Melbourne Property Sales Results
for Saturday 29th and Sunday 30th March 2014
A clearance rate of 71 per cent was recorded this weekend compared to 72 per cent last weekend and 69 per cent this weekend last year.
There were 1053 auctions reported to the REIV today, with 746 selling and 307 being passed in, 173 of those on a vendor bid.
More than 4,600 auctions have been held in March, 30 per cent higher than the previous record of 3,525 auctions held in 2008. The monthly clearance rate is about 72 per cent and shows the resilience of buyer demand and vendor confidence in the market despite continued economic uncertainty.
The sales in March have also bolstered median prices for the quarter which is expected to report moderate growth in seasonally adjusted terms.
Next weekend the REIV expects around 1,220 auctions.
Enzo Raimondo
CEO REIV
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RESIDENTIAL
S Sold at Auction: 617
SB Sold before Auction: 125
SA Sold after Auction: 4
Passed in: 307
Passed in on vendor's bid: 173
Clearance rate: 71%
TOTAL AUCTIONS
This week: 1053
Last weekend: 1022
This time last year: 42
Postponed: 14
Withdrawn: 12
Auctions with no result: 191
PS Private Sales: 452
Total Volume (Auctions): $647.03mil
Total Volume (Private Sales): $253.06mil
Total Auctions Houses: 698
Clearance Rate: 72%
Median Price: $852,500
Total Value: $488,764,150
Total Auctions Flats/Apartments: 334
Clearance Rate: 68%
Median Price: $550,000
Total Value: $137,739,350
Total Auctions Vacant Land: 13
Clearance Rate: 54%
Median Price: $391,500
Total Value: $3,221,500
TOP 5 HOUSES
1. 21 Monash Avenue, Balwyn $3,520,000
2. 17 Rolls Court, Glen Waverley $3,416,000
3. 4 Mt Ida Avenue, Hawthorn East $3,235,500
4. 69 Alfred Crescent, Fitzroy North $3,140,000
5. 9 Fairfield Avenue, Camberwell $2,888,000
TOP 5 BARGAIN HOUSES
1. 2 Dalton Drive, Melton South $179,000
2. 17 Leggatt Street, Melton South $201,000
3. 186 Hodgins Road, Hastings $210,000
4. 18 Aleppo Crescent, Frankston North $220,000
5. 7 Westcott Parade, Rockbank $285,000
TOP 5 APARTMENTS
1. 487-489 Nicholson Street, Carlton North $1,724,000
2. 5 Isabella Street, Malvern $1,550,000
3. 16A South Road, Brighton $1,450,000
4. 3/14 Wilson Street, Mont Albert $1,427,500
5. 1/15 Maylands Avenue, Balwyn North $1,400,000
TOP 5 BARGAIN APARTMENTS
1. 1110/131 Pelham Street, Carlton $163,500
2. 13/3 Gourlay Road, Hillside $230,000
3. 2/200 Edwardes Street, Reservoir $235,000
4. 4/11 Johnson Street, Reservoir $257,500
5. 3/11 Johnson Street, Reservoir $257,500
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Source: http://www.reiv.com.au/en/Property-Research