Sunday 10 May 2009
Whilst the auction market continues to produce healthy clearance rates in the mid seventies it is the private sale market that is exceeding expectations. This is due to the fact that the median price of a house sold by private sale is lower than those sold at auction indicating that buyers in the middle and affordable segments of the market are dominating residential property sales.
There were 439 auctions reported this weekend of which 256 sold resulting in a clearance rate of 76 per cent. There were 106 homes offered at auction passed in, of which 70 were passed in on a vendors bid.
The REIV is expecting just under 500 auctions next weekend and then just over 500 for the following two weekends.
Enzo Raimondo
CEO REIV
TOTAL AUCTIONS
This week: 439
Last weekend: 388
This time last year: 642
S Sold at Auction: 256
SB Sold before Auction: 73
SA Sold after Auction: 4
Passed in on vendor's bid: 70
Withdrawn: 1
Auctions with no result: 41
Clearance Rate: 76%
Median Price: $607,750
Clearance Rate: 77%
Median Price: $446,750
Clearance Rate: 69%
Median Price: $386,000
1. 4 Turnbull Avenue, Toorak $2,360,000
2. 4 Blythswood Court, Kew $1,950,000
3. 130 Were Street, Brighton $1,875,000
4. 31 Gipps Street, East Melbourne $1,850,000
5. 10 Elphin Grove, Canterbury $1,700,000
1. 40 Burleigh Road, Melton $195,000
2. 8 Nambet Place, Kurunjang $224,000
3. 10 Hornbuckle Crescent, Melton $242,400
4. 76 Wright Street, Sunshine $252,500
5. 4 Widdy Court, Sunshine West $255,000
1. 3/366 Beach Road, Black Rock $1,600,000
2. 3/545 Toorak Road, Toorak $1,400,000
3. 47/350 Beaconsfield Parade, St Kilda West $1,200,000
4. 4 Bedford Street, Collingwood $1,060,000
5. 22A Lindsay Street, Mckinnon $839,000
1. 5/32 Empire Street, Footscray $177,000
2. 15/13 Ormond Road, Footscray West $185,000
3. 1/18 Ranfurlie Circuit, Melton West $215,000
4. 3/13 Lambert Street, Richmond $239,000
5. 9/10 Station Street, Fairfield $250,000