The view south from penthouse 4P1/431 St Kilda Road Melbourne 3004

The REIV is not generally publishing a clearance rate this weekend as, due to the AFL Grand Final, there are less than 100 auctions this weekend.

A total of 47 auctions have been reported of which 29 sold and 18 were passed in, 9 of those on a vendors bid.

Before this weekend there have been just under 21,000 auctions held with just over 12,000 selling translating to a clearance rate of 57.6 per cent.

The REIV is expecting around 585 auctions next weekend and just over 700 the following weekend.

Enzo Raimondo
CEO REIV Continue reading →

A very wet day in Melbourne and the AFL Grand Final kept numbers at Open For Inspections understandably quiet today. Next week will see numbers pick up considerably and are expected remain that way until Derby Day.

The REIV is not generally publishing a clearance rate this weekend as, due to the AFL Grand Final, there are less than 100 auctions this weekend.

A total of 39 auctions have been reported of which 24 sold and 15 were passed in, 7 of those on a vendors bid.

Before this weekend there have been just under 21,000 auctions held with just over 12,000 selling translating to a clearance rate of 57.6 per cent.

The REIV is expecting around 585 auctions next weekend and just over 700 the following weekend.

Enzo Raimondo
CEO REIV Continue reading →

St Kilda Road Melbourne… in a class of its own this beautifully presented fully renovated penthouse apartment is now available for sale by private negotiation.

The clearance rate this weekend is 53 per cent compared to 55 per cent last weekend. This weekend last year was the first grand final weekend so no clearance rate was issued.

There can be no doubt that ongoing concerns about the health of the global economy are having an impact on the confidence of buyers in the Melbourne auction market.

There have been a total of 628 auctions reported of which 335 sold and 293 were passed in, 195 of those on a vendors bid.

Next weekend there are only 50 auctions, less than half of those on Saturday. No clearance rate will be issued.

Enzo Raimondo
CEO REIV Continue reading →

For further details about this spectacular development Fifty Albert in South Melbourne contact Scott Banks via our contact page, last release a couple of spectacular apartments remain

The clearance rate this weekend is 53 per cent compared to 55 per cent last weekend. This weekend last year was the first grand final weekend so no clearance rate was issued.

There can be no doubt that ongoing concerns about the health of the global economy are having an impact on the confidence of buyers in the Melbourne auction market.

There have been a total of 599 auctions reported of which 315 sold and 284 were passed in, 188 of those on a vendors bid.

Next weekend there are only 50 auctions, less than half of those on Saturday. No clearance rate will be issued.

Enzo Raimondo
CEO REIV Continue reading →

Aerial photograph of Jennifer Hawkins and Jake Wall’s house that is being constructed on the Curl Curl headland on Sydney’s Northern Beaches.  Picture: Tim Hunter Source: The Sunday Telegraph

THIS is the closest most of us will ever come to seeing the inside of Jennifer Hawkins’ lavish new mansion.

Amazing photographs taken by The Sunday Telegraph last week reveal that work is well under way on the property at North Curl Curl on Sydeny’s northern beaches.

The Myer model bought the prized piece of seaside land for $1.375 million with fiance Jake Wall last year, and the couple have wasted no time turning what was a tennis court into their dream home.

Continue reading →

Actress Wendy Wilkins has moved from Ramsay Street to a much more prestigious neighbourhood. The former Neighbours star has moved on to property sales in Hollywood, picking and choosing the neighbours of celebrities.

No stranger to big names, Wilkins has acted alongside Academy award nominees, Kristin Scott Thomas and Ralph Fiennes. She now works and resides among A-list stars as a multimillion-dollar realtor. Her latest project is marketing an iconic Loz Feliz property. Continue reading →

Live like Royalty in this Penthouse Apartment. Contact Scott Banks Real Property today for further details and a private inspection.

There was a minor improvement in the clearance rate this weekend with 57 per cent of homes offered at auction selling compared to 54 per cent last weekend and 69 per cent this weekend last year.

So far this year just over 11,500 homes have sold at auction. This is less than 2010, 2008 and 2007 but more than in either 2009 or 2006.

A total of 593 auctions were reported of which 338 sold and 255 were passed in, 173 of those on a vendors bid.

There is an increase in the number of auctions next weekend to 740 before a reduction for the AFL Grand Final.

All of Victoria will receive Melbourne Property TV from Monday. For those in Melbourne and Geelong it is on Ch31 (digital 44) and outside of those areas it will be on Channel 4 (digital 64).

Enzo Raimondo
CEO REIV Continue reading →

Just listed St Kilda Road Penthouse for further details contact Scott Banks Real Property spectacular views fully renovated a must see!

There was a minor improvement in the clearance rate this weekend with 57 per cent of homes offered at auction selling compared to 54 per cent last weekend and 69 per cent this weekend last year.

So far this year just over 11,500 homes have sold at auction. This is less than 2010, 2008 and 2007 but more than in either 2009 or 2006.

A total of 540 auctions were reported of which 306 sold and 234 were passed in, 159 of those on a vendors bid.

There is an increase in the number of auctions next weekend to 740 before a reduction for the AFL Grand Final.

All of Victoria will receive Melbourne Property TV from Monday. For those in Melbourne and Geelong it is on Ch31 (digital 44) and outside of those areas it will be on Channel 4 (digital 64).

Enzo Raimondo
CEO REIV

Continue reading →

Samantha Stosur defeated American Serena Williams in straight sets to take  out the US Open in New York.

Stosur is posing for photographers with her new trophy, sitting mid-court in  front of a line of American flags.

In the end, it was a comprehensive victory, Stosur winning 61 points to 41.  The 27-year-old Queenslander put her first serve into play 65% of the time,  compared to the American’s 52%, and she hit 20 winners to 19 whilst committing  only 12 unforced errors to Williams’ 25. Stosur made more inroads into her  opponent’s service, converting five of nine break point  opportunities.

Continue reading →

The Cove Skyhouse & Penthouse with Priceless View

The crowning glory of Harry Seidler’s city monument The Cove, the penthouse has an impressive view of the Darling Harbour and Sydney Opera House.

Owner, UK entrepreneur Graham Hellier, has spent millions upgrading the property after creditors foreclosed on the original owner – notorious Kovelan Bangaru. When Bangaru’s tradesmen realised they would not be paid for their work, they staged an attack on the property, ripping out much of the furnishings and pouring cement down the drains and the side of the building.

Continue reading →

The clearance rate this weekend is 55 per cent compared to 55 per cent last weekend and 70 per cent this weekend last year.

The clearance rate this weekend is 55 per cent compared to 55 per cent last weekend and 70 per cent this weekend last year.

Whilst buyers and sellers alike will have welcomed the decision by the Reserve Bank to keep interest rates stable it has not been enough to cause a substantial improvement in the Melbourne auction market.

There have been a total of 539 auctions reported of which 297 sold and 242 were passed in, 154 of those on a vendors bid.

Around 1400 auctions are scheduled in the two weekends before the AFL Grand Final.

Anyone with an interest in the property market should make sure they watch Melbourne Property TV on Ch31 (44 on digital) at 8.30 Monday nights.

Enzo Raimondo
CEO REIV

Continue reading →

Bayside’s most impressive new development, Sandyhill, is soon to be unveiled to the public.

Conceived by Fender Katsalidis Architects, the impressive new addition is destined to become an iconic landmark of the Bayside area.

With views of the city, Port Phillip Bay and the Dandenongs, Sandyhill offers a fresh and convenient address in the heart of stunning Sandringham.

The design is a striking harmony of residential living and open space. Each apartment boasts expansive outdoor entertaining areas, overlooking vast landscaped walkways.

Continue reading →

The clearance rate this weekend is 57 per cent compared to 52 per cent last weekend and 70 per cent this weekend last year.

Conditions look certain to continue to favor buyers over the next few months.

There was a total of 470 auctions reported of which 268 sold and 202 were passed in, 140 of those on a vendors bid.

The REIV is expecting 630 auctions next weekend and 670 the weekend after.

Enzo Raimondo
CEO REIV

Continue reading →

THE Victorian property market went on a downhill run yesterday  when dozens  of properties in the ski village of Falls Creek sold for a fraction of their  retail price at a single ”no reserve” auction that, at times, resembled a fire  sale.

Developer and publisher of The Monthly Morry Schwartz made a  dramatic exit from the alpine property market at the first ”no reserve”  Helmsman auction of real estate held in Australia.

Mr Schwartz and his business partner Callum Fraser sold 74 apartments and  three retail spaces for  $12.8 million: the most expensive a three-bedroom unit  that went for $410,000, the cheapest a one-room bedsit that sold for  $30,000.

Japanese restaurant Oishii Go sold for just $150,000.

Continue reading →

The clearance rate this weekend is 55 per cent compared to 57 per cent last weekend and 70 per cent this weekend last year.

The clearance rate this weekend is 55 per cent compared to 57 per cent last weekend and 70
per cent this weekend last year.

Increased stock levels this weekend have resulted in conditions more favorable to buyers, a
trend likely to continue into spring.

There were a total of 503 auctions this weekend of which 276 sold and 227 were passed in,
159 of those on a vendors bid.

For the first weekend of spring the REIV is expecting 530 auctions.

Enzo Raimondo

CEO REIV

Continue reading →

American actor, film Producer, and general heartthrob has listed his old Malibu bachelor pad for $13.75 million.

Pitt, who is well known to be quite an architectural aficionado, has spent many millions of dollars renovating the 1962 home. The 4,088 square foot residence
includes four bedrooms, four bathrooms, living and dining rooms, a family room, and an all-stainless steel kitchen with walk-in refrigerator.

The property also includes covered parking for three cars, two indoor fireplaces and one outdoor, tennis court, lap-lane swimming pool, sound and security systems, and private access to the beach below. Continue reading →

A wave of discounting has seen 17 lenders in the past week
slash their fixed rates by 40 to 65 basis points and these are the largest
discounts seen since prior to the GFC.  These fixed rate products are
gaining popularity in the midst of economic uncertainty.

However, people should take care not be enticed to fix their
home loan for all the wrong reasons.

If we remember back a few years when there were more than
100,000 people who opted to chase cheap fixed rates the last time this kind of
slashing frenzy was the focus of media attention.  Sadly these people were
left sitting on the sidelines watching as the RBA dropping rates dramatically
over a matter of months with no benefit to them or their mortgage repayments.

Continue reading →

It was a red-carpet affair at the historic Fitzroy Town Hall in inner Melbourne for The Block‘s climax — the auction!

The people’s choice award goes to…

Rod and Tania who won a Toyota Corolla after being deemed the favourites in the people’s choice award. In an even more magnanimous gesture Toyota announced they would sell another Corolla on eBay, with the proceeds going to the Melanoma Institute of Australia.

Click here to start bidding on Polly and Waz’s Toyota Corolla.

An engaging surprise

Continue reading →

The clearance rate this weekend is 60 per cent, compared to 56 per cent last weekend and 73 per cent this weekend last year.

This weekends result is consistent with the past three months in which the monthly clearance rate has been 55 per cent.

There were a total of 436 auction results reported this weekend of which 260 sold and 176 were passed in, 114 of those on a vendors bid.

There will be a small lift in stock next weekend with 615 auctions expected.

Enzo Raimondo
CEO REIV Continue reading →

The clearance rate this weekend is 59 per cent, compared to 56 per cent last weekend and 73 per cent this weekend last year.

This weekends result is consistent with the past three months in
which the monthly clearance rate has been 55 per cent.

There were a total of 409 auction results reported this weekend of
which 242 sold and 167 were passed in, 107 of those on a vendors bid. There will be a small lift in stock next weekend with 615 auctions expected.

Enzo Raimondo

CEO REIV Continue reading →

This weekend the clearance rate is 57 per cent compared to 54 per cent last weekend and 67 per cent this time last year.

Those looking to sell their home over spring will be hoping that speculation of an interest rate cut last week becomes a reality as it would boost buyer confidence just at the right time.

There was a total of 431 auctions reported this weekend, of which 244 sold and 187 were passed in, 123 of those on a vendors bid.

Next weekend the REIV expects around 490 auctions.

Enzo Raimondo
CEO REIV Continue reading →

The advertising campaigns for all four of the properties featured on Channel 9 hit The Blockhave begun, with the first open for inspection occurring Thursday, July 28.

The clearance rate this weekend is 57 per cent compared to 57 per cent last weekend and 67 per cent this weekend last year.

The falls recorded in the stock market do not appear to have impacted the residential auction market.

There were 460 auctions reported this weekend of which 260 sold and 200 were passed in, 139 of those on a vendors bid.

With just under 500 auctions scheduled next weekend a similar result is expected.

Enzo Raimondo
CEO REIV Continue reading →

Kinane, Brighton’s record-setting residence has been listed with price hopes of up to $20 million, which would allow it to regain the suburb’s top-seller crown.

The landmark Max Beck-built residence has been extensively renovated since it last sold for a record $11.2 million in 2006.

It has been listed by businessman Russell Small, who retired last year from the board of the telecom and utilities industry services provider Service Stream, and his partner Belinda Ding.

It has been listed through Kay & Burton Brighton agent Ian Jackson, with offers due by September 7.

Kinane is set on the corner of The Esplanade and Kinane Street, fronted by Canary Island palms. Continue reading →

Melbourne auction

The clearance rate this weekend is 57 per cent compared to 57 per cent last weekend and 67 per cent this weekend last year.

The falls recorded in the stock market do not appear to have impacted the residential auction market.

There were 414 auctions reported this weekend of which 238 sold and 176 were passed in, 123 of those on a vendors bid.

With just under 500 auctions scheduled next weekend a similar result is expected.

Enzo Raimondo
CEO REIV Continue reading →

BEHIND the scenes, Channel Nine has been busy lodging applications to effectively rebuild the quartet of neighbouring terraces that are the subject of heavily marketed TV show The Block, which airs from June 20.

Nine agreed to buy the four rundown single-storey homes at 37-43 Cameron Street for $3.6 million soon after they hit the market last year. Settlement occurred in February, at about the same time new planning applications were lodged (and subsequently approved) by the City of Yarra council.
Eleven months ago, the terraces were offered for sale with an adjoining 446 square metre parcel of land (addressed 31 – 35 Cameron Street) which Nine is currently using to store materials and machinery. Continue reading →

The clearance rate this weekend is 59 per cent compared to 55 per cent last weekend and 66 per cent this weekend last year.

An increase in listings is expected in spring and those vendors looking to sell at auction will welcome the small improvement in demand this weekend.

There was a total of 421 auctions reported of which 249 sold and 172 were passed in, 110 of those on a vendors bid.

The REIV expects around 585 auctions next weekend.

Enzo Raimondo
CEO REIV Continue reading →

New York’s skinniest house is for sale for $4.3 million.

The home is not only famous for its slender assembly, but also for notable occupants over the years.

The home, that only earns a ‘half’ street number at 75½ Bedford Street, is in one of New York’s most sought-after neighbourhoods, Greenwich Village. It started its life in the 1800’s as a carriageway entrance between numbers 75 and 77 that lead to stables, but evolved into what was a cobbler’s shop, a brewery, then a sweet factory until the 1920s, and finally a home.

Famous residents over the years include Cary Grant; Drew Barrymore’s grandfather John Barrymore; anthropologist Margaret Mead; the cartoonist who created Shrek, William Steig; and American author, Edna St. Vincent Millay, who the house is named after. Continue reading →

Channel Nine’s Channel Nine’s massive hit renovation show The Block will stay in Melbourne and film a second series in the Victorian capital.

Producers of the show purchased four terrace homes in Dorcas St, South Melbourne late last month for a reported $3.025 million.

Watercress Productions is also reported to have purchased a stand-alone four bedroom property in nearby Montague St for about $900,000.

The four separate titles, sold by agents Buxton Albert Park, were sold with plans and permits in place which also allow for a third story to be added to each dwelling. Continue reading →

Jerry Seinfeld has listed one of his properties, in Colorado, for sale for over $18 million.

Jerry, his wife Jessica, and their three children, spend most of their time in their iconic duplex in the Beresford building on Central Park West in New York, once owned by Violinist maestro Isaac Stern.

The funny man takes his real estate seriously however, with a property portfolio including a four-bedroom ranch house in Burlington, a $4 million townhouse style building with five or more apartments in New York’s West End, a $4.5 million warehouse building in Los Angeles, and a $25 million ocean front estate in the Hamptons he bought from fellow entertainer, Billy Joel. Continue reading →

Formula One famous face, Mark Webber, has bought a tropical oasis from tennis ace, Thomas Muster, for the grand sum of $5 million.

The 1362 square metre property, that was passed in at auction in January this year, boasts stunning views over Tea Tree Bay, extending to Double Island Point.

The home as designed by Noosa resident, John Mainwaring, for entertaining on a grand scale. It includes four bedrooms, three bathrooms, extensive outdoor seating areas and dining options, landscaped water features, and a private pool. Continue reading →

The clearance from this weekends auctions is 55 per cent compared to 68 per cent over this weekend last year.

This is a small improvement on last weekends’ 53 per cent but is consistent with the year to date clearance rate of 59 per cent.

There was a total of 439 auctions this weekend, of which 243 sold and 196 were passed in. Of the homes passed in 117 were passed in on a vendors bid.

Next weekend the REIV expects 420 auctions.

Enzo Raimondo
CEO REIV Continue reading →

Craig and Connie Kimberley, who’s family founded the Just Jeans Group fashion and apparel retail giant, have placed their Port Douglas hilltop retreat on the market.

Kalimna, which is aboriginal for ‘beautiful place’, is the largest private residential property in Port Douglas, with its land size being in excess of 4000 square metres. It boasts panoramic views over the Coral Sea, Four Mile beach through to the rainforest beyond.

Built in 1991, the residence was designed by award winning architect Christine Vadasz and consists of nine separate pavilions that cascade down the hillside, linked by elevated walkways, stone pathways and an inclinator. Continue reading →

One of the few ‘titles’ Anna Kournikova can truly claim, her home in Miami Beach, is now for sale for $9.4 million.

The waterfront property is spread over 19 thousand square feet and features a pool, Jacuzzi, covered entertaining area, private jetty, and an ivy-covered Mediterranean-style house with seven bedrooms, eight bathrooms, high ceilings, arched windows, a formal dining room, a living room with an open fireplace, a gourmet kitchen with granite countertops, sauna, and a two-story guest house.

Kournikova, who has been in a relationship with pop star Enrique Iglesias for 9 years, purchased the property 11 years ago for $5 million. Continue reading →

The clearance rate from this weekends auctions is 55 per cent.

There was a total of 403 homes auctioned, with 223 selling and 180 being passed in. Of the homes passed in 117 were passed in on a vendors bid.

Melbourne’s auction market has moved into winter a normal winter cycle with an average of 463 auctions for next 4 weekends compared to 634 in the first half of the year.
This weekend last year saw 591 auctions and a clearance rate of 65 per cent.

Enzo Raimondo
CEO REIV Continue reading →

The clearance from this weekends 639 auctions is 54 per cent. This shows that in all except a few circumstances buyers continue to be cautious when bidding and sellers are unlikely to have their price expectations exceeded, even when the home is sold.

Of the 639 auctions reported a total of 347 sold and 292 were passed in, 201 of those on a vendors bid.

This weekend last year saw a clearance rate of 68 per cent.

Next weekend another 670 auctions are expected.

Enzo Raimondo
CEO REIV Continue reading →

1026 Malvern Road ARMADALE

This weekend there have been 146 auctions reported with a clearance rate of 57 per cent.

The long weekend has resulted in a low volume of auctions.

A total of 83 homes were sold and 63 were passed in, of those 38 were passed in on a vendors bid.

This weekend last year saw 348 auctions and a clearance rate of 72 per cent.

Around 700 auctions are expected on each of the next two weekends.

Don’t miss Melbourne Property TV Monday night on Ch31 at 8.30pm.
Enzo Raimondo
CEO REIV Continue reading →

One of the most significant private properties in Australia has come on the market for a handsome sum of between $50 million and $70 million.

If the property was to sell at such a price, it would outshine the $45 million Currency Trader Ivan Ritossa paid for the Vaucluse mansion Coolong in 2008.

Named Fernhill, the property is one of the largest in the Sydney Metropolitan region, located in the suburb of Mulgoa, 60 kilometres west of Sydney’s CBD.

The estate dates from 1843 and features park-like landscapes, formal gardens designed by Paul Sorenson, pool, tennis court, spacious stables and thoroughbred training facilities.

“With history dating back almost two centuries, Fernhill’s 653 hectrares evokes the grandeur of a European establishment,” says agent Guillaume Volz. Continue reading →

This is the first annual decline in home values since February 2009, signalling it could now be a buyers’ market, writes RP Data’s Tim Lawless.

Melbourne’s housing market slipped into the red over the year to April 2011, recording an annual seasonally adjusted fall of 0.4 per cent in home values across the greater Melbourne market place.

This is the first annual decline in Melbourne home values since February 2009, following a 29 per cent surge in values between 2009 and 2010.

Since the start of 2007, Melbourne home values have increased by 47 per cent, which equates to a dollar value gain of approximately $150,000. Continue reading →

Green houses set to soar in demand

Running costs eating into family budget

• Payback for solar shortens dramatically

Archicentre’s David Hallett said rising energy prices were becoming a highly identified cost in every family budget and on the bottomline of every business. Continue reading →

Mirvac has formally announced that it has acquired the Eastern Golf Club in the Melbourne suburb of Doncaster.

Mirvac plans to transform the site into a landmark new master planned residential community featuring approximately 800 dwellings, including a mix of vacant land allotments, family homes, and apartments.

Located within close proximity to Westfield Doncaster Shopping Centre, the 47.14 hectare site represents one of Melbourne’s few major infill opportunities in the established Eastern green belt.

“The Eastern Golf Club site presents a unique and valuable set of attributes for a masterplanned community; namely the existing trees and vegetation, and undulation which provides beautiful long vistas of the local area as well as city views from some parts of the site,” said John Carfi, Mirvac Victoria CEO. 

Working closely with the Manningham Council and State Government agencies, proposed features include a mix of housing and retail areas, including a proposed café and convenience store; extensive public open space which incorporates many existing heritage trees; and the retention of the historic homestead ‘Tullamore’ and stables located at the sites entrance.

The purchase, which was marketed by Colliers International agent Peter Bremner, follows the Eastern Golf Club’s June 2008 decision to relocate the club to a new facility in the Yarra Valley in just over three years.

Mirvac expects to launch a registration of interest sales campaign regarding the Eastern Golf Club site in coming months.

For further information, visit their site.

SOURCE: thehomepage.com.au

This weekend 58 per cent of homes auctioned have resulted in a sale.

There is no doubt that most buyers and sellers will be hoping that the Reserve Bank keeps interest rates stable when they meet on Tuesday.

A total of 694 auctions were reported this weekend. Of those 403 sold and 291 were passed in, 187 of those on a vendors bid.

The last time the Melbourne market recorded 6 weeks with a clearance rate in the 50′s was late 2008 in the peak of the spring selling season. It is interesting to note that whilst its now winter the volume of auctions is the same as it was in late 2008.

This weekend last year saw 915 auctions and a clearance rate of 69 per cent.

Make sure you tune into Melbourne Property TV on Monday night at 8.30pm on Ch 31 to see experts discuss this weekends residential market.

Enzo Raimondo
CEO REIV

TOTAL AUCTIONS

This Week: 694
Last Week: 879
This time Last Year: 915

S Sold at Auction: 346
SB Sold before Auction: 57
SA Sold after Auction: 0

Passed in: 291
Passed in on vendor’s bid: 187

Clearance rate: 58%

Postponed: 7
Withdrawn: 2
Auctions with no result: 79

PS Private Sales: 569

Total Volume (Auctions): $286.05mil
Total Volume (Private Sales): $274.2mil

Total Auctions Houses: 438
Clearance Rate: 56%
Median Price: $700,000
Total Value: $194,292,488

Total Auctions Flats/Apartments: 246
Clearance Rate: 62%
Median Price: $530,000
Total Value: $84,585,513

Total Auctions Vacant Land: 10
Clearance Rate: 50%
Median Price: $610,000
Total Value: $7,170,000

House Sales in Detail

TOP 5 HOUSES
1. 72 Burke Road, Malvern East $2,500,000
2. 63 Reed Street, Albert Park $1,931,000
3. 81 Illawarra Road, Hawthorn $1,880,000
4. 138 Peel Street, Kew $1,850,000
5. 48 Finch Street, Malvern East $1,620,000

TOP 5 BARGAIN HOUSES
1. 17-19 Wombat Crescent, East Warburton $175,000
2. 1/50 Elonera Road, Noble Park North $280,000
3. 15 Kathryn Close, Pakenham $301,250
4. 39 Childers Crest, Coolaroo $316,000
5. 30 Kirkwood Crescent, Hampton Park $330,000

Flat/Apartment Sales in Detail

TOP 5 APARTMENTS
1. 14/165 Rose Street, Fitzroy $1,235,000
2. 3/543A Toorak Road, Toorak $1,005,000
3. 24A Ivy Street, Hampton $990,000
4. 5/3 Green Street, Richmond $981,000
5. 5/3 Christine Crescent, Richmond $915,000

TOP 5 BARGAIN APARTMENTS
1. 2/8 Coghill Street, Westmeadows $220,000
2. 2/8 Albert Street, Dandenong South $236,000
3. 15/204 Ballarat Road, Footscray $280,000
4. 15/18-28 Alfrick Road, Croydon $280,000
5. 6/138 Shields Street, Flemington $290,000

SOURCE: REIV

For the fifth weekend in a row demand remained subdued at auctions in Melbourne with a clearance rate in the 50′s being recorded.

The clearance rate is 59 per cent from the 829 auctions reported this weekend. This weekend last year saw 990 auctions held and a clearance rate of 72 per cent achieved.

There was a total of 487 homes sold at auction with 342 passed in, 236 of those on a vendors bid.

Next weekend the REIV expects around 785 auctions.

Enzo Raimondo
CEO REIV

TOTAL AUCTIONS

This Week: 829
Last Week: 769
This time Last Year: 990

S Sold at Auction: 418
SB Sold before Auction: 69
SA Sold after Auction: 0

Passed in: 342
Passed in on vendor’s bid: 236

Clearance rate: 59%

Postponed: 1
Withdrawn:5
Auctions with no result: 86

PS Private Sales: 348

Total Volume (Auctions): $399.25mil
Total Volume (Private Sales): $167.77mil

Total Auctions Houses: 546
Clearance Rate: 57%
Median Price: $795,000
Total Value: $293,473,585

Total Auctions Flats/Apartments: 250
Clearance Rate: 59%
Median Price: $540,000
Total Value: $83,095,855

Total Auctions Vacant Land: 29
Clearance Rate: 79%
Median Price: $330,000
Total Value: $18,064,300

House Sales in Detail

TOP 5 HOUSES
1. 46 Elizabeth Street, Malvern $4,680,000
2. 63 Outer Crescent, Brighton $2,610,000
3. 1 Pelham Place, Balwyn $2,495,000
4. 6 Kelvin Grove, Prahran $2,400,000
5. 47 Walpole Street, Kew $2,350,000

TOP 5 BARGAIN HOUSES
1. 29 Ortolan Avenue, Broadmeadows $245,000
2. 5 Inverloch Crescent, Dallas $306,000
3. 21 Cascade Street, Frankston $341,000
4. 3 St Leger Place, Epping $350,000
5. 5 Labassa Court, Mernda $353,000

Flat/Apartment Sales in Detail

TOP 5 APARTMENTS
1. 2 Frederick Street, Malvern $1,540,000
2. 9 Macfarlan Place, South Yarra $1,500,000
3. 135 Linacre Road, Hampton $1,220,000
4. 8 Barkly Avenue, Armadale $1,155,000
5. 13 Winfield Road, Balwyn North $1,135,000

TOP 5 BARGAIN APARTMENTS
1. 18/99-109 Creswick Street, Footscray $217,500
2. 38A Erinbank Crescent, Westmeadows $240,000
3. 9/91 Grosvenor Street, St Kilda East $275,000
4. 21/1 Pottery Court, Brunswick West $295,250
5. 4/29 Greville Street, Prahran $300,000

SOURCE: REIV

The clearance rate remains below the year to date average with 59 per cent recorded compared to 61 per cent up till this weekend.

Last year there was an increase of auctions held in May and it resulted in a reduction in the clearance rate, a circumstance that appears to be repeating itself in 2011.

There was a total of 666 auctions reported this weekend of which a total of 390 sold and 276 were passed in, 160 of those on a vendors bid.

This weekend last year saw 816 auctions and clearance rate of 73 per cent reached.

Next weekend there are 885 auctions expected.

Enzo Raimondo
CEO REIV

TOTAL AUCTIONS

This Week: 666
Last Week: 567
This time Last Year: 780

S Sold at Auction: 328
SB Sold before Auction: 61
SA Sold after Auction: 1

Passed in: 276
Passed in on vendor’s bid: 160

Clearance rate: 59%

Postponed: 3
Withdrawn:1
Auctions with no result: 91

PS Private Sales: 503

Total Volume (Auctions): $311.75mil
Total Volume (Private Sales): $251.46mil

Total Auctions Houses: 438
Clearance Rate: 58%
Median Price: $802,500
Total Value: $229,410,350

Total Auctions Flats/Apartments: 210
Clearance Rate: 62%
Median Price: $545,000
Total Value: $80,080,600

Total Auctions Vacant Land: 17
Clearance Rate: 41%
Median Price: $335,000
Total Value: $2,255,000

House Sales in Detail

TOP 5 HOUSES
1. 13 Campbell Road, Balwyn $3,200,000
2. 50 Elizabeth Street, Elsternwick $2,525,000
3. 20A Docker Street, Elwood $2,500,000
4. 86-88 Wilson Street, Brighton $2,310,000
5. 40 Somers Avenue, Malvern $2,220,000

TOP 5 BARGAIN HOUSES
1. 15 Haven Court, Westmeadows $319,000
2. 4 Sanderling Avenue, South Morang $370,000
3. 51 Centenary Drive, Mill Park $400,000
4. 224 Sussex Street, Pascoe Vale $408,500
5. 14 Paringa Avenue, South Morang $410,000
Flat/Apartment Sales in Detail

TOP 5 APARTMENTS
1. 35A Thanet Street, Malvern $1,380,000
2. 3-4/6 Riversdale Road, Hawthorn $1,246,000
3. 98 Railway Place, West Melbourne $1,120,000
4. 2/18 Strode Street, Richmond $1,115,000
5. 2 Vernon Street, Brighton East $1,088,000

TOP 5 BARGAIN APARTMENTS
1. 23/88 Franklin Street, Melbourne $242,000
2. 103/238 Flinders Lane, Melbourne $278,000
3. 9/23 Baxter Street, Coburg $288,000
4. 12/38 Burnley Street, Richmond $290,000
5. 1/650 Elizabeth Street, Carlton $305,000

SOURCE: REIV