Melbourne 2011 Auction Market Overview: 1 January – 21 December 2011

The clearance rate for auctions in 2011 was 56 per cent compared to 71 per cent last year, 81 per cent in 2009 and 63 per cent in 2008.

The highest clearance rate in any week was 65 per cent in the week ending 13 March and the lowest was 49 per cent in the week ending 20 November.

As at 19 December there had been 28,807 auctions held in total. The number of auctions exceeds the number held in both 2009 and 2008 but is fewer than 2010, when there were 32,497 residential auctions.

The total value of auction sales was $11.6 billion compared to $16.8b in 2010, $12.1b in 2009 and $10.2b in 2008.

From an individual suburb perspective, the highest clearance rate was recorded in Wantirna South, where 82 per cent of homes sold. It was followed by Abbotsford, Balaclava, Gladstone Park and Warrandyte as the top five suburbs when ranked by clearance rate.

However, from the perspective of total sales by auction, Richmond had the most, with 336 sales at auction and a very strong clearance rate of 73 per cent. It was followed by Melbourne, Bentleigh East, Hawthorn and Reservoir as the top five suburbs when ranked by numbers sold.

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2011 Auction Statistics

Total Auctions: 28,807

Sold at Auction: 13,179
Sold before Auction: 2,803
Sold after Auction: 134

Passed in: 4,699
Passed in on vendor’s bid: 7,992

Clearance rate: 56%

Total Volume (Auctions): $11,602.37 mil

More information

Hodges Real Estate Open for Inspections Melbourne & Surrounds from Thursday 15th to Wednesday 21st December 2011

www.hodges.com.au/openinspections.html

PRINTABLE LIST: Hodges OFIs PDF

Hodges Melbourne Property Market Report for December 2011, with Warren Tate

View a video wrap-up of the Melbourne property market for December 2011. Presented by Hodges Franchise Director, Warren Tate.
Hodges Market Report December 2011

Melbourne Weekly Auction & Sales Results, Market Overview Saturday 10th & Sunday 11th December 2011

The clearance rate this weekend is 55 per cent compared to 53 per cent last weekend and 57 per cent this weekend last year.

There is only one more normal weekend of auctions this year and it appears that the overall clearance rate in 2011 will be 56 per cent.

There has been a total of 803 auctions reported this weekend of which 439 sold and 364 were passed in, 230 of those on a vendors bid.

Next weekend the REIV expects 615 auctions.

Enzo Raimondo
CEO REIV

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Total Auctions

This weekend: 803
Last weekend: 761
This time last year: 1235

S Sold at Auction: 350
SB Sold before Auction: 87
SA Sold after Auction: 2

Passed in: 364
Passed in on vendor’s bid: 230

Clearance rate: 55%

Postponed: 8
Withdrawn: 5
Auctions with no result: 96

PS Private Sales: 599

Total Volume (Auctions): $306.83mil
Total Volume (Private Sales): $279.44mil

Total Auctions Houses: 552
Clearance Rate: 55%
Median Price: $645,000
Total Value: $233,623,557

Total Auctions Flats/Apartments: 235
Clearance Rate: 56%
Median Price: $508,250
Total Value: $71,297,850

Total Auctions Vacant Land: 14
Clearance Rate: 21%
Median Price: $400,000
Total Value: $1,910,000

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House Sales in Detail

TOP 5 HOUSES
1. 23 Swinton Avenue, Kew $3,592,500
2. 259 Scotchmer Street, Fitzroy North $3,185,000
3. 123 The Boulevard, Ivanhoe $1,975,000
4. 347 St Kilda Street, Brighton $1,925,000
5. 7 Rae Street, Hawthorn $1,895,000

TOP 5 BARGAIN HOUSES
1. 49 Exford Road, Melton South $192,500
2. 19 Rosemary Crescent, Frankston North $210,500
3. 33 Walnut Street, Whittlesea $259,500
4. 92 Dalray Crescent, Kurunjang $260,000
5. 10 Robertson Drive, Mornington $261,500

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Flat/Apartment Sales in Detail

TOP 5 APARTMENTS
1. 3.03/1 Wallace Avenue, Toorak $1,406,000
2. 15A Peel Street, Kew $1,160,000
3. 11A Raynes Street, Caulfield South $1,045,000
4. 9 Walsh Street, West Melbourne $1,032,500
5. 9B Charles Street, Bentleigh East $940,000

TOP 5 BARGAIN APARTMENTS
1. 21/44 Kneen Street, Fitzroy North $215,000
2. 9/45 Oakleigh Road, Carnegie $216,000
3. 3/34 Sharps Road, Tullamarine $237,000
4. 8/34 Gardenia Road, Elsternwick $275,500
5. 3/30 Delaware Street, Reservoir $286,750

More information

Hodges Real Estate Open for Inspections Melbourne & Surrounds from Thursday 8th to Wednesday 14th December 2011

www.hodges.com.au/openinspections.html

PRINTABLE LIST: Hodges OFIs PDF

Melbourne Weekly Auction & Sales Results, Market Overview Saturday 3rd & Sunday 4th December 2011

The clearance rate from this weekends auctions is 55 per cent compared to 51 per cent last weekend and 60 per cent this weekend last year.

For the fifth week in a row there has been no substantive change in the level of demand at auctions and the REIV expects the current state of the market to continue till the end of the year.

There has been a total of 683 auctions reported of which 374 sold and 309 passed in, 216 of those on a vendors bid.

The REIV expects around 900 auctions next weekend.

Enzo Raimondo
CEO REIV

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Total Auctions

This weekend: 683
Last weekend: 968
This time last year: 1071

S Sold at Auction: 306
SB Sold before Auction: 67
SA Sold after Auction: 1

Passed in: 309
Passed in on vendor’s bid: 216

Clearance rate: 55%

Postponed: 0
Withdrawn: 4
Auctions with no result: 118

PS Private Sales: 493

Total Volume (Auctions): $276.98mil
Total Volume (Private Sales): $231.21mil

Total Auctions Houses: 456
Clearance Rate: 54%
Median Price: $725,000
Total Value: $204,538,499

Total Auctions Flats/Apartments: 214
Clearance Rate: 57%
Median Price: $495,000
Total Value: $66,646,250

Total Auctions Vacant Land: 13
Clearance Rate: 46%
Median Price: $1,800,000
Total Value: $5,793,000

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House Sales in Detail

TOP 5 HOUSES
1. 31 Adelaide Street, Armadale $2,425,000
2. 157 Leicester Street, Fitzroy $2,360,000
3. 8 Bolton Avenue, Hampton $2,250,000
4. 4 Coombs Avenue, Kew $1,850,000
5. 13 Lofty Avenue, Camberwell $1,725,000

TOP 5 BARGAIN HOUSES
1. 47 Orrong Avenue, Reservoir $320,000
2. 3 Stewart Grove, Campbellfield $328,000
3. 5A Vines Court, Mill Park $330,000
4. 10 Lyndall Road, Belgrave South $335,000
5. 3 Hotham Street, Braybrook $375,000

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Flat/Apartment Sales in Detail

TOP 5 APARTMENTS
1. 17.3/193 Domain Road, South Yarra $2,250,000
2. 1/5 Woorigoleen Road, Toorak $1,550,000
3. 29 Holroyd Avenue, St Kilda East $1,250,000
4. 2/2 Marine Avenue, St Kilda $1,115,000
5. 6 Harold Street, Sandringham $1,102,000

TOP 5 BARGAIN APARTMENTS
1. 13/17 Park Street, Hawthorn $250,000
2. 4/28 Ormond Road, West Footscray $265,500
3. 13/176 Rathcown Road, Reservoir $292,500
4. 13/1 Greenfield Street, Clayton $300,000
5. 1/80 Alexander Avenue, Thomastown $315,000

More information

Hodges Real Estate Open for Inspections Melbourne & Surrounds from Thursday 1st to Wednesday 7th December 2011

www.hodges.com.au/openinspections.html

PRINTABLE LIST: Hodges OFIs PDF

Melbourne Weekly Auction & Sales Results, Market Overview Saturday 26th & Sunday 27th November 2011

The clearance rate this weekend is 53 per cent compared to 50 per cent last weekend and 59 per cent this weekend last year.

Results from the last months auctions show how evenly balanced the market is with half the auctions resulting in a sale. This provides buyers with considerable opportunities to make offers on homes that are not being sold at their auction.

There were a total of 899 auctions reported of which 477 sold and 422 were passed in, 264 of those on a vendors bid.

Next weekend the REIV expects around 800 auctions and 925 the weekend after.

Enzo Raimondo
CEO REIV

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Total Auctions

This weekend: 899
Last weekend: 762
This time last year: 1101

S Sold at Auction: 396
SB Sold before Auction: 80
SA Sold after Auction: 1

Passed in: 422
Passed in on vendor’s bid: 264

Clearance rate: 53%

Postponed: 7
Withdrawn: 10
Auctions with no result: 97

PS Private Sales: 528

Total Volume (Auctions): $351.4mil
Total Volume (Private Sales): $260.05mil

Total Auctions Houses: 612
Clearance Rate: 52%
Median Price: $727,500
Total Value: $262,114,900

Total Auctions Flats/Apartments: 265
Clearance Rate: 57%
Median Price: $526,000
Total Value: $83,614,750

Total Auctions Vacant Land: 19
Clearance Rate: 42%
Median Price: $450,000
Total Value: $2,967,000

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House Sales in Detail

TOP 5 HOUSES
1. 98-100 Mont Albert Road, Canterbury $3,380,000
2. 99 Canterbury Road, Toorak $2,700,000
3. 4b Lorac Avenue, Brighton $2,425,000
4. 45 First Avenue, Kew $2,350,000
5. 5 Binnie Street, Brighton East $1,950,000

TOP 5 BARGAIN HOUSES
1. 6 Fell Road, Cockatoo $230,000
2. 37 Morwell Crest, Dallas $284,000
3. 55 Dickens Street, Lalor $314,500
4. 7 Malanda Court, Berwick $315,000
5. 397 Browns Road, Rye $325,000

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Flat/Apartment Sales in Detail

TOP 5 APARTMENTS
1. 6/50 Marne Street, South Yarra $1,900,000
2. 2/11 Rowland Street, Mont Albert $1,050,000
3. 1/2A Dendy Street, Brighton $930,000
4. 73 Mckinnon Road, Mckinnon $925,000
5. 8/16-18 Abinger Street, Richmond $925,000

TOP 5 BARGAIN APARTMENTS
1. 4/5 Gnarwyn Road, Carnegie $268,000
2. 2/58 Templestowe Road, Bulleen $285,000
3. 3/38 Rankins Road, Kensington $290,000
4. 13/7 Davison Street, Richmond $290,000
5. 3/23 Acland Street, St Kilda $300,000

More information

Hodges Real Estate Open for Inspections Melbourne & Surrounds from Thursday 24th to Wednesday 30th November 2011

www.hodges.com.au/openinspections.html

PRINTABLE LIST: Hodges OFIs PDF

Melbourne Weekly Auction & Sales Results, Market Overview Saturday 19th & Sunday 20th November 2011

The Melbourne auction market has been typified by consistently moderate levels of demand this year and this weekend is no different with a clearance rate of 53 per cent being recorded.

This compares to 51 per cent last weekend and 57 per cent this weekend last year.

There have been a total of 668 auctions this weekend of which 352 sold and 316 were passed in, 204 of those on a vendors bid.

Next weekend the REIV expects around 1045 auctions next weekend.

Enzo Raimondo
CEO REIV

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Total Auctions

This weekend: 668
Last weekend: 815
This time last year: 1013

S Sold at Auction: 303
SB Sold before Auction: 48
SA Sold after Auction: 1

Passed in: 316
Passed in on vendor’s bid: 204

Clearance rate: 53%

Postponed: 1
Withdrawn: 4
Auctions with no result: 115

PS Private Sales: 522

Total Volume (Auctions): $271.1mil
Total Volume (Private Sales): $253.2mil

Total Auctions Houses: 465
Clearance Rate: 52%
Median Price: $741,250
Total Value: $203,935,100

Total Auctions Flats/Apartments: 191
Clearance Rate: 54%
Median Price: $521,250
Total Value: $59,896,500

Total Auctions Vacant Land: 10
Clearance Rate: 50%
Median Price: $375,000
Total Value: $3,204,000

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House Sales in Detail

TOP 5 HOUSES
1. 24-26 Maltravers Road, Eaglemont $2,550,000
2. 39 Hannan Street, Williamstown $2,430,000
3. 7 Rothesay Avenue, Brighton $2,050,000
4. 382 Dandenong Road, Caulfield North $2,025,000
5. 125 Powlett Street, East Melbourne $1,925,000

TOP 5 BARGAIN HOUSES
1. 52 Williamstown Road, Kingsville $265,000
2. 45 Alma Street, Craigieburn $286,000
3. 99 Doveton Avenue, Eumemmerring $303,000
4. 13 Mereweather Avenue, Frankston $312,500
5. 45 Anthony Drive, Chirnside Park $360,000

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Flat/Apartment Sales in Detail

TOP 5 APARTMENTS
1. 41A Brunel Street, Malvern East $1,020,000
2. 7 Howard Street, South Yarra $875,000
3. 3B/516 Toorak Road, Toorak $870,000
4. 3 Broomfield Road, Hawthorn East $865,000
5. 2/45 Rose Street, Mckinnon $856,000

TOP 5 BARGAIN APARTMENTS
1. 6/3 Gordon Street, Footscray $206,500
2. 10/48 Sutherland Road, Armadale $280,000
3. 5/25 Broadmeadows Road, Tullamarine $280,000
4. 2/19 Beaumont Parade, West Footscray $282,000
5. 2/56A Albert Avenue, Springvale $298,000

More information