Another very happy family… another GREAT day at Scott Banks Real Estate Group!

The clearance rate this weekend is 53 per cent compared to 53 per cent last weekend and 62 per cent this weekend last year.

There have been 474 auctions reported this weekend of which 252 sold and 222 were passed in, 153 of those on a vendors bid.

This weekend is the final one this year with a substantial number of auctions – there are only another 40 auctions scheduled to occur before the end of the year.

The number of auctions for 2011 looks likely to be just short of 29,000 with a clearance rate of 56 per cent. The REIV will publish final overall results for the auction market on Wednesday at www.reiv.com.au .

Enzo Raimondo
CEO REIV

Total Auctions

This weekend: 474
Last weekend: 851
This time last year: 649

S Sold at Auction: 205
SB Sold before Auction: 46
SA Sold after Auction: 1

Passed in: 222
Passed in on vendor’s bid: 153

Clearance rate: 53%

Postponed: 4
Withdrawn: 1
Auctions with no result: 123

PS Private Sales: 585

Total Volume (Auctions): $166.47mil
Total Volume (Private Sales): $285.07mil

Total Auctions Houses: 305
Clearance Rate: 58%
Median Price: $675,000
Total Value: $129,827,888

Total Auctions Flats/Apartments: 154
Clearance Rate: 45%
Median Price: $495,000
Total Value: $34,281,699

Total Auctions Vacant Land: 13
Clearance Rate: 23%
Median Price: $240,000
Total Value: $1,105,000

House Sales in Detail

TOP 5 HOUSES
1. 85 Broadway, Camberwell $3,220,000
2. 23 Bridge Street, Hampton $2,165,000
3. 53 Camperdown Street, Brighton East $2,010,000
4. 42 Clara Street, South Yarra $1,900,000
5. 30 Jackson Road, Mount Eliza $1,580,000

TOP 5 BARGAIN HOUSES
1. 4 Cyprus Place, Melton West $205,000
2. 52 Tollhouse Road, Kings Park $250,000
3. 30 Woodland Drive, Albanvale $269,500
4. 10A Chestnut Road, Mill Park $317,500
5. 2/8 Coventry Street, Tullamarine $318,000

Flat/Apartment Sales in Detail

TOP 5 APARTMENTS
1. 74B Miller Street, Carnegie $913,000
2. 4/68 Lyndhurst Street, Richmond $765,000
3. 2/5 Ailsa Court, Balwyn North $760,000
4. 3/42 Elizabeth Street, Malvern $745,000
5. 32A Crisp Street, Hampton $730,000

TOP 5 BARGAIN APARTMENTS
1. 311/1 Queens Avenue, Hawthorn $101,000
2. 1/11 London Street, Broadmeadows $200,000
3. 1/68 Ormond Road, Ascot Vale $256,000
4. 2/161 Cleeland Street, Dandenong $267,000
5. 5/1 Mcfadzean Avenue, Reservoir $280,000

SOURCE: REIV