The clearance rate from the 1019 auctions reported today was 61 per cent, a good outcome in light of the record number of homes on the market this weekend. The market continues to be underpinned by population growth and a healthy local economy.
It is clear that in the last few weeks of the 2010 residential auction market conditions continue to favor buyers which is not surprising given this year will see a record number of homes offered at auction.
There was a total of 1019 auctions reported today, with a total of 618 selling and 401 being passed in, 243 of those on a vendors bid.? Further results will be reported tomorrow.
There is now one weekend of auctions to go this year with 660 homes expected to be offered at auction next weekend.
On this weekend last year there was 1065 auctions and a clearance rate of 81 per cent recorded
?
Enzo Raimondo CEO REIV ?
?
?
TOTAL AUCTIONS
This week: 1019 Last Weekend: 1014 This time Last year: 1023
S Sold at Auction: 516 SB Sold before Auction: 99 SA Sold after Auction: 3
Passed in: 401 Passed in on vendor's bid: 243
Clearance rate: 61%
Postponed: 5 Withdrawn: 4 Auctions with no result: 209
PS Private Sales: 527
Total Volume (Auctions): $436.59mil Total Volume (Private Sales): $262.65mil
Total Auctions Houses: 639 Clearance Rate: 58% Median Price: $660,000 Total Value: $301,086,800
Total Auctions Flats/Apartments: 357 Clearance Rate: 65% Median Price: $517,000 Total Value: $123,663,450
Total Auctions Vacant Land: 23 Clearance Rate: 61% Median Price: $630,500 Total Value: $11,840,000
?
House Sales in Detail ?
TOP 5 HOUSES 1. 8 Black Street, Brighton $5,125,000 2. 402-404 Dandenong Road, Caulfield North $3,070,000 3. 12 Stanhope Street, Mont Albert $2,770,000 4. 20 Kent Court, Toorak $2,370,000 5. 221 Osborne Street, Williamstown $2,340,000
