Strongest Melbourne Saturday auction rally since 2010 - consistently nudging 80%

Strongest Melbourne Saturday auction rally since 2010 - consistently nudging 80%
Jonathan ChancellorDecember 7, 2020

Melbourne's strengthening auction market is now consistently nudging 80%, the strongest rally for five years.

The REIV advised a 79% success rate on the April 18 weekend, matching the 79% pre-Easter weekend clearance rate.

It compared to 75 per cent last weekend, Enzo Raimondo, the REIV chief advised, having had an initial 78% advisory.

The year-to-date Victoria wide clearance rate sits at around 77%.

Melbourne's auctions finished 2014 and started 2015 in the 60s, so has enjoyed the biggest fillip of the capital city markets since the February RBA are cut.

It was noted recently by the Westpac senior economist Matthew Hassan.

There were 1060 auctions reported to the REIV with the highest sale (below) in Surrey Hills.

The four bedroom Edwardian era home on 1089 square metres was sold by Tim Heavyside at Fletchers.

There were pricier offerings that failed to sell including the contemporary 4 First Point, Port Melbourne (below) townhouse which was passed in at $5.25 million.

4 First Point, Port Melbourne

Also the bungalow at 8 Normandy Road, Elwood was passed in at $3.55 million and a contemporary house in Leigh Bailey gardens at 50 Wentworth Avenue, Canterbury was passed in at $3.5 million.

There was an $813,000 median house price and a $590,000 median apartment price at weekend auction.

TOP 5 HOUSES

1. 44 Suffolk Road, Surrey Hills $3,370,000
2. 15 Kildare Street, Hawthorn East $2,800,000
3. 37 Medina Road, Glen Waverley $2,486,000
4. 63 Rushall Crescent, Fitzroy North $2,250,000
5. 3 Westfield Drive, Doncaster $2,225,000

TOP 5 BARGAIN HOUSES

1. 8/29 Eldridge Street, Footscray $263,000
2. 5/14 Kelvinside Road, Noble Park $268,000
3. 76 Macedon Street, Sunbury $270,000
4. 15 Kynoch Street, Deer Park $300,000
5. 21 Highbury Circuit, Craigieburn $307,000

TOP 5 APARTMENTS

1. 400 Beach Road, Beaumaris $2,830,000
2. 4/32 Walmer Street, Kew $1,890,000
3. 157 Were Street, Brighton $1,525,000
4. 9 Fourth Street, Black Rock $1,513,000
5. 1/3 Rangeview Grove, Balwyn North $1,510,000

TOP 5 BARGAIN APARTMENTS

1. 25/31 Smith Street, St Kilda $143,000
2. 7/10 Heather Avenue, Brooklyn $245,000
3. 14/441 Brunswick Road, Brunswick West $258,000
4. 11/158 Napier Street, Essendon $280,000
5. 23/470 Punt Road, South Yarra $280,000

 

Source REIV 

 

 

 

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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