Melbourne Auction Results – March 9th
Melbourne Gears Up For Two Super Saturday Auction Weekends!
A clearance rate of 71 per cent was recorded this weekend compared to 77 per cent last weekend and 67 per cent this weekend last year. There were 306 auctions reported to the REIV with 217 selling and 89 being passed in, 45 of those on a vendor bid.
The market will gather momentum from next week onwards. There are two super Saturday weekends scheduled in the next fortnight – with 1,173 auctions scheduled next weekend and 1,265 the following weekend. In the year-to-date, there have been more than 3,500 auctions held.
Clearance Rate: 71%
Reported Auctions: 306
Sold at Auction: 169
Passed in: 89
Sold Before: 48
Sold After: 0
Auction Volumes: $149.39m
Last Weekend: 1440
Last Year: 277
Houses: 75%
Units: 65%
Photo Source: Urban Melbourne
Residential Property Listings – February Update
CoreLogic RP Data’s latest listings counts show that while overall listing stock is picking up on a monthly basis, listing volumes remain low when compared to the same time last year, although conditions are different across the individual states and capital cities. Read the latest report from CoreLogic RP Data on the national residential property listings update for February 2015.
RBA Holds Fire and Notes Mixed Performance of Property Markets
The Reserve Bank surprised real estate property markets last week by holding interest rates steady. It made clear in a statement, that while Sydney’s market may be hot, property elsewhere isn’t so hot with more varied performances in other cities in recent times.
Louis Christopher thinks that the RBA’s statement will put to rest talk of a national housing bubble. The RBA doesn’t appear to be too concerned about national house prices and it is looking at the market on a national basis. While house prices may be overvalued nationally to some degree, we aren’t seeing the sort of valuations that we saw back in 2003 that were way more inflated relative to incomes and GDP.
Melbourne Property Market Update – March 7th, 2015
This week’s property market update includes a report from Peter Sarmas noting that confidence in the real estate property market has been building in Melbourne since the Reserve Bank cut interest rates to 2.25%. We cover the full results of the February CoreLogic RP Data Home Value Index and the RBA interest rate results for March, Urban Melbourne reports that 2015 has kicked off with an abundance of off the plan apartment enquiries on the Melbourne Apartment Register and finally, an overhaul of Melbourne’s historic Queen Victoria Market is expected to be one of the city’s greatest economic drivers over the next decade.
TOP 5 HOUSES
- 11 Highbury Street, Balwyn North $2,690,000
- 92 Bayview Street, Williamstown $2,205,000
- 58 Metung Street, Balwyn $1,950,000
- 15 Howie Street, Glen Iris $1,720,000
- 52 Hedderwick Street, Essendon $1,615,000
TOP 5 BARGAIN HOUSES
- 2 Willow Drive, Hampton Park $295,000
- 13 Bendoc Court, Meadow Heights $325,000
- 6 Second Avenue, Craigieburn $335,000
- 1/60 Maude Avenue, Glenroy $335,000
- 38 Farnborough Avenue, Craigieburn $347,000
TOP 5 APARTMENTS
- 9 Tyalla Crescent, Toorak $1,585,000
- 10/30 Oliver Lane, Melbourne $1,460,000
- 153 Cobden Street, South Melbourne $1,438,000
- 17B Doynton Parade, Mount Waverley $1,195,000
- 39/211 Wellington Parade South, East Melbourne $945,000
TOP 5 BARGAIN APARTMENTS
- 603/45 Victoria Parade, Collingwood $145,500
- 8/41 Carroll Crescent, Glen Iris $260,000
- 1/6 Lewis Street, Frankston $275,000
- 4/50 Lillimur Road, Ormond $289,000
- 22/22 Blandford Street, West Footscray $307,500
Source: REIV
