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 599 auctions reported of which 315 sold and 284 were passed in, 188 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: 599 Last week: 605 This time last year: 56
S Sold at Auction: 259 SB Sold before Auction: 54 SA Sold after Auction: 2
Passed in: 284 Passed in on vendor's bid: 188
Clearance rate: 53%
Postponed: 1 Withdrawn: 3 Auctions with no result: 99
PS Private Sales: 505
Total Volume (Auctions): $217.76mil Total Volume (Private Sales): $227.05mil
Total Auctions Houses: 381 Clearance Rate: 54% Median Price: $697,500 Total Value: $160,677,300
Total Auctions Flats/Apartments: 203 Clearance Rate: 53% Median Price: $481,000 Total Value: $55,777,250
Total Auctions Vacant Land: 13 Clearance Rate: 23% Median Price: $290,000 Total Value: $1,304,000
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. 4/283 Nepean Highway, Seaford $257,000 2. 4/16 Jolley Street, Brunswick West $281,500 3. 5/13 Woodbine Grove, Chelsea $283,000 4. 4/772 Plenty Road, Reservoir $302,000 5. 6/86 Ruskin Street, Elwood $310,000
