melbourne: 29 and 30 october, page-14

With the sunday update

Weekly Market Overview
Saturday 29th & Sunday 30th October 2011

The clearance rate this weekend is 53 per cent compared to 53 per cent last weekend and 66 per cent this weekend last year.

It has been twelve months since the Reserve Bank last increased interest rates. This Tuesday, buyers, sellers and mortgage holders will be hoping to see a cut to rates and if it occurs it will help encourage more buyers into the market, particularly in 2012.

There were a total of 362 auctions reported this weekend of which 193 sold and 169 were passed in, 113 of those on a vendors bid.

The REIV expects around 595 auctions next weekend followed by 870 the weekend after.

Enzo Raimondo
CEO REIV

Total Auctions

This week: 3462 (should be 362)
Last week: 823
This time last year: 410

S Sold at Auction: 163
SB Sold before Auction: 30
SA Sold after Auction: 0

Passed in: 169
Passed in on vendor's bid: 113

Clearance rate: 53%

Postponed: 3
Withdrawn: 4
Auctions with no result: 71

PS Private Sales: 515

Total Volume (Auctions): $128.11mil
Total Volume (Private Sales): $261.09mil

Total Auctions Houses: 232
Clearance Rate: 55%
Median Price: $659,000
Total Value: $97,421,200

Total Auctions Flats/Apartments: 117
Clearance Rate: 53%
Median Price: $458,500
Total Value: $30,050,500

Total Auctions Vacant Land: 9
Clearance Rate: 22%
Median Price: $168,000
Total Value: $336,000

House Sales in Detail

TOP 5 HOUSES
1. 34 Chatsworth Road, Prahran $3,137,500
2. 77 Grey Street, East Melbourne $2,832,500
3. 9 Laverton Street, Williamstown $2,000,000
4. 22 Rockingham Street, Kew $1,880,000
5. 154-156 Francis Street, Yarraville $1,872,000

TOP 5 BARGAIN HOUSES
1. 15 Warrah Street, Mornington $283,500
2. 35 Wright Street, Laverton $295,000
3. 30 Strawberry Road, Kurunjang $301,000
4. 10 Chisholm Court, Mill Park $348,000
5. 4 Dunk Close, Mill Park $348,000

Flat/Apartment Sales in Detail

TOP 5 APARTMENTS
1. 3703/1 Freshwater Place, Southbank $840,000
2. 2/7 Griffiths Court, Mount Waverley $740,000
3. 1705/8 McCrae Street, Docklands $732,000
4. 5/46 Middleton Street, Black Rock $690,000
5. 23/22 Bosisto Street, Richmond $660,000

TOP 5 BARGAIN APARTMENTS
1. 3/6 Griffiths Street, Reservoir $253,000
2. 5/50 Normanby Avenue, Thornbury $253,000
3. 410/99 A'Beckett Street, Melbourne $262,500
4. 4/26 Darebin Road, Northcote $264,000
5. 1/19 Burton Avenue, Clayton $288,000