The clearance rate from the 112 auctions reported this weekend is 58 per cent.
Of the 112 auctions reported 65 sold and 47 were passed in. Of those passed in 28 were on a vendors bid.
As volumes remain low these results are unlikely to be an accurate indication of the current state of the market.
On this weekend last year there were 189 auctions and a clearance rate of 56 per cent.
Next weekend around 305 auctions are expected followed by 620 on the weekend of 18 and 19 February.
Enzo Raimondo
CEO REIV
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TOTAL AUCTIONS
This Week: 112
Last Week: 66
This time last year: 189
S Sold at Auction: 53
SB Sold before Auction: 12
SA Sold after Auction: 0
Passed in: 47
Passed in on vendor’s bid: 28
Clearance rate: 58%
Postponed: 2
Withdrawn: 1
Auctions with no result: 24
PS Private Sales: 517
Total Volume (Auctions): $29.66mil
Total Volume (Private Sales): $239.52mil
Total Auctions Houses: 71
Clearance Rate: 56%
Median Price: $462,500
Total Value: $19,998,750
Total Auctions Flats/Apartments: 30
Clearance Rate: 60%
Median Price: $408,000
Total Value: $7,343,500
Total Auctions Vacant Land: 9
Clearance Rate: 56%
Median Price: $449,750
Total Value: $1,860,500
House Sales in Detail
TOP 5 HOUSES
1. 34 Auburn Grove, Hawthorn East $1,204,000
2. 167 Milburn Road, Keilor $1,092,500
3. 3 Pintail Close, Bundoora $732,000
4. 23 Warramunga Road, Bundoora $710,000
5. 1 Kinross Street, Hampton East $705,250
TOP 5 BARGAIN HOUSES
1. 77 Childs Street, Melton South $220,500
2. 22 Lehmann Crescent, Frankston North $228,000
3. 28 Ashleigh Avenue, Frankston $270,000
4. 15 Winn Grove, Fawkner $360,000
5. 19 Elwers Road, Rosebud $370,000
Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 158 Newman Street, Kensington $787,000
2. 17 Daisy Street, Essendon $721,000
3. 2B Naples Street, Box Hill South $638,000
4. 42 Coates Street, Bentleigh $540,000
5. 348B Bay Road, Cheltenham $491,500
TOP 5 BARGAIN APARTMENTS
1. 36/568 New Street, Brighton $325,000
2. 56A Gowanbrae Drive, Gowanbrae $391,000
3. 2/51 Epsom Road, Kensington $425,000
4. 1/34 Chute Street, Mordialloc $426,000
5. 2/1 Brush Grove, Glen Waverley $445,000
The clearance rate for auctions in 2011 was 56 per cent compared to 71 per cent last year, 81 per cent in 2009 and 63 per cent in 2008.
The highest clearance rate in any week was 65 per cent in the week ending 13 March and the lowest was 49 per cent in the week ending 20 November.
As at 19 December there had been 28,807 auctions held in total. The number of auctions exceeds the number held in both 2009 and 2008 but is fewer than 2010, when there were 32,497 residential auctions.
The total value of auction sales was $11.6 billion compared to $16.8b in 2010, $12.1b in 2009 and $10.2b in 2008.
From an individual suburb perspective, the highest clearance rate was recorded in Wantirna South, where 82 per cent of homes sold. It was followed by Abbotsford, Balaclava, Gladstone Park and Warrandyte as the top five suburbs when ranked by clearance rate.
However, from the perspective of total sales by auction, Richmond had the most, with 336 sales at auction and a very strong clearance rate of 73 per cent. It was followed by Melbourne, Bentleigh East, Hawthorn and Reservoir as the top five suburbs when ranked by numbers sold.
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2011 Auction Statistics
Total Auctions: 28,807
Sold at Auction: 13,179
Sold before Auction: 2,803
Sold after Auction: 134
Passed in: 4,699
Passed in on vendor’s bid: 7,992
Clearance rate: 56%
Total Volume (Auctions): $11,602.37 mil
View a video wrap-up of the Melbourne property market for December 2011. Presented by Hodges Franchise Director, Warren Tate.
Hodges Market Report December 2011
The clearance rate this weekend is 55 per cent compared to 53 per cent last weekend and 57 per cent this weekend last year.
There is only one more normal weekend of auctions this year and it appears that the overall clearance rate in 2011 will be 56 per cent.
There has been a total of 803 auctions reported this weekend of which 439 sold and 364 were passed in, 230 of those on a vendors bid.
Next weekend the REIV expects 615 auctions.
Enzo Raimondo
CEO REIV
——————————————————————————–
Total Auctions
This weekend: 803
Last weekend: 761
This time last year: 1235
S Sold at Auction: 350
SB Sold before Auction: 87
SA Sold after Auction: 2
Passed in: 364
Passed in on vendor’s bid: 230
Clearance rate: 55%
Postponed: 8
Withdrawn: 5
Auctions with no result: 96
PS Private Sales: 599
Total Volume (Auctions): $306.83mil
Total Volume (Private Sales): $279.44mil
Total Auctions Houses: 552
Clearance Rate: 55%
Median Price: $645,000
Total Value: $233,623,557
Total Auctions Flats/Apartments: 235
Clearance Rate: 56%
Median Price: $508,250
Total Value: $71,297,850
Total Auctions Vacant Land: 14
Clearance Rate: 21%
Median Price: $400,000
Total Value: $1,910,000
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House Sales in Detail
TOP 5 HOUSES
1. 23 Swinton Avenue, Kew $3,592,500
2. 259 Scotchmer Street, Fitzroy North $3,185,000
3. 123 The Boulevard, Ivanhoe $1,975,000
4. 347 St Kilda Street, Brighton $1,925,000
5. 7 Rae Street, Hawthorn $1,895,000
TOP 5 BARGAIN HOUSES
1. 49 Exford Road, Melton South $192,500
2. 19 Rosemary Crescent, Frankston North $210,500
3. 33 Walnut Street, Whittlesea $259,500
4. 92 Dalray Crescent, Kurunjang $260,000
5. 10 Robertson Drive, Mornington $261,500
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Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 3.03/1 Wallace Avenue, Toorak $1,406,000
2. 15A Peel Street, Kew $1,160,000
3. 11A Raynes Street, Caulfield South $1,045,000
4. 9 Walsh Street, West Melbourne $1,032,500
5. 9B Charles Street, Bentleigh East $940,000
TOP 5 BARGAIN APARTMENTS
1. 21/44 Kneen Street, Fitzroy North $215,000
2. 9/45 Oakleigh Road, Carnegie $216,000
3. 3/34 Sharps Road, Tullamarine $237,000
4. 8/34 Gardenia Road, Elsternwick $275,500
5. 3/30 Delaware Street, Reservoir $286,750
The clearance rate from this weekends auctions is 55 per cent compared to 51 per cent last weekend and 60 per cent this weekend last year.
For the fifth week in a row there has been no substantive change in the level of demand at auctions and the REIV expects the current state of the market to continue till the end of the year.
There has been a total of 683 auctions reported of which 374 sold and 309 passed in, 216 of those on a vendors bid.
The REIV expects around 900 auctions next weekend.
Enzo Raimondo
CEO REIV
——————————————————————————–
Total Auctions
This weekend: 683
Last weekend: 968
This time last year: 1071
S Sold at Auction: 306
SB Sold before Auction: 67
SA Sold after Auction: 1
Passed in: 309
Passed in on vendor’s bid: 216
Clearance rate: 55%
Postponed: 0
Withdrawn: 4
Auctions with no result: 118
PS Private Sales: 493
Total Volume (Auctions): $276.98mil
Total Volume (Private Sales): $231.21mil
Total Auctions Houses: 456
Clearance Rate: 54%
Median Price: $725,000
Total Value: $204,538,499
Total Auctions Flats/Apartments: 214
Clearance Rate: 57%
Median Price: $495,000
Total Value: $66,646,250
Total Auctions Vacant Land: 13
Clearance Rate: 46%
Median Price: $1,800,000
Total Value: $5,793,000
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House Sales in Detail
TOP 5 HOUSES
1. 31 Adelaide Street, Armadale $2,425,000
2. 157 Leicester Street, Fitzroy $2,360,000
3. 8 Bolton Avenue, Hampton $2,250,000
4. 4 Coombs Avenue, Kew $1,850,000
5. 13 Lofty Avenue, Camberwell $1,725,000
TOP 5 BARGAIN HOUSES
1. 47 Orrong Avenue, Reservoir $320,000
2. 3 Stewart Grove, Campbellfield $328,000
3. 5A Vines Court, Mill Park $330,000
4. 10 Lyndall Road, Belgrave South $335,000
5. 3 Hotham Street, Braybrook $375,000
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Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 17.3/193 Domain Road, South Yarra $2,250,000
2. 1/5 Woorigoleen Road, Toorak $1,550,000
3. 29 Holroyd Avenue, St Kilda East $1,250,000
4. 2/2 Marine Avenue, St Kilda $1,115,000
5. 6 Harold Street, Sandringham $1,102,000
TOP 5 BARGAIN APARTMENTS
1. 13/17 Park Street, Hawthorn $250,000
2. 4/28 Ormond Road, West Footscray $265,500
3. 13/176 Rathcown Road, Reservoir $292,500
4. 13/1 Greenfield Street, Clayton $300,000
5. 1/80 Alexander Avenue, Thomastown $315,000
The clearance rate this weekend is 53 per cent compared to 50 per cent last weekend and 59 per cent this weekend last year.
Results from the last months auctions show how evenly balanced the market is with half the auctions resulting in a sale. This provides buyers with considerable opportunities to make offers on homes that are not being sold at their auction.
There were a total of 899 auctions reported of which 477 sold and 422 were passed in, 264 of those on a vendors bid.
Next weekend the REIV expects around 800 auctions and 925 the weekend after.
Enzo Raimondo
CEO REIV
——————————————————————————–
Total Auctions
This weekend: 899
Last weekend: 762
This time last year: 1101
S Sold at Auction: 396
SB Sold before Auction: 80
SA Sold after Auction: 1
Passed in: 422
Passed in on vendor’s bid: 264
Clearance rate: 53%
Postponed: 7
Withdrawn: 10
Auctions with no result: 97
PS Private Sales: 528
Total Volume (Auctions): $351.4mil
Total Volume (Private Sales): $260.05mil
Total Auctions Houses: 612
Clearance Rate: 52%
Median Price: $727,500
Total Value: $262,114,900
Total Auctions Flats/Apartments: 265
Clearance Rate: 57%
Median Price: $526,000
Total Value: $83,614,750
Total Auctions Vacant Land: 19
Clearance Rate: 42%
Median Price: $450,000
Total Value: $2,967,000
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House Sales in Detail
TOP 5 HOUSES
1. 98-100 Mont Albert Road, Canterbury $3,380,000
2. 99 Canterbury Road, Toorak $2,700,000
3. 4b Lorac Avenue, Brighton $2,425,000
4. 45 First Avenue, Kew $2,350,000
5. 5 Binnie Street, Brighton East $1,950,000
TOP 5 BARGAIN HOUSES
1. 6 Fell Road, Cockatoo $230,000
2. 37 Morwell Crest, Dallas $284,000
3. 55 Dickens Street, Lalor $314,500
4. 7 Malanda Court, Berwick $315,000
5. 397 Browns Road, Rye $325,000
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Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 6/50 Marne Street, South Yarra $1,900,000
2. 2/11 Rowland Street, Mont Albert $1,050,000
3. 1/2A Dendy Street, Brighton $930,000
4. 73 Mckinnon Road, Mckinnon $925,000
5. 8/16-18 Abinger Street, Richmond $925,000
TOP 5 BARGAIN APARTMENTS
1. 4/5 Gnarwyn Road, Carnegie $268,000
2. 2/58 Templestowe Road, Bulleen $285,000
3. 3/38 Rankins Road, Kensington $290,000
4. 13/7 Davison Street, Richmond $290,000
5. 3/23 Acland Street, St Kilda $300,000
The Melbourne auction market has been typified by consistently moderate levels of demand this year and this weekend is no different with a clearance rate of 53 per cent being recorded.
This compares to 51 per cent last weekend and 57 per cent this weekend last year.
There have been a total of 668 auctions this weekend of which 352 sold and 316 were passed in, 204 of those on a vendors bid.
Next weekend the REIV expects around 1045 auctions next weekend.
Enzo Raimondo
CEO REIV
——————————————————————————–
Total Auctions
This weekend: 668
Last weekend: 815
This time last year: 1013
S Sold at Auction: 303
SB Sold before Auction: 48
SA Sold after Auction: 1
Passed in: 316
Passed in on vendor’s bid: 204
Clearance rate: 53%
Postponed: 1
Withdrawn: 4
Auctions with no result: 115
PS Private Sales: 522
Total Volume (Auctions): $271.1mil
Total Volume (Private Sales): $253.2mil
Total Auctions Houses: 465
Clearance Rate: 52%
Median Price: $741,250
Total Value: $203,935,100
Total Auctions Flats/Apartments: 191
Clearance Rate: 54%
Median Price: $521,250
Total Value: $59,896,500
Total Auctions Vacant Land: 10
Clearance Rate: 50%
Median Price: $375,000
Total Value: $3,204,000
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House Sales in Detail
TOP 5 HOUSES
1. 24-26 Maltravers Road, Eaglemont $2,550,000
2. 39 Hannan Street, Williamstown $2,430,000
3. 7 Rothesay Avenue, Brighton $2,050,000
4. 382 Dandenong Road, Caulfield North $2,025,000
5. 125 Powlett Street, East Melbourne $1,925,000
TOP 5 BARGAIN HOUSES
1. 52 Williamstown Road, Kingsville $265,000
2. 45 Alma Street, Craigieburn $286,000
3. 99 Doveton Avenue, Eumemmerring $303,000
4. 13 Mereweather Avenue, Frankston $312,500
5. 45 Anthony Drive, Chirnside Park $360,000
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Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 41A Brunel Street, Malvern East $1,020,000
2. 7 Howard Street, South Yarra $875,000
3. 3B/516 Toorak Road, Toorak $870,000
4. 3 Broomfield Road, Hawthorn East $865,000
5. 2/45 Rose Street, Mckinnon $856,000
TOP 5 BARGAIN APARTMENTS
1. 6/3 Gordon Street, Footscray $206,500
2. 10/48 Sutherland Road, Armadale $280,000
3. 5/25 Broadmeadows Road, Tullamarine $280,000
4. 2/19 Beaumont Parade, West Footscray $282,000
5. 2/56A Albert Avenue, Springvale $298,000
Finance expert Tom Elliott presents the December 2011 Hodges Financial Report video with a review of recent financial decisions and trends affecting the property market in Melbourne and Australia.
Click to view:
Hodges Financial Report December 2011
The clearance rate this weekend is 54 per cent compared to 50 per cent on each of the past two weekends and 59 per cent this weekend last year.
With a high number of auctions over the next two weekends vendors will be hoping the small improvement recorded today is the start of a cycle of strengthening demand.
There have been a total of 713 auctions this weekend of which 383 sold and 330 were passed in, 214 of those on a vendors bid.
Next weekend the REIV expects around 815 auctions and 1045 on the last weekend in the month.
Enzo Raimondo
CEO REIV
——————————————————————————–
Total Auctions
This weekend: 713
Last weekend: 576
This time last year: 921
S Sold at Auction: 323
SB Sold before Auction: 60
SA Sold after Auction: 0
Passed in: 330
Passed in on vendor’s bid: 214
Clearance rate: 54%
Postponed: 6
Withdrawn: 4
Auctions with no result: 123
PS Private Sales: 468
PS Private Sales: 470
Total Volume (Auctions): $287.97mil
Total Volume (Private Sales): $251.95mil
Total Auctions Houses: 487
Clearance Rate: 52%
Median Price: $710,000
Total Value: $213,362,250
Total Auctions Flats/Apartments: 212
Clearance Rate: 58%
Median Price: $516,000
Total Value: $69,652,425
Total Auctions Vacant Land: 13
Clearance Rate: 38%
Median Price: $440,000
Total Value: $2,750,500
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House Sales in Detail
TOP 5 HOUSES
1. 12 Victoria Street, Williamstown $2,400,000
2. 29 Guildford Road, Surrey Hills $2,185,000
3. 24 St Johns Avenue, Springvale $2,010,000
4. 37 St Georges Road, Elsternwick $1,800,000
5. 111 Rowe Street, Fitzroy North $1,711,000
TOP 5 BARGAIN HOUSES
1. 37 Meakin Way, Deer Park $290,000
2. 446 Waterfall Gully Road, Rosebud $325,000
3. 2B Tarana Avenue, Glenroy $337,000
4. 3 Pritchard Avenue, Braybrook $350,000
5. 8 Locke Street, Rye $360,000
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Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 4 Penny Lane, South Yarra $1,410,000
2. 6 Penny Lane, South Yarra $1,340,000
3. 4/14 Grange Road, Toorak $1,305,000
4. 393 Glen Eira Road, Caulfield North $1,210,000
5. 3 Reilly Place, South Melbourne $1,100,000
TOP 5 BARGAIN APARTMENTS
1. 215/408 Lonsdale Street, Melbourne $195,000
2. 10/99 Melbourne Road, Williamstown $240,000
3. 2/44 Type Street, Richmond $250,000
4. 3/7 Truganini Road, Carnegie $263,000
5. 5/14 Olive Street, Caulfield South $283,000
The clearance rate this weekend is 53 per cent compared to 50 per cent last weekend and 59 per cent for this weekend last year.
There have been 525 auctions reported of which 277 sold and 248 passed in, 157 of those on a vendors bid.
Stock levels will continue to increase over the next few weekends with around 2,600 auctions scheduled between now and the end of November.
Enzo Raimondo
CEO REIV
——————————————————————————–
Total Auctions
This week: 525
Last week: 417
This time last year: 704
S Sold at Auction: 228
SB Sold before Auction: 49
SA Sold after Auction: 0
Passed in: 248
Passed in on vendor’s bid: 157
Clearance rate: 53%
Postponed: 3
Withdrawn: 2
Auctions with no result: 72
PS Private Sales: 465
Total Volume (Auctions): $203.69mil
Total Volume (Private Sales): $205.49mil
Total Auctions Houses: 357
Clearance Rate: 52%
Median Price: $712,000
Total Value: $157,863,950
Total Auctions Flats/Apartments: 159
Clearance Rate: 55%
Median Price: $480,000
Total Value: $44,549,580
Total Auctions Vacant Land: 9
Clearance Rate: 56%
Median Price: $235,000
Total Value: $1,280,500
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House Sales in Detail
TOP 5 HOUSES
1. 15 Chastleton Avenue, Toorak $4,135,000
2. 8 Moule Avenue, Brighton $2,310,000
3. 17 Hedderwick Stree t, Essendon $2,300,000
4. 24 Roslyn Street, Brighton $2,300,000
5. 151 Back Beach Road, Portsea $2,038,000
TOP 5 BARGAIN HOUSES
1. 5/5 Kincumber Drive, Croydon $265,000
2. 22 Millewa Crescent, Dallas $300,000
3. 18 Brindalee Place, Cranbourne $318,000
4. 106 Ripplebrook Drive, Broadmeadows $340,000
5. 2 Edgewood Close, Thomastown $350,000
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Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 1/67 Cecil Street, Kew $1,160,000
2. 100A Glencairn Avenue, Brighton East $1,035,000
3. 24 Wangaratta Street, Richmond $1,011,000
4. 2/483 Royal Parade, Parkville $901,000
5. 10/512 Toorak Road, Toorak $900,000
TOP 5 BARGAIN APARTMENTS
1. 11/72 Baker Street, Richmond $252,000
2. 29 Lichfield Avenue, Jacana $300,000
3. 3/90 Normanby Avenue, Thornbury $300,000
4. 14/14 Crimea Street, St Kilda $301,000
5. 2/128 Park Street, Moonee Ponds $307,000
The clearance rate this weekend is 53 per cent compared to 53 per cent last weekend and 66 per cent this weekend last year.
It has been twelve months since the Reserve Bank last increased interest rates. This Tuesday, buyers, sellers and mortgage holders will be hoping to see a cut to rates and if it occurs it will help encourage more buyers into the market, particularly in 2012.
There were a total of 362 auctions reported this weekend of which 193 sold and 169 were passed in, 113 of those on a vendors bid.
The REIV expects around 595 auctions next weekend followed by 870 the weekend after.
Enzo Raimondo
CEO REIV
——————————————————————————–
Total Auctions
This week: 362
Last week: 823
This time last year: 410
S Sold at Auction: 163
SB Sold before Auction: 30
SA Sold after Auction: 0
Passed in: 169
Passed in on vendor’s bid: 113
Clearance rate: 53%
Postponed: 3
Withdrawn: 4
Auctions with no result: 71
PS Private Sales: 515
Total Volume (Auctions): $128.11mil
Total Volume (Private Sales): $261.09mil
Total Auctions Houses: 232
Clearance Rate: 55%
Median Price: $659,000
Total Value: $97,421,200
Total Auctions Flats/Apartments: 117
Clearance Rate: 53%
Median Price: $458,500
Total Value: $30,050,500
Total Auctions Vacant Land: 9
Clearance Rate: 22%
Median Price: $168,000
Total Value: $336,000
——————————————————————————–
House Sales in Detail
TOP 5 HOUSES
1. 34 Chatsworth Road, Prahran $3,137,500
2. 77 Grey Street, East Melbourne $2,832,500
3. 9 Laverton Street, Williamstown $2,000,000
4. 22 Rockingham Street, Kew $1,880,000
5. 154-156 Francis Street, Yarraville $1,872,000
TOP 5 BARGAIN HOUSES
1. 15 Warrah Street, Mornington $283,500
2. 35 Wright Street, Laverton $295,000
3. 30 Strawberry Road, Kurunjang $301,000
4. 10 Chisholm Court, Mill Park $348,000
5. 4 Dunk Close, Mill Park $348,000
——————————————————————————–
Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 3703/1 Freshwater Place, Southbank $840,000
2. 2/7 Griffiths Court, Mount Waverley $740,000
3. 1705/8 McCrae Street, Docklands $732,000
4. 5/46 Middleton Street, Black Rock $690,000
5. 23/22 Bosisto Street, Richmond $660,000
TOP 5 BARGAIN APARTMENTS
1. 3/6 Griffiths Street, Reservoir $253,000
2. 5/50 Normanby Avenue, Thornbury $253,000
3. 410/99 A’Beckett Street, Melbourne $262,500
4. 4/26 Darebin Road, Northcote $264,000
5. 1/19 Burton Avenue, Clayton $288,000