Melbourne Auction Results 2nd November 2015

In this week’s property market wrap we look at the latest HIA Affordability Index data for the September 2015 quarter and Australia’s eight capital cities from an affordability perspective. We also reveal the winner of the 2015 National Architecture Awards – People’s Choice Award, in which eleven residential projects were in the running to win the title.

A clearance rate of 67 per cent was recorded this weekend compared to 69 per cent last weekend and 67 per cent this weekend last year. There were 435 auctions reported to the REIV this weekend, with 290 selling and 145 being passed in, 60 of those on a vendor bid.

More than 5,000 auctions are scheduled for November and expected to be the biggest auction month of the year.

Photo Source: lonelyplanet.com

Housing Affordability Deteriorates

Martin North of Digital Finance Analytics reports on the HIA Affordability Index for the September 2015 quarter. During the September 2015 quarter, housing affordability worsened by 4.0 per cent compared with the previous quarter and was 2.1 per cent less favourable than the same time last year. Developments in the eight capital cities were more detrimental from an affordability perspective, with a 4.1 per cent deterioration occurring compared with the previous quarter. Compared with a year ago, affordability in the capital cities is 3.6 per cent less favourable. However, affordability actually improved in six of the fourteen markets included in the report.

Source: digitalfinanceanalytics.com

People’s Choice Award – Australia’s Favourite House

Villa Marittima, St Andrews Beach by Robin Williams Architect has won the 2015 National Architecture Awards People’s Choice Award. Eleven residential projects were in the running to win the title.

Photo Source: http://architectureau.com/

Robin Williams Architect’s design frames expansive ocean views, which are gradually revealed as visitors ascend the sloped entryway, similar to the experience of climbing a sand dune.

The project was also a winner of the Residential Architecture Award – Houses (New) at the 2015 Victorian Architecture Awards. It also received a commendation at the 2015 Houses Awards for the New House over 200 m² category.

All the projects shortlisted by the national jury for the Residential Architecture – Houses (New) and Residential Architecture – Houses (Alterations and Additions) categories were eligible for the People’s Choice Award.

Top 5 Houses

1. 13 Boston Road, Balwyn $3,258,000
2. 406 & 408 Riversdale Road, Hawthorn East $3,055,000
3. 11 Peel Street, Newport $1,960,000
4. 22 Dundee Avenue, Chadstone $1,890,000
5. 10 Jellicoe Street, Box Hill South $1,800,000

Top 5 Bargain Houses

1. 8 Orville Street, Coolaroo $283,000
2. 28 Koroit Avenue, Dallas $325,000
3. 19 Second Avenue, Craigieburn $335,000
4. 13 Myhaven Circuit, Carrum Downs $367,000
5. 15 Koonalda Grove, Dandenong North $380,000

Top 5 Apartments

1. 14 Teddington Road, Hampton $1,560,000
2. 2/2 Lindsay Street, Brighton $1,250,000
3. 1/7 Bebs Court, Templestowe $1,062,500
4. 2/3-5 Omar Street, Templestowe Lower $865,000
5. 2/635 Hampton Street, Brighton $865,000

Top 5 Bargain Apartments

1. 13/12 Schofield Street, Essendon $285,000
2. 11 Johnson Street, Moonee Ponds $293,500
3. 1/9 Asquith Street, Reservoir $303,000
4. 10/61 Wests Road, Maribyrnong $330,000
5. 7/108 Murrumbeena Road, Murrumbeena $333,500

Source: REIV