This weekend there have been 326 auctions reported and with a total of 206 selling a clearance rate of 66 per cent has been recorded. Of the 110 passed in 63 of those were passed in on a vendors bid.
This compares to the clearance rate of 54 per cent from last weekends 182 auctions and the 85 per cent reached on this weekend in 2010.
There is no sign yet that the market has shifted in any significant way from the way it ended in 2010.
The next three weekends will see significantly more auctions with 695 next weekend followed by 980 and 910 in the following two weekends.The high number of listings shows that sellers have a reasonable degree of confidence in their prospects, reflecting the overall health of the national and state economy.
Enzo Raimondo CEO, REIV
TOTAL AUCTIONS
This week: 326 Last Weekend: 177 This weekend last year: 390
S Sold at Auction: 159 SB Sold before Auction: 57 SA Sold after Auction: 0
Passed in: 110 Passed in on vendor's bid: 63
Clearance rate: 66%
Postponed: 3 Withdrawn: 1 Auctions with no result: 84
PS Private Sales: 630
Total Volume (Auctions): $133.62mil Total Volume (Private Sales): $303.29mil
Total Auctions Houses: 201 Clearance Rate: 64% Median Price: $651,000 Total Value: $89,777,100
Total Auctions Flats/Apartments: 116 Clearance Rate: 72% Median Price: $505,000 Total Value: $42,084,727
Total Auctions Vacant Land: 9 Clearance Rate: 33% Median Price: $680,000 Total Value: $1,760,000
