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Weekly Market Overview
Saturday 10th September 2011
The clearance rate this weekend is 55 per cent compared to 55 per cent last weekend and 70 per cent this weekend last year.
Whilst buyers and sellers alike will have welcomed the decision by the Reserve Bank to keep interest rates stable it has not been enough to cause a substantial improvement in the Melbourne auction market.
There have been a total of 539 auctions reported of which 297 sold and 242 were passed in, 154 of those on a vendors bid.
Around 1400 auctions are scheduled in the two weekends before the AFL Grand Final.
Anyone with an interest in the property market should make sure they watch Melbourne Property TV on Ch31 (44 on digital) at 8.30 Monday nights.
Enzo Raimondo
CEO REIV
Total Auctions
This week: 539
Last week: 501
This time last year:?643
S Sold at Auction: 248
SB Sold before Auction: 49
SA Sold after Auction: 0
Passed in: 242
Passed in on vendor's bid: 154
Clearance rate: 55%
Postponed: 3
Withdrawn:?0
Auctions with no result:?80
PS Private Sales: 557
Total Volume (Auctions): $222.48mil
Total Volume (Private Sales): $270.29mil
Total Auctions Houses: 350
Clearance Rate: 53%
Median Price: $696,000
Total Value: $161,404,150
Total Auctions Flats/Apartments: 181
Clearance Rate: 59%
Median Price: $495,000
Total Value: $58,535,820
Total Auctions Vacant Land: 7
Clearance Rate: 57%
Median Price: $905,000
Total Value: $2,537,500
House Sales in Detail
TOP 5 HOUSES
1. 20 Barry Street, Kew $3,850,000
2. 7 Charles Street, Kew $2,700,000
3. 31 Asling Street, Brighton $2,090,000
4. 70 Glyndon Road, Camberwell $1,980,000
5. 6 Pine Street, Hawthorn $1,801,000
TOP 5 BARGAIN HOUSES
1. 4 Richmond Crescent, Werribee $235,000
2. 13 Shoring Road, Diggers Rest $268,000
3. 19 Chinnock Court, Craigieburn $275,000
4. 16 Walnut Street, Whittlesea $302,000
5. 24 Mcdonalds Road, Epping $330,000
Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 2/28 Wallace Avenue, Toorak $1,955,000
2. 1/30 Kireep Road, Balwyn $1,240,000
3. 1/5 Spencer Street, Hawthorn $1,212,000
4. 16 Mary Street, Balwyn North $885,000
5. 2/27 Foam Street, Elwood $832,500
TOP 5 BARGAIN APARTMENTS
1. 7/187 Charles Street, Seddon $253,000
2. 1/308 Frankston-Dandenong Road, Seaford $270,000
3. 16/13 Rosedale Avenue, Glen Huntly $270,000
4. 8/12 Tivoli Road, South Yarra $276,500
5. 6/36 Willoughby Street, Reservoir $280,000
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