The clearance rate from this weekends residential auctions is 58 per cent which is 4 per cent less than the year to date clearance rate of 62 per cent.
The number homes on the market has reduced since Easter and it is apparent from this weekends result that the number of active buyers has as well.
There was a total of 455 auctions reported this weekend of which 232 sold and 193 were passed in, 107 of those on a vendors bid.
This weekend last year saw a very high 872 auctions and a clearance rate of 80 per cent.
The REIV expects just over 600 auctions next weekend.
Enzo Raimondo CEO REIV ?
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TOTAL AUCTIONS
This Week: 455 Last Week:?34 (Easter) This time Last Year: 843
S Sold at Auction: 206 SB Sold before Auction: 55 SA Sold after Auction: 1
Passed in: 193 Passed in on vendor's bid: 107
Clearance rate: 58%
Postponed:1 Withdrawn: 5 Auctions with no result: 103
PS Private Sales: 510
Total Volume (Auctions): $161.36mil Total Volume (Private Sales): $248.45mil
Total Auctions Houses: 292 Clearance Rate: 54% Median Price: $602,000 Total Value: $102,239,600
Total Auctions Flats/Apartments: 150 Clearance Rate: 63% Median Price: $492,500 Total Value: $53,187,750
Total Auctions Vacant Land: 11 Clearance Rate: 73% Median Price: $337,500 Total Value: $5,817,000
House Sales in Detail?
TOP 5 HOUSES 1. 38 Richardson Street, Albert Park $1,950,000 2. 3/10 Hyton Crescent, Kew $1,650,000 3. 5 Irene Place, Prahran $1,577,500 4. 14 Merton Street, Albert Park $1,460,000 5. 13 Riverside Avenue, Balwyn North $1,460,000
