reiv auction results saturday 11th september

Weekly Auction & Sales Results, Market Overview
Saturday 11th & Sunday 12th September 2010

Another healthy result from this weekends 582 auctions with a clearance rate if 70 per cent reached.

This level of demand is consistent with recent results and suggests that the market has found a reasonable balance, and outcome that is in contrast to the past few years.

There were 612 auctions reported this weekend of which 427 sold and 185 were passed in, 121 of those on a vendors bid.

The REIV expects around 760 auctions next weekend.

Enzo Raimondo
CEO REIV





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TOTAL AUCTIONS

This week: 612
Last weekend: 681
This time last year: 708

S Sold at Auction: 359
SB Sold before Auction: 66
SA Sold after Auction: 2

Passed in: 185
Passed in on vendor's bid: 121



Clearance rate: 70%

Postponed: 0
Withdrawn: 0
Auctions with no result: 89

PS Private Sales: 575

Total Volume (Auctions): $334.89mil
Total Volume (Private Sales): $294.15mil

Total Auctions Houses: 391
Clearance Rate: 70%
Median Price: $720,000
Total Value: $239,251,154

Total Auctions Flats/Apartments: 204
Clearance Rate: 70%
Median Price: $540,250
Total Value: $89,971,000

Total Auctions Vacant Land: 17
Clearance Rate: 65%
Median Price: $517,500
Total Value: $5,668,000

House Sales in Detail

TOP 5 HOUSES

1. 4 Forrest Court, Toorak $4,050,000
2. 24 Netherlee Street, Glen Iris $2,660,000
3. 4 Wahroonga Court, Glen Iris $2,350,000
4. 69 & 69A St Helens Road, Hawthorn East $2,134,000
5. 18 Carn Avenue, Ivanhoe $2,040,000

TOP 5 BARGAIN HOUSES

1. 14/11 Williams Street, Frankston South $231,500
2. 28 Pine Street, Frankston North $270,000
3. 16 Robertson Street, East Geelong $300,500
4. 1 Patterson Court, Endeavour Hills $310,000
5. 10 Nixon Court, Roxburgh Park $336,000


Flat/Apartment Sales in Detail

TOP 5 APARTMENTS

1. 140 Ross Street, Port Melbourne $1,720,000
2. 1/85 Irving Road, Toorak $1,600,000
3. 2/3 Hillside Crescent, Maribyrnong $1,358,500
4. 4/410 Wattletree Road, Malvern East $1,260,000
5. 2B Mackay Street, Prahran $1,100,000

TOP 5 BARGAIN APARTMENTS

1. 6/14-16 Fay Street, Melton $157,500
2. 14/31 Ridley Street, Albion $177,500
3. 13/1-2 Hatfield Court, West Footscray $212,000
4. 2/20-24 Ameily Crescent, Reservoir $297,500
5. 2/23 Scotia Street, Moonee Ponds $318,750