Melbourne's busiest auction day sees steady success rate: REIV

Melbourne's busiest auction day sees steady success rate: REIV
Melbourne's busiest auction day sees steady success rate: REIV

Melbourne agents secured a weekend clearance rate of 67%, compared to 65% last week and 65% on the same weekend last year.

Melbourne buyers met the supply challenge of the biggest auction day in its history.

Balanced rather than strong was how vendor adviser, Peter Sarmas described the result.

There were 1467 auctions reported to the REIV this weekend, with another 400 results yet to come. 

It has been a record month, with about 5,700 auctions held - 300 more than in November last year, the REIV chief Enzo Raimondo said.

The dearest weekend result reported to the REIV was $3.55 million in Brighton, although a private auction mid-week had secured a $7.4 million sale in Canterbury. 

The Brighton sale was a four bedroom house on the edge of the Golden Mile with the 889sqm, north facing lot offering an opportunity to re-build or redevelop, Brakspear House.

The $3.55 million auction sale was higher than its $3.33 million private treaty sale in June this year to Chinese buyers. Buxton selling agent Stefan Whiting was telling inspectees that the client was re-located overseas by the corporate he worked for.

The offerng at 34 Ferrars Place, South Melbourne was passed in at $4,6 million with just the one bidder.

 

TOP 5 HOUSES

1. 17 Elwood Street, Brighton $3,550,000

2. 167 Finch Street, Glen Iris $2,756,000

3. 31B Park Crescent, ABERFELDIE $2,750,000

4. 11 Belson Street, Malvern East $2,710,000

5. 14 Terry Street, Balwyn $2,700,000

 

TOP 5 BARGAIN HOUSES

1. 309 Stumpy Gully Road, Balnarring $253,000

2. 8 Peter Court, Langwarrin $295,000

3. 32 Lorraine Crescent, Jacana $295,000

4. 11 Cullen Drive, Wyndham Vale $296,000

5. 3 Marong Court, Broadmeadows $308,500

 

TOP 5 APARTMENTS

1. 27A Irymple Avenue, Glen Iris $2,188,000

2. 3.01/125-139 Rathdowne Street, Carlton $2,075,000

3. 65 Draper Street, Albert Park $1,670,000

4. 2/30 Erskine Street, North Melbourne $1,420,000

5. 2/22 Pascoe Avenue, Bentleigh $1,350,000

 

TOP 5 BARGAIN APARTMENTS

1. 2/29 Kirby Street, Reservoir $271,000

2. 2/10 Edgar Street, Hadfield $285,000

3. 1/249 Burnley Street, Richmond $300,000

4. 3/7 Sydney Street, Footscray $307,000

5. 3/7 Adam Street, Richmond $331,000

Source: REIV 

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.

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Melbourne Property market

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