Saturday July 31st 2010

Demand improved at this weekends residential auctions with a clearance rate of 71 per cent recorded, an increase from last weeks 66 per cent.

This result will provide encouragement and confidence to vendors with homes listed for auction between now and the federal election. An interest rate increase next week would reduce that confidence.

There was a total of 541 auctions reported this weekend, of which a total of 382 sold and 159 were passed in, 103 of those on a vendors bid.

This weekend last year saw 374 auctions, well under this weekend and a clearance rate of 87 per cent.

Next weekend the REIV expects 520 auctions.

House Sales in Detail

TOP 5 HOUSES

1. 58 Washington Street, Toorak $3,350,000
2. 42 Bayles Street, Parkville $1,701,000
3. 114 Maltravers Road, Eaglemont $1,700,000
4. 14 Green Street, Windsor $1,652,000
5. 27 Boorool Road, Kew East $1,582,000

TOP 5 BARGAIN HOUSES

1. 4 Burke Road, Sunbury $190,000
2. 21 Fugosia Street, Doveton $300,000
3. 21 Talgarno Street, Broadmeadows $320,000
4. 96 Ashenden Square, Rosebud $321,000
5. 12 Radiata Court, Mill Park $325,000

Flat/Apartment Sales in Detail

TOP 5 APARTMENTS

11. 1/29 Lewisham Road, Windsor $1,265,000
2. 609/108 Bay Street, Port Melbourne $1,200,000
3. 10 Butler Street, Camberwell $1,072,000
4. 43 Myrtle Street, South Yarra $982,500
5. 35/85 Rouse Street, Port Melbourne $970,000

TOP 5 BARGAIN APARTMENTS

1. 1/88-94 Franklin Street, Melbourne $260,000
2. 1/160 Bayswater Road, Croydon South $290,000
3. 2/139 Melrose Drive, Tullamarine $292,500
4. 3/42 Middle Road, Maribyrnong $295,000
5. 6/4-6 Burnewang Street, Albion $298,000