Home>Property Research>Latest sales 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Postponed: 3 Withdrawn:?0 Auctions with no result:?80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
