St Kilda weak as Melbourne weekend auctions secure 70% success rate
Melbourne agents secured a clearance rate of 70% compared to 65% on the Queen's birthday long weekend.
It was 53% on the same weekend last year, according to the Real Estate Institute of Victoria.
It has noted the year to date the residential auction volumes excede the last two years.
The REIV estimates June will have 3,175 auctions.
"The only time this number was exceeded in the past decade was in June 2010," the REIV chief Enzo Raimondo said.
There were 740 auctions reported to the REIV this weekend, with 521 selling and 219 being passed in, 146 of those on a vendor bid.
Next weekend the REIV expects around 750 auctions.
The weekend's busiest auction suburb was St Kilda which had 18 auctions. Of the reported results there were nine sales and seven unsold.
St Kilda East was stronger with five of the six auctions being sold. There was one unsold result in St Kilda West.
Sydney agents secured a 76.9% success rate.
"Sydney records an exceptionally strong auction clearance rate of 76.9 per cent over the first full weekend of winter. Winter market clearly set to reach new highs of buyer activity," Dr Andrew Wilson, the senior economist for Australian Property Monitors said.
APM reported the strongest regional result of the weekend were the Northern beaches 94% (16 auctions); Canterbury-Bankstown 84% (19 auctions) and the upper north shore 82% (38 auctions).
Redfern notched up a record price at $2.58 million bettering the previous record at 702 Bourke Street which sold for $2.25 million in 2011.
The top five Melbourne house sales were:
1. 14 Edward Street, Kew $2,880,000
2. 1 Norman Avenue, South Yarra $2,715,000
3. 148 Kooyong Road, Toorak $2,692,000
4. 136 Powlett Street, East Melbourne $2,505,000
5. 57 Crisp Street, Hampton $2,472,500
The top five Melbourne apartment sales were:
1. 11A Moffat Street, South Yarra $1,745,000
2. 3/17 Talbot Crescent, Kooyong $1,600,000
3. 30 Halstead Street, Caulfield North $1,016,000
4. 5/7 Cromwell Road, South Yarra $950,000
5. 19A Camperdown Street, Brighton East $942,000
Source: REIV
