MARKET OVERVIEW DECEMBER 2014

As we move toward the end of the year for 2014 and welcome the new year 2015, it is easy to reflect and assess at a glance that the Melbourne property market has been achieving consistent and strong results for sellers, though the buyers have equally been successful, being able to secure great purchase results that promise good capital growth potential and rental yield.
Category: General
Posted by: Mark

LATEST SALES & AUCTION RESULTS – MONDAY 15TH DECEMBER – SUNDAY 21ST DECEMBER

A clearance rate of 68 per cent was recorded this weekend compared to 68 per cent last weekend and 67 per cent this weekend last year. There were 480 auctions reported to the REIV this weekend, with 326 selling and 154 being passed in, 65 of those on a vendor bid. This weekend concludes the strongest year for the auction market. There have been more than 40,300 auctions held over 2014 with over 28,500 selling, about 17 per cent higher than in 2013. The auction market will now take a break until the end of January, with the next big auction weekend scheduled in February 2015.

VIC AUCTION RESULTS:

SNAPSHOT

68%
Clearance Rate

480
Reported Auctions

Last week: 1468
This week last year: 468

    Sold prior to auction:

    73

    Passed in:

    154

    Sold at auction:

    249

    Passed on
    vendor’s bid:

    65

    Sold after auction:

    4

     

    Withdrawn:

    18

    Total Volume: $216.48mil

    Postponed:

    13

     

    No Result:

    119


HOUSE:

Total Auction Houses: 321

74%
Clearance Rate

Median Price : $665,000

Top 5 Houses
78 Wattle Rd HAWTHORN $3,160,000
413-414 Esplanade MOUNT MARTHA $2,350,000
18 Montclair Av GLEN WAVERLEY $2,055,000
6 Tovey St BALWYN NORTH $1,900,000
170 Gordon St BALWYN $1,850,000

Top 5 Bargain Houses
13 Lipton Dr FRANKSTON $290,000
6 Stanley Ct HOPPERS CROSSING $300,000
36 Wattleglen St CRAIGIEBURN $311,500
11 Sarah Ct SOUTH MORANG $321,000
3 Barclay St ALBION $321,500

PRIVATE SALE:

450
Private Sales

Total Volume: $286.32mil

FLATS AND APARTMENTS:

Total Auction Flats/Apartments: 147

56%
Clearance Rate

Median Price: $520,000

Top 5 Flats/Apartments
19 Leckie St BENTLEIGH $1,255,000
18A Abbin Av BENTLEIGH EAST $1,112,000
1/573 Toorak Rd TOORAK $1,091,000
2/203 Gertrude St FITZROY $1,001,000
1/25 Gladwyn Av BENTLEIGH EAST $890,000

Top 5 Bargain Flats/Apartments
12/44-46 Mary St PRESTON $280,000
22/2 Horizon Dr MARIBYRNONG $300,000
1/18 Barry St RESERVOIR $309,000
5/13 Harold St THORNBURY $310,000
5A Rocklands Rise MEADOW HEIGHTS $315,000

VACANT LAND:

Total Auction Vacant Land: 11

n/a
Clearance Rate

Median Price: $457,500

Vacant Land Sales
35 Stanley Cr MOUNT MARTHA $500,000
25 Perisher Dr CRAIGIEBURN $258,000

Supportive information source: REIV LATEST SALES & AUCTION RESULTS – MONDAY 15TH DECEMBER – SUNDAY 21ST DECEMBER

Start typing and press Enter to search