Weekly Market Overview Saturday 24th & Sunday 25th September 2011
The clearance rate this weekend is 53 per cent compared to 55 per cent last weekend. This weekend last year was the first grand final weekend so no clearance rate was issued.
There can be no doubt that ongoing concerns about the health of the global economy are having an impact on the confidence of buyers in the Melbourne auction market.
There have been a total of 628 auctions reported of which 335 sold and 293 were passed in, 195 of those on a vendors bid.
Next weekend there are only 50 auctions, less than half of those on Saturday. No clearance rate will be issued.
Enzo Raimondo CEO REIV
Total Auctions
This week: 628 Last week: 639 This time last year: 65
S Sold at Auction: 275 SB Sold before Auction: 58 SA Sold after Auction: 2
Passed in: 293 Passed in on vendor's bid: 195
Clearance rate: 53%
Postponed: 4 Withdrawn: 6 Auctions with no result: 84
PS Private Sales: 505
PS Private Sales: 504
Total Volume (Auctions): $232.54mil Total Volume (Private Sales): $226.67mil
Total Auctions Houses: 395 Clearance Rate: 54% Median Price: $712,000 Total Value: $170,222,300
Total Auctions Flats/Apartments: 218 Clearance Rate: 54% Median Price: $487,500 Total Value: $61,016,250
Total Auctions Vacant Land: 13 Clearance Rate: 23% Median Price: $290,000 Total Value: $1,304,000
House Sales in Detail TOP 5 HOUSES 1. 2 Rosedale Road, Glen Iris $2,120,000 2. 113 Yarrbat Avenue, Balwyn $1,992,500 3. 28 Service Street, Hampton $1,825,000 4. 19 Brighton Street, Sandringham $1,750,000 5. 31 Lambeth Avenue, Armadale $1,540,000
Flat/Apartment Sales in Detail TOP 5 APARTMENTS 1. 5/692 Orrong Road, Toorak $1,155,000 2. 8 Birch Square, Richmond $1,095,000 3. 37B George Street, Bentleigh East $1,061,500 4. 119 Ross Street, Port Melbourne $995,000 5. 1-4/11 Embankment Grove, Chelsea $935,000
TOP 5 BARGAIN APARTMENTS 1. 26/15 Hawthorn Road, Caulfield North $119,000 2. 4/283 Nepean Highway, Seaford $257,000 3. 4/16 Jolley Street, Brunswick West $281,500 4. 5/13 Woodbine Grove, Chelsea $283,000 5. 4/772 Plenty Road, Reservoir $302,000
Get the latest auction results first from the REIV every Saturday and Sunday evening.
