Melbourne Property Sales Results
for Saturday 12th April 2014
A clearance rate of 70 per cent was recorded this weekend compared to 69 per cent last weekend and 68 per cent this weekend last year.
There were 1023. auctions reported to the REIV today, with 893 selling and 332 being passed in, 170 of those on a vendor bid.
While the auction volumes have been high so far this year, there are signs that clearance rates are trending lower. The median price increase in the March quarter 2014 was also moderate at 3.7%, as the market shows signs of a more sustainable level of growth.
Next weekend the REIV expects about 60 auctions due to the Easter weekend.
Enzo Raimondo
CEO REIV
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S Sold at Auction: 667
SB Sold before Auction: 123
SA Sold after Auction: 2
Passed in: 332
Passed in on vendor's bid: 170
Clearance rate: 70%
TOTAL AUCTIONS
This week: 1124
Last weekend: 1076
This time last year: 523
Postponed: 7
Withdrawn: 14
Auctions with no result: 376
PS Private Sales: 424
Total Volume (Auctions): $604.93mil
Total Volume (Private Sales): $233.31mil
Total Auctions Houses: 673
Clearance Rate: 73%
Median Price: $760,000
Total Value: $418,281,348
Total Auctions Flats/Apartments: 441
Clearance Rate: 67%
Median Price: $556,500
Total Value: $182,390,821
Total Auctions Vacant Land: 9Clearance Rate: 67%Median Price: $775,000Total Value: $4,256,000TOP 5 HOUSES1. 338 Cotham Road, Kew $2,753,0002. 18 Turner Street, Malvern East $2,425,0003. 11 Young Street, Brighton $2,165,0004. 20 & 22 Elgin Avenue, Armadale $2,121,0005. 13 Canterbury Road, Albert Park $2,120,000TOP 5 BARGAIN HOUSES1. 24 Manning Avenue, Kurunjang $235,0002. 10 Hadley Lane, Craigieburn $255,0003. 43 Leonid Drive, Rockbank $270,0004. 39 Wattleglen Street, Craigieburn $284,0005. 13 Scarlet Drive, Doveton $311,000TOP 5 APARTMENTS1. 1/47 O'Grady Street, Albert Park $2,470,0002. 1/31 Monomeath Avenue, Canterbury $1,761,0003. 19 Barrow Place, Burnley $1,750,0004. 52A Denman Avenue, Glen Iris $1,615,0005. 133 Simpson Street, East Melbourne $1,565,000TOP 5 BARGAIN APARTMENTS1. 15/1310 Sydney Road, Fawkner $246,0002. 10/562 Pascoe Vale Road, Pascoe Vale $275,0003. 15/441 Brunswick Road, Brunswick $295,0004. 27B Lloyd Avenue, Reservoir $301,0005. 307/10 Bruce Street, Box Hill $305,000
Source: http://www.reiv.com.au/en/Property-Research
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