Melbourne Property Sales Results
for Saturday 3rd & Sunday 4th May 2014
A clearance rate of 70 per cent was recorded this weekend compared to 67 per cent last weekend and 69 per cent this weekend last year.
There were 704 auctions reported to the REIV this weekend, with 496 selling and 208 being passed in, 103 of those on a vendor bid.
REIV’s forward projections suggest that there will be more than 3,000 auctions to be held in the month of May which will again be higher than the 10-year average for May of 2,835 auctions. The long-term average clearance rate for May is 70 per cent but it is likely that clearance rates in the coming weeks will be at or slightly below this average.
Next weekend the REIV expects about 670 auctions.
Enzo Raimondo
CEO REIV
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1300 577 233
S Sold at Auction: 410
SB Sold before Auction: 84
SA Sold after Auction: 2
Passed in: 208
Passed in on vendor's bid: 103
Clearance rate: 70%
TOTAL AUCTIONS
This week: 704
Yesterday: 12
Last Sunday: 12
This weekend last month: 1076
This weekend last year: 748
CLEARANCE RATES:
Weekend: 70%
Yesterday: 75%
Last Sunday: 67%
This weekend last month: 69%
This weekend last year: 69%
Postponed: 18
Withdrawn: 11
Auctions with no result: 117
PS Private Sales: 479
Total Volume (Auctions): $322.93mil
Total Volume (Private Sales): $257.27mil
Total Auctions Houses: 471
Clearance Rate: 72%
Median Price: $700,000
Total Value: $237,985,888
Total Auctions Flats/Apartments: 223
Clearance Rate: 68%
Median Price: $495,000
Total Value: $81,311,600
Total Auctions Vacant Land: 10
Clearance Rate: 70%
Median Price: $277,500
Total Value: $3,633,000
TOP 5 HOUSES
1. 4 Woorigoleen Road, Toorak $3,075,000
2. 11 Codrington Street, Sandringham $2,376,000
3. 9 Seaton Street, Glen Iris $2,060,000
4. 6 Taroona Place, Port Melbourne $2,000,000
5. 106 Bay Road, Sandringham $1,825,000
TOP 5 BARGAIN HOUSES
1. 5 Kimbla Court, Hastings $191,000
2. 64 Purchas Street, Werribee $264,000
3. 25 Limpopa Square, Roxburgh Park $280,500
4. 17 Wattle Drive, Frankston $287,000
5. 22 Railway Place, Werribee $300,000
TOP 5 APARTMENTS
1. 11A Wolseley Grove, Brighton $3,220,000
2. 16 Devorgilla Avenue, Toorak $2,178,000
3. 508/107 Beach Street, Port Melbourne $1,525,000
4. 37A Mclachlan Street, Templestowe $980,000
5. 11A Harding Street, Bentleigh $980,000
TOP 5 BARGAIN APARTMENTS
1. 10/21 Hampton Road, West Footscray $185,000
2. 1/12 Ventnor Crescent, Coolaroo $232,000
3. 15/250 Sunshine Avenue, Kealba $250,000
4. 23/30-42 Hanna Street, Noble Park $266,000
5. 23/55 Buckley Street, Moonee Ponds $280,000.
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Source: http://www.reiv.com.au/en/Property-Research