weekly auction & sales results-melb reiv

Weekly Auction & Sales Results, Market Overview
Week ending Sunday June 6th 2010

The clearance rate from this weekends 855 reported auctions was 70 per
cent, a good result given Melbourne has never seen as many auctions
held on a winter weekend.

From an overall perspective the residential market is more in
balance than it was earlier this year and that means that buyers are
facing the best conditions in over a year. This is likely to continue
with over 1000 auctions the weekend after Queens Birthday.

There were 855 auctions reported this weekend of which 599 sold and 256 were
passed in, 156 of those on a vendors bid.

This weekend last year saw 166 auctions and a clearance rate of 81
per cent.

Next weekend there are around 300 auctions scheduled.

Enzo Raimondo
CEO REIV







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TOTAL AUCTIONS

This week: 855
Last weekend: 991
This time last year: 166

S Sold at Auction: 494
SB Sold before Auction: 102
SA Sold after Auction: 3

Passed in: 256
Passed in on vendor's bid: 156

Clearance rate: 70%

Postponed: 4
Withdrawn: 2
Auctions with no result: 65

PS Private Sales: 647

Total Volume (Auctions): $435.21mil
Total Volume (Private Sales): $297.68mil

Total Auctions Houses: 551
Clearance Rate: 71%
Median Price: $720,500
Total Value: $316,289,338

Total Auctions Flats/Apartments: 291
Clearance Rate: 70%
Median Price: $502,000
Total Value: $116,370,250

Total Auctions Vacant Land: 12
Clearance Rate: 25%
Median Price: $453,000
Total Value: $1,173,000

House Sales in Detail

TOP 5 HOUSES
1. 50 Hawthorn Grove, Hawthorn $3,510,000
2. 326 Beach Road, Black Rock $2,450,000
3. 57 Agnes Street, East Melbourne $2,400,000
4. 8 Lurnea Road, Glen Iris $2,301,000
5. 3 David Street, Surrey Hills $1,915,000

TOP 5 BARGAIN HOUSES
1. 13 Bittern Street, Melton $210,150
2. 12 Towerhill Road, Frankston $300,000
3. 70 Wilsons Road, Newcomb $303,000
4. 9 Suaad Court, Cranbourne $307,500
5. 87 Carr Street, Geelong $332,500

Flat/Apartment Sales in Detail

TOP 5 APARTMENTS
1. 28 Keats Street, Sandringham $1,650,000
2. 705/108 Bay Street, Port Melbourne $1,350,000
3. 113 Crofton Drive, Williamstown $1,120,000
4. 118 Kent Street, Richmond $1,115,000
5. 2/41 Rathmines Road, Hawthorn East $1,061,000

TOP 5 BARGAIN APARTMENTS
1. 3/29 Centreway , Keilor East $175,000
2. 3/8 Walnut Street, Carnegie $272,000
3. 2/25 Nicholson Avenue, Reservoir $287,000
4. 1/166 Leamington Street, Reservoir $290,000
5. 2/47 Murray Street, Brunswick West $301,000

Get the latest auction and private sale results first from the REIV every Saturday and Sunday evening.