Sunday 24 May 2009
The auction clearance rate has now surpassed 80 per cent for two weeks, a result that surpasses all expectations for the Melbourne residential property market. The new found confidence will be tested once more next week when we expect to see just under 700 auctions.
There were 475 auctions reported this weekend of which 89 were passed in, 65 of those on a vendors bid, resulting in a clearance rate of 81 per cent.
The private sale market continues to be strong with 700 homes reported sold this week.
TOTAL AUCTIONS
This week: 475
Last weekend: 451
This time last year: 582
S Sold at Auction: 313
SB Sold before Auction: 66
SA Sold after Auction: 7
Passed in: 89
Passed in on vendor’s bid: 65
Clearance rate: 81%
Withdrawn: 1
Auctions with no result: 32
Total Volume (Private Sales): $302.47mil
Clearance Rate: 82%
Median Price: $592,000
Clearance Rate: 80%
Median Price: $445,000
Clearance Rate: 75%
Median Price: $365,000
TOP 5 HOUSES
1. 4 North Street, Richmond $1,870,000
2. 42 Grosvenor Parade, Balwyn $1,838,000
3. 39 Whyte Street, Brighton $1,710,000
4. 243 Coppin Street, Richmond $1,670,000
5. 64 McMullen Road, Officer $1,490,000
TOP 5 BARGAIN HOUSES
1. 27 Highview Parade, Hamlyn Heights $261,000
2. 70 Bladin Street, Laverton $285,000
3. 26 Boston Road, Lalor $285,500
4. 201 McDonalds Road, Epping $290,000
5. 9 Panorama Drive, Tootgarook $290,000
TOP 5 APARTMENTS
1. 3 Tovell Street, Brighton $1,430,000
2. 108 Dendy Street, Brighton $1,150,000
3. 7/31 York Street, Richmond $940,000
4. 10/47 Mary Street, Richmond $930,000
5. 12A Brickwood Street, Brighton $930,000
TOP 5 BARGAIN APARTMENTS
1. 3/229 Westgarth Street, Northcote $201,500
2. 9/696 Plenty Road, Reservoir $211,500
3. 6/72 Dundas Street, Thornbury $224,000
4. 15/5 Gnarwyn Road, Carnegie $225,750
5. 3/7 Bute Street, Murrumbeena $245,000
If interested in learning more about this update please contact me today!
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