Have a safe and happy Christmas 2011. It’s been an absolute joy serving all your property needs this year and we are all absolutely looking forward to serving you all again in 2012

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 482 auctions reported this weekend of which 254 sold and 228 were passed in, 155 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: 482
Last weekend: 885
This time last year: 662

S Sold at Auction: 206
SB Sold before Auction: 47
SA Sold after Auction: 1

Passed in: 228
Passed in on vendor’s bid: 155

Clearance rate: 53%

Postponed: 4
Withdrawn: 2
Auctions with no result: 122

PS Private Sales: 585

Total Volume (Auctions): $167.49mil
Total Volume (Private Sales): $285.07mil

Total Auctions Houses: 311
Clearance Rate: 58%
Median Price: $672,500
Total Value: $130,420,388

Total Auctions Flats/Apartments: 156
Clearance Rate: 45%
Median Price: $494,750
Total Value: $34,704,699

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. 23 Bridge Street, Hampton $2,165,000
2. 53 Camperdown Street, Brighton East $2,010,000
3. 42 Clara Street, South Yarra $1,900,000
4. 30 Jackson Road, Mount Eliza $1,580,000
5. 43 Yongala Street, Balwyn $1,370,000

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