Melbourne Property Sales Results
for Saturday 1st and Sunday 2nd March 2014
A clearance rate of 74 per cent was recorded this weekend compared to 73 per cent last weekend and 68 per cent this weekend last year.
There were 1094 auctions reported to the REIV this weekend, with 812 selling and 282 being passed in, 154 of those on a vendor bid.
Despite some negativity in the overall economy, Victorians still think that now is a good time to buy a home. Close to 2400 homes have been sold so far this year compared to 1800 this time last year. This is demonstrated in the multiple bidders at auctions and a healthy average clearance rate of 70 per cent for the month of February. However, it is yet to be seen whether this will be sustained for the rest of the year.
Next weekend the REIV expects around 290 auctions.
Enzo Raimondo
CEO REIV
RESIDENTIAL
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S Sold at Auction: 682
SB Sold before Auction: 128
SA Sold after Auction: 2
Passed in: 282
Passed in on vendor's bid: 154
Clearance rate: 74%
TOTAL AUCTIONS
This week: 1094
Yesterday: 30
Last Sunday: 41
This weekend last month: 116
This weekend last year: 921
CLEARANCE RATES
Weekend: 74%
Yesterday: 93%
Last Sunday: 76%
This weekend last month: 72%
This weekend last year: 68%
Postponed: 19
Withdrawn: 23
Auctions with no result: 114
PS Private Sales: 402
Total Volume (Auctions): $682.2mil
Total Volume (Private Sales): $196.34mil
Total Auctions Houses: 722
Clearance Rate: 76%
Median Price: $805,000
Total Value: $513,729,903
Total Auctions Flats/Apartments: 343
Clearance Rate: 73%
Median Price: $586,250
Total Value: $157,902,788
Total Auctions Vacant Land: 26
Clearance Rate: 31%
Median Price: $580,000
Total Value: $5,630,000
TOP 5 HOUSES
1. 67 Beaver Street, Malvern East $3,962,500
2. 1289 Burke Road, Kew $3,820,000
3. 222-224 Mckean Street, Fitzroy North $3,724,000
4. 32 Sargood Street, Toorak $3,675,000
5. 37 Howitt Road, Caulfield North $3,500,000
TOP 5 BARGAIN HOUSES
1. 50 Rosemary Crescent, Frankston North $240,000
2. 51 Tarata Drive, Doveton $245,000
3. 53 Tarata Drive, Doveton $246,500
4. 644 Frankston Flinders Road, Baxter $250,000
5. 3 Bruce Court, Pakenham $258,000
TOP 5 APARTMENTS
1. 112 Orlando Street, Hampton $2,351,000
2. 153 George Street, Fitzroy $1,695,000
3. 1/15 Mcgregor Avenue, Black Rock $1,500,000
4. 2/62 Mathoura Road, Toorak $1,415,000
5. 1/7 Iona Avenue, Toorak $1,390,000
TOP 5 BARGAIN APARTMENTS
1. 1/8 Seaview Parade, Dromana $190,000
2. 1/696 Plenty Road, Reservoir $228,000
3. 1/95 Melbourne Road, Williamstown $233,000
4. 60A Lardner Road, Frankston $257,000
5. 8/54 Pender Street, Thornbury $280,000
Source: http://www.reiv.com.au/en/Property-Research
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