Home>Property Research>Latest sales Weekly Market Overview Saturday 29th October 2011
The clearance rate this weekend is 54 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 345 auctions reported this weekend of which 185 sold and 160 were passed in, 104 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: 345 Last week: 791 This time last year: 401
S Sold at Auction: 156 SB Sold before Auction: 29 SA Sold after Auction: 0
Passed in: 160 Passed in on vendor's bid: 104
Clearance rate: 54%
Postponed: 2 Withdrawn: 3 Auctions with no result: 80
PS Private Sales: 561
Total Volume (Auctions): $121.7mil Total Volume (Private Sales): $268.26mil
Total Auctions Houses: 222 Clearance Rate: 55% Median Price: $645,500 Total Value: $93,181,200
Total Auctions Flats/Apartments: 110 Clearance Rate: 54% Median Price: $457,000 Total Value: $27,885,500
Total Auctions Vacant Land: 9 Clearance Rate: 22% Median Price: $168,000 Total Value: $336,000
