Auction success higher for houses than apartments: REIV

Auction success higher for houses than apartments: REIV
Auction success higher for houses than apartments: REIV

The REIV reported Melbourne's clearance rate as 77% - steady with the 77% last weekend and higher than 69% the same weekend last year.

There were 507 auctions reported to the REIV this weekend, with the number of auctions increasing over the next fortnight to 750 auctions in each of the next two weekends, Enzo Raimondo, the REIV chief advised.

The REIV was expecting about 630 auctions in 225 suburbs on the weekend. The top auction locations were Richmond (13 auctions), Reservoir (11 auctions) and St Kilda (10 auctions).

Houses were again stronger than units.

Total Auctions Houses: 315

Clearance Rate: 82%

Median Price: $700,000

Total Value: $193,501,280

Total Auctions Flats/Apartments: 176

Clearance Rate: 72%

Median Price: $580,000

Total Value: $74,453,100

Source REIV 

Weekend reported prices ranged from $235,000 at Kingsville to $2,051,000 at Balwyn North.

TOP 5 HOUSES 
1. 20 Carrington Street, Balwyn North $2,051,000
2. 24 Kawarren Street, Balwyn North $1,815,000
3. 21 Fraser Street, Glen Waverley $1,680,000
4. 77 Heath Street, Port Melbourne $1,640,000
5. 15 Afton Street, Aberfeldie $1,600,000

TOP 5 BARGAIN HOUSES
1. 12 Odessa Court, Werribee $288,000
2. 60 Meadow Glen Drive, Epping $365,000
3. 24 Peppercorn Parade, Epping $371,500
4. 54 Woods Street, Beaconsfield $375,000
5. 16 Helpmann Crescent, Epping $376,000


TOP 5 APARTMENTS 
1. 20 Anderson Street, South Melbourne $1,675,000
2. 10/6 Wellington Crescent, East Melbourne $1,380,000
3. 2 Toronto Avenue, Doncaster $1,288,000
4. 15 Parkers Road, Parkdale $1,181,000
5. 9 Norma Barnett Lane, Port Melbourne $1,180,000

TOP 5 BARGAIN APARTMENTS
1. 4/73 Kingsville Street, Kingsville $235,000
2. 3/81 Hammond Road, Dandenong $289,000
3. 12/35 Glen Huntly Road, Elwood $290,000
4. 6/25A Arthur Street, Coburg North $302,500
5. 2/24 Highland Street, Kingsbury $307,500

 

There were close to 8,100 auction sales in the three months to June 2015 compared to 7,600 for the same period last year. 

The middle ring suburbs to the south east of Melbourne recorded the highest number of auction sales - 1,218 sales from 1,408 auctions held. 

This was followed by suburbs in Melbourne’s inner and middle north regions with 950 and 760 auction sales respectively.

Jonathan Chancellor

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.

Tags: 
Auction Victoria

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