Melbourne Property Sales Results
for Saturday 10th and Sunday 11th May 2014
A clearance rate of 70 per cent was recorded this weekend, compared to 69 per cent last weekend and 70 per cent this weekend last year.
There were 576 auctions reported to the REIV this weekend, with 401 selling and 175 being passed in, 99 of those on a vendor bid.
The final clearance rate hasn’t risen above 70 per cent since the week ending 23 March 2014.
The clearance rate is trending lower, however auction numbers remain high. The next two weekends expected to have about 1,000 auctions each.
This would push up the total number of auctions for the month of May to 3,700, which is higher than the long-term average.
Enzo Raimondo
CEO REIV
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S Sold at Auction: 311
SB Sold before Auction: 89
SA Sold after Auction: 1
S Sold at Auction: 311SB Sold before Auction: 89SA Sold after Auction: 1
Passed in: 175
Passed in on vendor's bid: 99
Clearance rate: 70%
TOTAL AUCTIONS
This week: 576
Yesterday: 2
Last Sunday: 19
This weekend last month: 1397
This weekend last year: 732
CLEARANCE RATES:
Weekend: 70%
Yesterday: N/A
Last Sunday: 79%
This weekend last month: 70%
This weekend last year: 70%
Postponed: 12
Withdrawn: 7
Auctions with no result: 45
PS Private Sales: 452
Total Volume (Auctions): $290.45mil
Total Volume (Private Sales): $254.81mil
Total Auctions Houses: 376
Clearance Rate: 70%
Median Price: $770,000
Total Value: $216,439,794
Total Auctions Flats/Apartments: 183
Clearance Rate: 70%
Median Price: $520,000
Total Value: $69,143,300
Total Auctions Vacant Land: 13
Clearance Rate: 54%
Median Price: $515,000
Total Value: $4,138,000
TOP 5 HOUSES
1. 110 Vale Street, East Melbourne $3,025,000
2. 95 Kooyongkoot Road, Hawthorn $2,775,000
3. 29 Brazilia Drive, Glen Waverley $2,416,000
4. 832 Esplanade, Mornington $1,900,000
5. 9 Bella Vista Road, Glen Iris $1,900,000
TOP 5 BARGAIN HOUSES
1. 22 Oak Avenue, Doveton $269,000
2. 37 Nightingale Drive, Werribee $280,000
3. 21 Hughes Crescent, Dandenong North $325,500
4. 10 Paringa Avenue, South Morang $347,500
5. 39 Hendersons Road, Epping $350,000
TOP 5 APARTMENTS
1. 2/6 Wellington Crescent, East Melbourne $1,360,000
2. 13A Rose Street, Highett $1,228,000
3. 2/64 Burke Road, Malvern East $1,157,000
4. 1/33 Myrniong Grove, Hawthorn East $1,150,000
5. 50 Were Street, Brighton $1,135,000
TOP 5 BARGAIN APARTMENTS
1. 16/6 Garnet Street, Brunswick $229,500
2. 7/116 Inkerman Street, St Kilda $235,000
3. 8 Elinda Place, Reservoir $265,000
4. 12/42 Middle Road, Maribyrnong $290,000
5. 6/3 Denbigh Street, Frankston $295,000
Source: http://www.reiv.com.au/en/Property-Research
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