Melbourne Property Sales Results
for Saturday 22nd and Sunday 23rd March 2014
A clearance rate of 75 per cent was recorded this weekend compared to 72 per cent last weekend and 67 per cent this weekend last year.
There were 892 auctions reported to the REIV this weekend, with 666 selling and 226 being passed in, 104 of those on a vendor bid.
So far this year, there have been 26% more homes sold at auction than last year – the highest in six years. The average clearance rate is 72% which is also a healthy outcome in comparison to 67% this time last year.
Some suburbs have performed exceptionally well such as Bentleigh East (93%), Highett (92%), and Kensington (91%).
Next weekend the REIV expects around 1,350 auctions which is likely to be the biggest auction weekend so far in the year.
Enzo Raimondo
CEO REIV
Request Your Free Strategy Session Here
1300 577 233
S Sold at Auction: 537
SB Sold before Auction: 127
SA Sold after Auction: 2
Passed in: 226
Passed in on vendor's bid: 104
Clearance rate: 75%
TOTAL AUCTIONS
This week: 892
Yesterday: 12
Last Sunday: 27
This weekend last month: 1265
This weekend last year: 1176
CLEARANCE RATES:
Weekend: 75%
Yesterday: 92%
Last Sunday: 69%
This weekend last month: 73%
This weekend last year: 67%
Postponed: 14
Withdrawn: 7
Auctions with no result: 177
PS Private Sales: 438
Total Volume (Auctions): $529.92mil
Total Volume (Private Sales): $216.92mil
Total Auctions Houses: 579
Clearance Rate: 76%
Median Price: $790,500
Total Value: $392,680,188
Total Auctions Flats/Apartments: 282
Clearance Rate: 74%
Median Price: $567,500
Total Value: $125,623,188
Total Auctions Vacant Land: 27
Clearance Rate: 56%
Median Price: $401,750
Total Value: $5,961,500
TOP 5 HOUSES
1. 34 Christowel Street, Camberwell $2,900,000
2. 8 Winifred Crescent, Toorak $2,850,000
3. 858 Drummond Street, Carlton North $2,550,000
4. 114 Male Street, Brighton $2,150,000
5. 82 Hall Street, Ormond $2,120,000
TOP 5 BARGAIN HOUSES
1. 10 Georges Road, Ringwood $300,000
2. 55 Mulhall Drive, St Albans $300,000
3. 604 Main Road West, Kings Park $305,000
4. 134 Centenary Drive, Mill Park $320,777
5. 31/337 Station Street, Thornbury $331,000
TOP 5 APARTMENTS
1. 2/7 Kara Grove, Aspendale $2,025,000
2. 6 Keys Avenue, Brighton East $1,500,000
3. 3/55-57 Manningtree Road, Hawthorn $1,380,000
4. 1/11 Park Street, Brighton $1,330,000
5. 7A Talbot Crescent, Kooyong $1,280,000
TOP 5 BARGAIN APARTMENTS
1. 2/93 Glenhuntly Road, Elwood $210,000
2. 3/15 Navigator Street, Maribyrnong $230,000
3. 1/43 Jamison Street, Altona Meadows $258,000
4. 2/831 Park Street, Brunswick $262,000
5. 3/37 Boldrewood Parade, Reservoir $271,000
Source: http://www.reiv.com.au/en/Property-Research
Register Here for Free Property Investing Tips / Strategies