This weekend there were 577 auctions held, 356 of which sold and 221 were passed in. Whilst the rate cut has bolstered confidence, there is a significant amount of concern about the state of the nation’s economy, resulting in a clearance rate in line with this year’s average. The true impact of the stock market troubles will not be clear for a few weeks. Next week we expect 625 auctions, followed by over 1000 auctions the weekend after.
TOTAL AUCTIONS
This week: 577
Last weekend: 462
This time last year: 803
S Sold at Auction: 268
SB Sold before Auction: 81
SA Sold after Auction: 7
Passed in: 221
Passed in on vendor’s bid: 138
Clearance rate: 63%
Postponed: 1
Withdrawn: 1
Auctions with no result: 61
PS Private Sales: 571
Total Volume (Auctions): $192.81mil
Total Volume (Private Sales): $217.43mil
Total Auctions Houses: 373
Clearance Rate: 57%
Median Price: $575,000
Total Auctions Flats/Apartments: 192
Clearance Rate: 72%
Median Price: $410,000
Total Auctions Vacant Land: 12
Clearance Rate: 33%
Median Price: $375,000
House Sales in Detail
TOP 5 HOUSES
1. 9 Alfred Street, Kew $2,510,000
2. 4 Bryson Avenue, Brighton $1,856,000
3. 37 Codrington Street, Sandringham $1,550,000
4. 28 Charnwood Road, St Kilda $1,450,000
5. 49 Gordon Street, Balwyn $1,350,000
TOP 5 BARGAIN HOUSES
1. 9 Dalton Street, Sunshine West $213,000
2. 16 Tremaine Court, Carrum Downs $215,500
3. 10 Banksia Street, Doveton $232,500
4. 39 Trafalgar Street, St Albans $235,000
5. 92 Silverchair Avenue, Delahey $235,000
Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 2/324 Glenferrie Road, Malvern $1,102,500
2. 70B Milton Parade, Malvern $1,025,000
3. 23 Australis Circuit, Port Melbourne $910,000
4. 3/27 Foam Street, Elwood $762,000
5. 2A Colin Street, Essendon West $750,000
TOP 5 BARGAIN APARTMENTS
1. 7/132 Rupert Street, Footscray West $150,000
2. 3/9 Perth Street, Murrumbeena $225,000
3. 6/40 Yarralea Street, Alphington $227,500
4. 11/14 Stevedore Street, Williamstown $228,000
5. 3/1051 Pascoe Vale Road, Broadmeadows $230,000
Information Provided by The Real Estate Institute of Victoria
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