Weekend auction wrap: Where the hammer fell
It was another humdrum weekend of auctions.
No sparkle this spring. But estate agents will be pleased that the slight increase in volumes has been met with a relatively steady clearance rates.
The weekend auction clearance rate for both Melbourne and Sydney this past weekend. For Sydney, this was just a tick down on the previous weekend's 58%, according to Australian Property Monitors.
Melbourne agents reported a minor improvement with 57% of listings selling, compared with 54% on the previous weekend, according to the Real Estate Institute of Victoria.
Both results were well down on the 69% on the same weekend last year in Melbourne and the 62% in Sydney last September.
The Real Estate Institute of Victoria says so far this year just over 11,500 homes have sold at auction in Victoria. "This is less than 2010, 2008 and 2007 but more than in either 2009 or 2006," REIV chief executive Enzo Raimondo says. The total Melbourne auctions volume from the weekend was $253 million.
The median Melbourne auction sale was $747,000 for houses. It was $537,000 for Melbourne units. There were 11 vacant Melbourne blocks of land selling at a $293,000 median.
There were Melbourne 593 auctions on the weekend, compared with the 616 the previous weekend. There is an increase in the number of auctions next weekend to 740 before a reduction for the AFL grand final weekend.
The REIV says Melbourne's dearest house weekend sales was on Gardiner Road, Hawthorn at $3,580,500. Melbourne cheapest house sales was Hillman Street Laverton at $272,000.
The total Sydney sales volume from the weekend was $170 million. There was an $880,000 median house price from the Sydney sales.
There was a $570,000 median unit price from the Sydney sales. Sydney's dearest sale was a $2.55 million unit on Wharf Road, Birchgrove through Cobden & Hayson. Sydney's cheapest sale was a three-bedroom house at Eagle Vale, which fetched $274,000 through Ray White Campbelltown.
