Market Results – Saturday 16th March & Sunday 17th March 2013

A clearance rate of 69 per cent was recorded this weekend compared to 61 per cent last weekend and 58 per cent this weekend last year.

There were 804 auctions reported to the REIV this weekend, with 557 selling and 247 being passed in, 134 of those on a vendor bid.

This year there has been an increase in the overall value of residential sales at auction with $1.8B worth of homes having sold compared to $1.5B this time last year. The value of private sales is also estimated to have risen from $3.9B to $4.5B.

Next weekend the REIV expects around 1,210 auctions and this is likely to be the 5th biggest weekend on record.

RESIDENTIAL

S Sold at Auction: 450
SB Sold before Auction: 107
SA Sold after Auction: 0

Passed in: 247
Passed in on vendor's bid: 134

Clearance rate: 69%

TOTAL AUCTIONS
This week: 804
Yesterday: 27
Last Sunday: 3
This weekend last month: 475
This weekend last year: 189

CLEARANCE RATES:
Weekend: 69%
Yesterday: 67%
Last Sunday: 0%
This weekend last month: 71%
This weekend last year: 58%

Postponed: 5
Withdrawn: 5
Auctions with no result: 46

PS Private Sales: 531

Total Volume (Auctions): $422.32mil
Total Volume (Private Sales): $267.63mil

Total Auctions Houses: 518
Clearance Rate: 69%
Median Price: $710,000
Total Value: $306,676,131

Total Auctions Flats/Apartments: 274
Clearance Rate: 70%
Median Price: $534,500
Total Value: $111,222,600

Total Auctions Vacant Land: 12
Clearance Rate: 83%
Median Price: $400,000
Total Value: $4,426,000

TOP 5 HOUSES
1. 24 Bay Street, Brighton $4,850,000
2. 11 Wellesley Road, Hawthorn $2,450,000
3. 57 Tennyson Street, Elwood $2,281,000
4. 27 Kireep Road, Balwyn $2,200,000
5. 24 Doonkuna Avenue, Camberwell $1,945,000

TOP 5 BARGAIN HOUSES
1. 10 Tania Court, Pakenham $156,000
2. 11 Leggatt Street, Melton South $170,000
3. 13 Donald Street, Dallas $284,000
4. 3 Exeter Court, Heidelberg West $307,000
5. 145 Mill Park Drive, Mill Park $310,000

TOP 5 APARTMENTS
1. 21 Peace Street, Glen Iris $1,800,000
2. 6/117 Rouse Street, Port Melbourne $1,650,000
3. 1201/1 Clara Street, South Yarra $1,240,000
4. 1C Woodville Avenue, Glen Huntly $1,220,000
5. 25/153-163 Hawthorn Road, Caulfield North $1,187,500

TOP 5 BARGAIN APARTMENTS
1. 1/25 Cranbourne Road, Frankston $168,000
2. 14/38 Woornack Road, Carnegie $233,000
3. 2/3 Childers Street, Mentone $262,500
4. 4/3 Childers Street, Mentone $262,500
5. 7/55 Buckley Street, Noble Park $271,000

 

By: Enzo Raimondo CEO REIV

Source: REIV