Moorooduc's time to shine as Melbourne weekend auction success rate slips to 76%: REIV

Moorooduc's time to shine as Melbourne weekend auction success rate slips to 76%: REIV
Moorooduc's time to shine as Melbourne weekend auction success rate slips to 76%: REIV

An auction clearance rate of 76 per cent was recorded this weekend with 479 Melbourne auctions reported to the REIV.

It was down on the 79 per cent success rate recorded on the last weekend in June, and less than the 77 per cent the weekend before.

It was 73 per cent this weekend last year.

There were 864 auctions reported to the REIV last weekend.

The REIV was expecting about 600 auctions in 218 suburbs on the July 4 weekend.

The top auction locations on the weekend were Reservoir and Yarraville with nine auctions in each, followed by Dandenong North with eight auctions.

675 Moorooduc Highway, Moorooduc

With many suburbs heading into winter hibernation, the top sale (above) was a hobby farm at Moorooduc on the Mornington Peninsula. It was a single level 40 square home on the 28 hectares offered through McEwing Partners.

TOP 5 HOUSES

1. 675 Moorooduc Highway, Moorooduc $3,352,000
2. 17 Elmhurst Road, Blackburn $3,010,000
3. 10 Landen Avenue, Balwyn North $2,688,888
4. 9 Malua Street, Ormond $2,618,500
5. 42 Bell Street, Fitzroy $2,385,000

TOP 5 BARGAIN HOUSES

1. 10 Plantation Avenue, Frankston North $270,000
2. 4/41 Leonard Avenue, Noble Park $281,000
3. 2 Benalla Street, Dallas $317,000
4. 32 Warringa Crescent, Hoppers Crossing $350,000
5. 25 Billingham Road, Deer Park $363,500


TOP 5 APARTMENTS

1. 302/2 Pier Street, Port Melbourne $2,525,000
2. 3/15 Parring Road, BALWYN $1,410,000
3. 9B Hillside Avenue, BENTLEIGH $1,320,000
4. 14 Davies Street, Port Melbourne $1,250,000
5. 19A Clements Street, BENTLEIGH East $1,200,000

TOP 5 BARGAIN APARTMENTS

1. 1/62 Victoria Street, Hastings $281,000
2. 6/55 Wellington Street, Flemington $320,000
3. 6/47 Rathcown Road, Reservoir $343,000
4. 1/29 Gladstone Parade, GLENROY $350,000
5. 19/48 Passfield Street, Brunswick West $350,000

Source REIV

A clearance rate of 78 per cent was recorded throughout June 2015, compared to 72 per cent last June.

"This is the highest clearance rate for the month since 2009," REIV chief Enzo Raimondo advised.

There were around 2,300 auction sales in June 2015 compared to 2,100 over the same period last year. 

The suburbs with the highest number of auction sales for the month were Balwyn North (39 sales), Reservoir (38 sales) and Glen Waverley (37 sales).

BALWYN Norh maintained its regular appearance in the REIV top five sale with 10 Landen Avenue, Balwyn North fetching $2,688,888 in is recently notified sale result.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

Tags: 
Auctions Melbourne

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