Weekly Auction & Sales Results, Market Overview Saturday 6th November 2010

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Weekly Auction & Sales Results, Market Overview

Saturday 6th November 2010


he interest rate increase has certainly had an impact on buyer confidence this weekend with a clear drop in the clearance rate compared to the past few months.

Some buyers will be concerned that more banks will increase rates independent of the Reserve Bank.

This also means November is shaping as a month with good opportunities for buyers; with 588 auction results reported this weekend, 920 expected next weekend followed by two weekends with just over 1000 auctions. This will see around 3600 auctions in November, the highest number of auctions in any month this year.

The clearance rate from this weekends auction is 61 per cent. There have been 588 auctions reported, 359 sold, 229 passed in, 152 of those on a vendors bid.

This weekend last year saw 524 auctions with a clearance rate of 81 per cent.

Enzo Raimondo
CEO REIV




TOTAL AUCTIONS

This week: 588
Last Weekend: 368
This time last year: 503

S Sold at Auction: 277
SB Sold before Auction: 80
SA Sold after Auction: 2

Passed in: 229
Passed in on vendor's bid: 152

Clearance rate: 61%

Postponed: 3
Withdrawn: 1
Auctions with no result: 100

PS Private Sales: 526

Total Volume (Auctions): $249.52mil
Total Volume (Private Sales): $289.31mil

Total Auctions Houses: 407
Clearance Rate: 61%
Median Price: $657,750
Total Value: $184,021,500

Total Auctions Flats/Apartments: 175
Clearance Rate: 61%
Median Price: $515,000
Total Value: $62,852,100

Total Auctions Vacant Land: 6
Clearance Rate: 67%
Median Price: $450,500
Total Value: $2,646,000

House Sales in Detail


TOP 5 HOUSES
1. 18 Currajong Avenue, Camberwell $3,375,000
2. 45 Dickens Street, Elwood $3,335,000
3. 30 Glendearg Grove, Malvern $2,305,000
4. 2 Blythswood Court, Kew $1,940,000
5. 40 Maitland Street, Glen Iris $1,700,000

TOP 5 BARGAIN HOUSES
1. 4 Manna Court, Frankston North $246,000
2. 3 Eldridge Place, Belmont $267,000
3. 9 Tennent Street, Dromana $322,500
4. 55 Breens Road, Cranbourne West $344,500
5. 114 Clarence Street, Geelong West $352,000

Flat/Apartment Sales in Detail

TOP 5 APARTMENTS
1. 4/18 Burwood Road, Hawthorn $1,320,000
2. 54A Buckingham Street, Richmond $1,105,000
3. 12/287 Bank Street, South Melbourne $1,100,000
4. 1/16 Rose Street, Sandringham $841,500
5. 2/27 Ruskin Street, Elwood $821,000

TOP 5 BARGAIN APARTMENTS
1. 2/21 Overton Road, Seaford $211,000
2. 1/89 Ballantyne Street, Thornbury $277,000
3. 6/32 Ormond Street, Mordialloc $278,000
4. 5/85 Station Road, Glenroy $310,000
5. 1/11 Falkiner Crescent, Dandenong $325,000