With around 2700 auctions expected over the next three weekends conditions shifted slightly in favour of buyers again today with a clearance rate of 61 per cent reached, down from last weekend’s 63 per cent.

There was a total of 777 auctions reported this weekend of which a total 474 sold and 303 were passed in, 197 of those on a vendors bid.

Further results will be reported tomorrow.

The result contrasts to this weekend last year when there was 1073 auctions and a clearance rate of 85 per cent.

Enzo Raimondo
CEO REIV 

TOTAL AUCTIONS

This week: 777
Last Weekend: 918
This weekend last year: 1012

S Sold at Auction: 400
SB Sold before Auction: 68
SA Sold after Auction: 6

Passed in: 303
Passed in on vendor's bid: 197

Clearance rate: 61%

Postponed: 3
Withdrawn: 4
Auctions with no result: 113

PS Private Sales: 618

Total Volume (Auctions): $343.03mil
Total Volume (Private Sales): $306.39mil

Total Auctions Houses: 512
Clearance Rate: 62%
Median Price: $745,000
Total Value: $260,445,905

Total Auctions Flats/Apartments: 254
Clearance Rate: 59%
Median Price: $489,000
Total Value: $78,344,330

Total Auctions Vacant Land: 11
Clearance Rate: 73%
Median Price: $509,000
Total Value: $4,244,000

House Sales in Detail
 

TOP 5 HOUSES
1. 26 Chaucer Crescent, Canterbury $2,640,000
2. 61 Abbott Street, Sandringham $2,025,000
3. 54 Electra Street, Williamstown $1,950,000
4. 5 Claremont Crescent, Canterbury $1,860,000
5. 6 Munro Street, Brighton $1,830,000

TOP 5 BARGAIN HOUSES
1. 73 Highbury Road, Tootgarook $322,500
2. 60 Calendula Circuit, Epping $332,500
3. 310 Findon Road, Epping $333,000
4. 164 Forest Road, Ferntree Gully $337,500
5. 9 Beaconsfield-Emerald Road, Emerald $348,000
 

Flat/Apartment Sales in Detail

TOP 5 APARTMENTS
1. 2 Bruce Street, Beaumaris $1,331,000
2. 4/32-34 Kerr Street, Fitzroy $1,100,000
3. 48A Rosedale Road, Glen Iris $900,000
4. 56 Clifton Street, Balwyn North $860,000
5. 1/130 Nepean Highway, Aspendale $835,000

TOP 5 BARGAIN APARTMENTS
1. 109/903 Dandenong Road, Malvern East $133,000
2. 15/55 Clow Street, Dandenong $202,000
3. 2/38 Spring Street, Thomastown $228,000
4. 18/44 Kneen Street, Fitzroy North $230,000
5. 610/100 Exhibition Street, Melbourne $250,000

SOURCE: REIV

Auctioneer John Bongiorno takes bids for 1/2 Jolmont Terrace, East Melbourne, on Saturday. Photo: Pat Scala

From a city wide perspective the Melbourne residential auction market is very consistent right now with each weekend looking like the last.

This weekend the clearance rate is 66 per cent and over the last 4 weekends it has been between 63 and 67 per cent.

There was a total of 881 auctions reported of which 579 sold, 302 were passed in, 191 of those on a vendors bid.

On this weekend last year there were 889 auctions and a clearance rate of 87 per cent.

The REIV is expecting over 800 auctions on each of the next three weekends, continuing this weekends solid number of listings.

Enzo Raimondo
CEO REIV

TOTAL AUCTIONS

This week: 881
Last Weekend: 249
This weekend last year: 889

S Sold at Auction: 467
SB Sold before Auction: 107
SA Sold after Auction: 5

Passed in: 302
Passed in on vendor's bid: 191

Clearance rate: 66%

Postponed: 8
Withdrawn: 6
Auctions with no result: 100

PS Private Sales: 558

Total Volume (Auctions): $449.14mil
Total Volume (Private Sales): $279.89mil

Total Auctions Houses: 550
Clearance Rate: 66%
Median Price: $780,000
Total Value: $324,783,438

Total Auctions Flats/Apartments: 312
Clearance Rate: 68%
Median Price: $520,500
Total Value: $119,831,138

Total Auctions Vacant Land: 19
Clearance Rate: 37%
Median Price: $390,000
Total Value: $4,530,000

House Sales in Detail
 

TOP 5 HOUSES
1. 15 Victor Avenue, Kew $4,100,000
2. 3 Merrion Place, Kew $2,810,000
3. 57 Devon Street, Eaglemont $2,530,000
4. 123 Riversdale Road, Hawthorn $2,515,000
5. 737 Orrong Road, Toorak $2,510,000

TOP 5 BARGAIN HOUSES
1. 16 Harbour Way, Blind Bight $280,000
2. 64 Bardsley Street, Sunshine West $318,000
3. 31 Walsh Street, Broadmeadows $320,000
4. 31 Tarene Street, Dandenong South $321,000
5. 42 Margate Avenue, Frankston $330,000

Flat/Apartment Sales in Detail

TOP 5 APARTMENTS
1. 2 Davis Avenue, Camberwell $1,711,000
2. 2/29 Lewisham Road, Windsor $1,290,000
3. 1/20 Findon Street, Hawthorn $1,285,000
4. 604/216 Rouse Street, Port Melbourne $1,225,000
5. 2/32-34 Kerr Street, Fitzroy $1,150,000

TOP 5 BARGAIN APARTMENTS
1. 11/33 Rae Street, Fitzroy North $190,500
2. 2/50 Elonera Road, Noble Park North $280,000
3. 12/88 Victoria Street, Williamstown $285,000
4. 1/72 Dover Street, Flemington $285,000
5. 7/280 Cardigan Street, Carlton $286,500

SOURCE: REIV

19 Hamilton Road Malvern SOLD at auction $4,357,000 by Marshall White & Co

From a city wide perspective the Melbourne residential auction market is very consistent right now with each weekend looking like the last.

This weekend the clearance rate is 67 per cent and over the last 4 weekends it has been between 63 and 67 per cent.

There was a total of 816 auctions reported of which 546 sold, 270 were passed in, 170 of those on a vendors bid.

On this weekend last year there were 889 auctions and a clearance rate of 87 per cent.

The REIV is expecting over 800 auctions on each of the next three weekends, continuing this weekends solid number of listings.

Enzo Raimondo
CEO REIV

TOTAL AUCTIONS

This week: 816
Last Weekend: 244
This weekend last year: 848

S Sold at Auction: 437
SB Sold before Auction: 105
SA Sold after Auction: 4

Passed in: 270
Passed in on vendor's bid: 170

Clearance rate: 67%

Postponed: 2
Withdrawn: 1
Auctions with no result: 128

PS Private Sales: 565

Total Volume (Auctions): $421.07mil
Total Volume (Private Sales): $282.91mil

Total Auctions Houses: 508
Clearance Rate: 67%
Median Price: $770,000
Total Value: $302,621,938

Total Auctions Flats/Apartments: 293
Clearance Rate: 69%
Median Price: $525,250
Total Value: $114,217,138

Total Auctions Vacant Land: 15
Clearance Rate: 40%
Median Price: $515,000
Total Value: $4,227,500

House Sales in Detail
 

TOP 5 HOUSES
1. 15 Victor Avenue, Kew $4,100,000
2. 3 Merrion Place, Kew $2,810,000
3. 57 Devon Street, Eaglemont $2,530,000
4. 123 Riversdale Road, Hawthorn $2,515,000
5. 737 Orrong Road, Toorak $2,510,000

TOP 5 BARGAIN HOUSES
1. 64 Bardsley Street, Sunshine West $318,000
2. 31 Walsh Street, Broadmeadows $320,000
3. 31 Tarene Street, Dandenong South $321,000
4. 42 Margate Avenue, Frankston $330,000
5. 21 Millewa Crescent, Dallas $338,000

Flat/Apartment Sales in Detail

TOP 5 APARTMENTS
1. 2 Davis Avenue, Camberwell $1,711,000
2. 2/29 Lewisham Road, Windsor $1,290,000
3. 1/20 Findon Street, Hawthorn $1,285,000
4. 604/216 Rouse Street, Port Melbourne $1,225,000
5. 2/32-34 Kerr Street, Fitzroy $1,150,000

TOP 5 BARGAIN APARTMENTS
1. 11/33 Rae Street, Fitzroy North $190,500
2. 2/50 Elonera Road, Noble Park North $280,000
3. 12/88 Victoria Street, Williamstown $285,000
4. 1/72 Dover Street, Flemington $285,000
5. 7/280 Cardigan Street, Carlton $286,500

SOURCE: REIV

1026 Malvern Road Armadale AUCTION Sat 19 Mar 2011 at 11:30 AM Marshall White & Co

As is normally the case on a long weekend there has been a lower number of auctions.

There were a total of 218 auctions held of which a total 148 sold resulting in a clearance rate of 68 per cent.

There were 70 homes passed in of which 45 were on a vendors bid.

Next weekend volumes return to a high number with around 950 auctions expected followed by 940 the weekend after.

Listings are expected to remain high till  Easter in late April.

Enzo Raimondo
CEO REIV

TOTAL AUCTIONS

This week: 218
Last Weekend: 928
This weekend last year: 717

S Sold at Auction: 110
SB Sold before Auction: 36
SA Sold after Auction: 2

Passed in: 70
Passed in on vendor's bid: 45

Clearance rate: 68%

Postponed: 2
Withdrawn: 1
Auctions with no result: 55

PS Private Sales: 552

Total Volume (Auctions): $99.86mil
Total Volume (Private Sales): $268.17mil

Total Auctions Houses: 159
Clearance Rate: 69%
Median Price: $600,000
Total Value: $78,135,330

Total Auctions Flats/Apartments: 55
Clearance Rate: 65%
Median Price: $495,000
Total Value: $20,556,000

Total Auctions Vacant Land: 4
Clearance Rate: 75%
Median Price: $315,000
Total Value: $1,167,000

House Sales in Detail
 

TOP 5 HOUSES
1. 25 Ocean View Avenue, Red Hill South $2,250,000
2. 30 Westgarth Street, Malvern East $1,770,000
3. 54 Carpenter Street, Brighton $1,472,000
4. 35 Merton Street, Camberwell $1,358,000
5. 15-17 Regent Street, Prahran $1,327,000

TOP 5 BARGAIN HOUSES
1. 9 Devon Place, Melton West $243,000
2. 2 Maltravers Crescent, Cranbourne $325,000
3. 178 Dallas Drive, Broadmeadows $328,000
4. 3 Cooper Street, Broadmeadows $341,000
5. 43 Salween Crescent, Roxburgh Park $360,000

Flat/Apartment Sales in Detail

TOP 5 APARTMENTS
1. 3/52 Virginia Street, Mount Waverley $800,000
2. 25/489 St Kilda Road, Melbourne $640,000
3. 2/1-3 Canning Street, Brunswick East $636,000
4. 2/189 Melville Road, Brunswick West $630,000
5. 29A Woiwurung Crescent, Coburg $625,000

TOP 5 BARGAIN APARTMENTS
1. 1/6 Winston Street, Lalor $320,000
2. 10/95 Raleigh Street, Thornbury $351,000
3. 1/13 Mirbelia Crescent, Mill Park $351,000
4. 1/24 Scott Street, Elwood $355,000
5. 2/35 Rosstown Road, Carnegie $362,500

SOURCE: REIV

Stunning Melbourne City view from The Guilfoyle: 35-47 Coventry Street, South Melbourne

There were a total of 214 auctions held of which a total 146 sold resulting in a clearance rate of 68 per cent.

There were 68 homes passed in of which 44 were on a vendors bid.

Next weekend volumes return to a high number with around 950 auctions expected followed by 940 the weekend after.

Listings are expected to remain high till  Easter in late April.

Enzo Raimondo
CEO REIV

TOTAL AUCTIONS

This week: 214
Last Weekend: 882
This weekend last year: 681

S Sold at Auction: 108
SB Sold before Auction: 36
SA Sold after Auction: 2

Passed in: 68
Passed in on vendor's bid: 44

Clearance rate: 68%

Postponed: 2
Withdrawn: 1
Auctions with no result: 53

PS Private Sales: 554

Total Volume (Auctions): $96.81mil
Total Volume (Private Sales): $269.12mil

Total Auctions Houses: 156
Clearance Rate: 69%
Median Price: $595,000
Total Value: $75,090,830

Total Auctions Flats/Apartments: 54
Clearance Rate: 67%
Median Price: $495,000
Total Value: $20,556,000

Total Auctions Vacant Land: 4
Clearance Rate: 75%
Median Price: $315,000
Total Value: $1,167,000

House Sales in Detail
 

TOP 5 HOUSES
1. 30 Westgarth Street, Malvern East $1,770,000
2. 54 Carpenter Street, Brighton $1,472,000
3. 35 Merton Street, Camberwell $1,358,000
4. 15-17 Regent Street, Prahran $1,327,000
5. 4 Gisborne Street, Elsternwick $1,310,000

TOP 5 BARGAIN HOUSES
1. 9 Devon Place, Melton West $243,000
2. 2 Maltravers Crescent, Cranbourne $325,000
3. 178 Dallas Drive, Broadmeadows $328,000
4. 3 Cooper Street, Broadmeadows $341,000
5. 43 Salween Crescent, Roxburgh Park $360,000

Flat/Apartment Sales in Detail

TOP 5 APARTMENTS
1. 3/52 Virginia Street, Mount Waverley $800,000
2. 25/489 St Kilda Road, Melbourne $640,000
3. 2/1-3 Canning Street, Brunswick East $636,000
4. 2/189 Melville Road, Brunswick West $630,000
5. 29A Woiwurung Crescent, Coburg $625,000

TOP 5 BARGAIN APARTMENTS
1. 1/6 Winston Street, Lalor $320,000
2. 10/95 Raleigh Street, Thornbury $351,000
3. 1/13 Mirbelia Crescent, Mill Park $351,000
4. 1/24 Scott Street, Elwood $355,000
5. 2/35 Rosstown Road, Carnegie $362,500

SOURCE: REIV

The ever-entertaining saga of Charlie Sheen has continued this week with reports of him buying a house in the Mulholland Estates community for nearly $7.5 million.

Although there is no mention if the house is for the actor himself, Sheen has made no secret of wanting to purchase nearby properties for his ex-wife, Denise Richards, and soon to be ex-wife, Brooke Mueller.

The recently renovated house is situated on a 9,000 square-foot lot within a gated community. The Mediterranean-style residence includes six bedrooms, nine bathrooms, double height entry foyer, library, gourmet kitchen with butler's pantry, elevator, formal and informal living areas, swimming pool, outdoor bar and kitchen, and views of the city and surrounding mountains.

Sheen bought the home from Mike Medavoy, chief executive of Phoenix Pictures and producer of films ‘Black Swan’, ‘Shutter Island’, and ‘All the Kings Men’.

SOURCE: thehomepage.com.au

This weekend looks like a carbon copy of last with a total of 534 homes from the 806 auctions selling resulting in a clearance rate of 66 per cent compared to last weekends 65 per cent.

Of the 272 homes passed in 154 of those were passed in on a vendors bid. Despite a third of homes not selling at auction many real estate agents reported strong sales returning sale prices well above reserve.

This weekend last year saw 252 auctions and a clearance rate of 88 per cent, the low volume a result of Labour Day, conditions that will be repeated next weekend.

After next weekends low number of auctions volumes will rise sharply.

Enzo Raimondo
CEO REIV

TOTAL AUCTIONS

This week: 806
Last Weekend: 939
This weekend last year: 244

S Sold at Auction: 457
SB Sold before Auction: 76
SA Sold after Auction: 1

Passed in: 272
Passed in on vendor's bid: 154

Clearance rate: 66%

Postponed: 12
Withdrawn: 8
Auctions with no result: 126

PS Private Sales: 597

Total Volume (Auctions): $413.71mil
Total Volume (Private Sales): $302.72mil

Total Auctions Houses: 532
Clearance Rate: 67%
Median Price: $739,000
Total Value: $313,262,371

Total Auctions Flats/Apartments: 263
Clearance Rate: 64%
Median Price: $524,000
Total Value: $95,235,600

Total Auctions Vacant Land: 11
Clearance Rate: 82%
Median Price: $490,000
Total Value: $5,215,000

House Sales in Detail
 

TOP 5 HOUSES
1. 19 Hamilton Road, Malvern $4,357,000
2. 127 Finch Street, Glen Iris $3,300,000
3. 11 William Street, Brighton $3,100,000
4. 5 Gaynor Court, Malvern $2,743,000
5. 34 Airlie Avenue, Prahran East $2,505,000

TOP 5 BARGAIN HOUSES
1. 4 Leonid Drive, Rockbank $219,000
2. 4 Yaralla Court, Meadow Heights $271,000
3. 15 Wattle Street, Doveton $287,500
4. 38 Ventnor Crescent, Coolaroo $305,000

Flat/Apartment Sales in Detail

TOP 5 APARTMENTS
1. 301/59 Stawell Street, Richmond $2,051,000
2. 2A Hillcrest Avenue, Brighton $1,210,000
3. 2/9 Yerrin Street, Balwyn $1,200,000
4. 901/8 Breavington Way, Northcote $1,170,000
5. 2/56 The Esplanade, Brighton $1,105,000

TOP 5 BARGAIN APARTMENTS
1. 3/30 Geach Street, Dallas $246,000
2. 4/67 Mount View Parade, Croydon $268,500
3. 3/49 Austral Avenue, Preston $275,000
4. 18/12 Venice Street, Mentone $290,000
5. 1/30 Moodemere Street, Noble Park $300,500

SOURCE: REIV

1/2 Jolimont Terrace EAST MELBOURNE SOLD by Marshall White at Auction for: $1,745,000

This weekend there has been a total of 890 auctions reported with a clearance rate of 66 per cent. Of the 890 auctions reported a total of 590 sold and 300 were passed in, 197 of those on a vendors bid.

The contrast with this last year at this point is interesting and helps to explain the current state of the residential auction market.

This weekend last year saw a clearance rate of 87 per cent. With a similar number of auctions the main difference is that last year interest rates were much lower as were overall prices, highlighting the impact of reduced affordability on the market.

Next weekend the REIV is expecting a similar number of auctions as this weekend before listings are reduced due to the Labour Day long weekend.

Enzo Raimondo
CEO REIV

TOTAL AUCTIONS

This week: 890
Last Weekend: 723
This weekend last year: 979

S Sold at Auction: 470
SB Sold before Auction: 119
SA Sold after Auction: 1

Passed in: 300
Passed in on vendor's bid: 197

Clearance rate: 66%

Postponed:11
Withdrawn: 10
Auctions with no result: 132

PS Private Sales: 594

Total Volume (Auctions): $484.11mil
Total Volume (Private Sales): $296.9mil

Total Auctions Houses: 555
Clearance Rate: 64%
Median Price: $808,000
Total Value: $347,910,550

Total Auctions Flats/Apartments: 318
Clearance Rate: 69%
Median Price: $540,000
Total Value: $132,036,500

Total Auctions Vacant Land: 17
Clearance Rate: 82%
Median Price: $205,500
Total Value: $4,161,000

House Sales in Detail
 

TOP 5 HOUSES
1. 33 Middle Crescent, Brighton $4,300,000
2. 46 Illawarra Road, Hawthorn $4,250,000
3. 35 Mason Street, Hawthorn $3,450,000
4. 118 Finch Street, Malvern East $3,150,000
5. 4 Madden Grove, Kew $3,050,000

TOP 5 BARGAIN HOUSES
1. 5 Nyora Court, Westmeadows $300,000
2. 17 Menzies Close, Narre Warren South $337,000
3. 21 Holmes Road, Mooroolbark $343,000
4. 72 Wright Street, Sunshine $350,000
5. 9 Boort Street, Dallas $356,000

Flat/Apartment Sales in Detail

TOP 5 APARTMENTS
1. 3/408 Toorak Road, Toorak $1,850,000
2. 1/2 Jolimont Terrace, East Melbourne $1,745,000
3. 1/48 Hatfield Street, Balwyn North $1,402,000
4. 1/6 Stanley Street, Brighton $1,325,000
5. 7/42 Gellibrand Street, Queenscliff $1,221,000

TOP 5 BARGAIN APARTMENTS
1. 18/50 Middle Road, Maribyrnong $215,000
2. 13/35 Herbert Street, Dandenong $244,000
3. 8/29 Schutt Street, Newport $260,500
4. 2/10 Carmichael Street, West Footscray $280,000
5. 4/19 Beaumont Parade, West Footscray $300,000

SOURCE: REIV