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Melbourne Auction Clearance Rate Rebounds to 65 Per Cent

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Written by REIV Announcement   
Monday, 12 May 2008

The market didn't skip a beat returning a clearance rate of 65 per cent from 633 auctions. The fact interest rates remained stable provided a minor confidence boost on the eve of winter.

S Sold at Auction: 325
SB Sold before Auction: 80
SA Sold after Auction: 9

Passed in: 219
Passed in on vendor's bid: 148

Clearance rate: 65%

 

Postponed: 0
Withdrawn: 0
Auctions with no result: 74

PS Private Sales: 538

Total Volume (Auctions): $255.52mil
Total Volume (Private Sales): $227.48mil

Total Auctions Houses: 446
Clearance Rate: 64%
Median Price: $590,000

Total Auctions Flats/Apartments: 173
Clearance Rate: 66%
Median Price: $410,000

Total Auctions Vacant Land: 13
Clearance Rate: 85%
Median Price: $387,500

House Sales in Detail
TOP 5 HOUSES
1. 46 Hawthorn Grove, Hawthorn $3,395,000
2. 45 Dickens Street, Elwood $3,025,000
3. 34 Foam Street, Elwood $2,350,000
4. 9 Ellesmere Road, Windsor $2,005,000
5. 16 Lorac Avenue, Brighton $2,000,000
TOP 5 BARGAIN HOUSES
1. 190 Hodgins Road, Hastings $205,000
2. 25 Staughton Street, Melton South $217,000
3. 7 Valley Court, Craigieburn $222,500
4. 3 Miram Court, Westmeadows $235,000
5. 10 Valley Court, Craigieburn $243,000

Flat/Apartment Sales in Detail
TOP 5 APARTMENTS
1. 37 Douglas Street, Toorak $1,331,000
2. 305/115 Beach Street, Port Melbourne $1,220,000
3. 2/126 North Road, Brighton $1,210,000
4. 35 Richardson Street, Albert Park $1,150,000
5. 2/59 Kennealy Street, Surrey Hills $1,105,000
TOP 5 BARGAIN APARTMENTS
1. 9/33 King Edward Avenue, Albion $125,000
2. 314/45 Victoria Parade, Collingwood $149,000
3. 2/188 Broadway, Reservoir $180,000
4. 2/462 Station Street, Bonbeach $231,500
5. 15/696 Plenty Road, Reservoir $248,000

TOTAL AUCTIONS
This week: 633
Last weekend: 870
This time last year: 654

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