57 per cent last weekend and 70 per cent this weekend last year.

Increased stock levels this weekend have resulted in conditions more favorable to buyers, a trend likely to continue into spring.

There were a total of 525 auctions this weekend of which 289 sold and 236 were passed in, 164 of those on a vendors bid.

For the first weekend of spring the REIV is expecting 530 auctions.

Enzo Raimondo
CEO REIV

Total Auctions

This week: 525
Last week: 490
This time last year: 757

S Sold at Auction: 249
SB Sold before Auction: 39
SA Sold after Auction: 1

Passed in: 236
Passed in on vendor's bid: 164

Clearance rate: 55%


Postponed: 2
Withdrawn: 2
Auctions with no result: 83

PS Private Sales: 500

Total Volume (Auctions): $221.15mil
Total Volume (Private Sales): $236.38mil

Total Auctions Houses: 339
Clearance Rate: 56%
Median Price: $720,000
Total Value: $163,120,300

Total Auctions Flats/Apartments: 178
Clearance Rate: 54%
Median Price: $520,250
Total Value: $56,922,900

Total Auctions Vacant Land: 7
Clearance Rate: 29%
Median Price: $555,000
Total Value: $1,110,000


House Sales in Detail
TOP 5 HOUSES
1. 25 Kent Avenue, Brighton $6,400,000
2. 1 Panther Place, Fairfield $2,875,000
3. 8-10 Kinkora Road, Hawthorn $2,020,000
4. 25 Marriage Road, Brighton East $1,960,000
5. 16 Electra Street, Williamstown $1,820,000

TOP 5 BARGAIN HOUSES
1. 3 Lavington Court, Craigieburn $305,000
2. 118 Brights Drive, Rye $310,000
3. 9 Ormond Rise, Roxburgh Park $320,000
4. 44 Flinders Park Drive, Officer $325,000
5. 57 Hamilton Road, Bayswater North $340,000

Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 2/52 Alfred Street, Kew $1,738,000
2. 132 Princes Street, Port Melbourne $1,300,000
3. 104A Wheatley Road, Mckinnon $1,270,000
4. 302/35-39 Ormond Road, Elwood $955,000
5. 302/35 Ormond Road, Elwood $955,000

TOP 5 BARGAIN APARTMENTS
1. 2/13 Tattenham Street, Caulfield East $316,500
2. 10/87-89 Mitchell Street, Bentleigh $317,000
3. 9 Val Court, Dandenong $321,500
4. 6/22 Warrabel Road, Ferntree Gully $322,500
5. 4/38 Shepparson Avenue, Carnegie $330,000