reiv auction results - 50% clearance

Latest Sales




Saturday 9th June 2012




A clearance rate of 50 per cent was recorded this weekend compared to 58 per cent last weekend and 58 per cent this weekend last year.

Due to the very low number of auctions this result cannot be seen as indicative of the state of the market.

The year to date clearance rate is 61 per cent.

Last weeks interest rate cut will help improve buyer confidence in the later part of the year, especially if the positive growth in the national and state economy continues.

There were 129 auctions reported to the REIV today with 64 selling and 65 being passed in, 34 of those on a vendors bid.

Next weekend the REIV expects around 630 auctions.

To receive the auction results the day before they are printed in the newspapers just visit www.reiv.com.au after 7pm Saturday or register for weekly sales updates.

Enzo Raimondo
CEO REIV



--------------------------------------------------------------------------------
SALES RESULTS
SALES RESULTS








S Sold at Auction: 47
SB Sold before Auction: 17
SA Sold after Auction: 0

Passed in: 65
Passed in on vendor's bid: 34

Clearance rate: 50%





TOTAL AUCTIONS

This week: 129
Postponed: 1
Withdrawn: 1
Auctions with no result: 30

PS Private Sales: 577

Total Volume (Auctions): $37.96mil
Total Volume (Private Sales): $268.1mil

Total Auctions Houses: 84
Clearance Rate: 52%
Median Price: $600,000
Total Value: $28,714,000

Total Auctions Flats/Apartments: 40
Clearance Rate: 42%
Median Price: $425,500
Total Value: $7,570,501

Total Auctions Vacant Land: 5
Clearance Rate: 60%
Median Price: $525,000
Total Value: $1,674,000

TOP 5 HOUSES


1. 6 Clarke Street, Blackburn $962,000
2. 12 Kilmuir Road, Malvern East $950,000
3. 519-521 Abbotsford Street, North Melbourne $912,500
4. 64 Ayr Street, Reservoir $910,000
5. 2 Pascoe Street, Glen Iris $895,000

TOP 5 BARGAIN HOUSES


1. 4 Banksia Place, Meadow Heights $257,000
2. 8 Colignan Court, Meadow Heights $295,000
3. 32 Margaret Street , Fawkner $366,000
4. 14 Birrong Avenue, Noble Park $390,000
5. 117 Pitt Street, Eltham $399,

TOP 5 APARTMENTS


1. 4/416 Gore Street, Fitzroy $661,000
2. 3/28 Pine Street, Hawthorn $550,000
3. 8/18 Parkside Street, Elsternwick $527,000
4. 11/192 Alma Road, St Kilda East $512,000
5. 2307/60 Market Street, Melbourne $480,000

TOP 5 BARGAIN APARTMENTS


1. 3/97 New Street, South Kingsville $270,000
2. 1/144 Nicholson Street, Coburg $293,000
3. 10/61 Wests Road, Maribyrnong $301,001
4. 42 Quarry Circuit, Coburg $320,000
5. 3/2 Watt Street, Airport West $321,000