Weekly Market Overview Saturday 19th & Sunday 20th November 2011
The Melbourne auction market has been typified by consistently moderate levels of demand this year and this weekend is no different with a clearance rate of 53 per cent being recorded.
This compares to 51 per cent last weekend and 57 per cent this weekend last year.
There have been a total of 668 auctions this weekend of which 352 sold and 316 were passed in, 204 of those on a vendors bid.
Next weekend the REIV expects around 1045 auctions next weekend.
Enzo Raimondo CEO REIV
Total Auctions
This weekend: 668 Last weekend: 815 This time last year: 1013
S Sold at Auction: 303 SB Sold before Auction: 48 SA Sold after Auction: 1
Passed in: 316 Passed in on vendor's bid: 204
Clearance rate: 53%
Postponed: 1 Withdrawn: 4 Auctions with no result: 115 PS Private Sales: 522
Total Volume (Auctions): $271.1mil Total Volume (Private Sales): $253.2mil
Total Auctions Houses: 465 Clearance Rate: 52% Median Price: $741,250 Total Value: $203,935,100
Total Auctions Flats/Apartments: 191 Clearance Rate: 54% Median Price: $521,250 Total Value: $59,896,500
Total Auctions Vacant Land: 10 Clearance Rate: 50% Median Price: $375,000 Total Value: $3,204,000
