Melbourne Property Sales Results
for Saturday 15th March 2014
A clearance rate of 73 per cent was recorded this weekend compared to 67 per cent last weekend and 68 per cent this weekend last year.
There were 809 auctions reported to the REIV today, with 594 selling and 215 being passed in, 126 of those on a vendor bid.
After this week’s auctions, around 3,500 homes will have sold under the hammer so far this year.
We have had a big rise in the number of homes being sold by auction this year which continued on from the strength in the second half of last year.
Having said that, total transactions are tracking lower than this time last year with a notable decrease in private sales. This indicates that while the premium end of the market is doing well, the more affordable and more substantial private sale market is showing signs of a slowdown.
Next weekend the REIV expects around 1,110 auctions.
Enzo Raimondo
CEO REIV
RESIDENTIAL
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1300 577 233
S Sold at Auction: 491
SB Sold before Auction: 102
SA Sold after Auction: 1
Passed in: 215
Passed in on vendor's bid: 126
Clearance rate: 73%
TOTAL AUCTIONS
This week: 809
Last weekend: 287
This time last year: 801
Postponed: 17
Withdrawn: 11
Auctions with no result: 133
PS Private Sales: 389
Total Volume (Auctions): $476.36mil
Total Volume (Private Sales): $203.11mil
Total Auctions Houses: 528
Clearance Rate: 75%
Median Price: $777,000
Total Value: $359,087,321
Total Auctions Flats/Apartments: 266
Clearance Rate: 70%
Median Price: $561,000
Total Value: $111,866,100
Total Auctions Vacant Land: 15
Clearance Rate: 73%
Median Price: $405,000
Total Value: $5,409,000
TOP 5 HOUSES
1. 54 Glyndon Road, Camberwell $3,430,000
2. 81 Grey Street, East Melbourne $2,410,000
3. 75 Stanhope Street, Malvern $2,370,000
4. 87 Baird Street, Brighton East $2,350,000
5. 7 Benambra Drive, Templestowe Lower $2,315,000
TOP 5 BARGAIN HOUSES
1. 7 Magnolia Avenue, Kings Park $253,500
2. 3/28 De Villiers Drive, Dandenong $302,000
3. 64 Rossiter Avenue, Roxburgh Park $307,500
4. 137 Reservoir Road, Sunbury $320,000
5. 9 Wombat Court, Westmeadows $332,000
TOP 5 APARTMENTS
1. 170-174 Cardigan Street, Carlton $3,400,000
2. 46A Kinkora Road, Hawthorn $2,071,000
3. 1/3 Hillside Parade, Glen Iris $1,500,000
4. 9/7 Gordon Street, Toorak $1,450,000
5. 56 Lord Street, Richmond $1,335,000
TOP 5 BARGAIN APARTMENTS
1. C3/85-87 Haines Street, North Melbourne $270,000
2. 15/34 Royal Avenue, Glen Huntly $272,000
3. 2/51 Stirling Street, Footscray $285,000
4. 9/34 Gardenia Road, Gardenvale $290,000
5. 6/56 Carlisle Street, St Kilda $300,000
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Source: http://www.reiv.com.au/en/Property-Research