Loss making at Melton amid Melbourne's wavering auctions: REIV
A Melton home - the weekend's cheapest sale - reflected a loss for the vendor over their six year ownership.
It fetched $247,000 having sold in 2009 at $275,000.
The three bedroom (below) 1990-built home sits on a 680 square metre holding offered through Barry Plant Real Estate.
Melton's median house price has been in decline for around four years to its current $240,000 level.
Melbourne's initial clearance rate sat at 76 per cent this weekend compared to 74 per cent last weekend. The initial clearance rate had been put at 77% last weekend.
It was 70 per cent this weekend last year.
There were 597 auctions reported so far this weekend to the REIV ranging from $180,000 to $3.35 million, for a Camberwell townhouse development site that sold post-auction.
TOP 5 HOUSES
1. 15 Glencairn Avenue, Camberwell $3,350,000
2. 27 Laburnum Street, Brighton $3,250,000
3. 11 Livingstone Street, Ivanhoe $2,855,000
4. 8 Baily Street, Mount Waverley $2,790,000
5. 29 Fisher Parade, Ascot Vale $2,550,000
TOP 5 BARGAIN HOUSES
1. 48 Centenary Avenue, Melton $247,000
2. 16 Bootie Court, Roxburgh Park $330,000
3. 33 Heatherhill Road, Frankston $345,500
4. 47 Ash Street, Doveton $350,000
5. 29 Hurlingham Way, Craigieburn $356,000
TOP 5 APARTMENTS
1. Lot 1/14 Victoria Crescent, Mont Albert $2,165,000
2. 6.1/193 Domain Road, South Yarra $1,750,000
3. 2/31 Kennealy Street, Surrey Hills $1,210,000
4. 17 Sandford Street, Highett $1,160,000
5. 61A Woornack Road, Carnegie $1,150,000
TOP 5 BARGAIN APARTMENTS
1. 45/92 Grey Street, St Kilda $180,000
2. 19/181 Geelong Road, Seddon $218,500
3. 12/6 Garnet Street, Brunswick $225,000
4. 24/15 Acland Street, St Kilda $230,000
5. 7/352 Koornang Road, Carnegie $275,000
SOURCE REIV
Enzo Raimondo, the REIV chief reported auction proceeds totalled $365 million.
The clearance rate for houses was 81% with a median price of $838,500 with apartments' clearance rate at 70% and a $597,000 median price.