Weekly Market Overview
Week ending 27/11/2011
The Victorian clearance rate this weekend was 53 per cent, compared to 50 per cent last weekend and 59 per cent this weekend last year.
Results from the last months auctions show how evenly balanced the market is with half the auctions resulting in a sale. This provides buyers with considerable opportunities to make offers on homes that are not being sold at their auction.
There were a total of 899 auctions reported, of which 396 were sold at aucton, 80 sold prior amd 1 sold after. 422 were passed in, 264 of those on a vendors bid.
The highest priced house
- 98-100 Mont Albert Road, Canterbury $3,380,000
The highest priced apartment
- 6/50 Marne Street, South Yarra $1,900,000
The NSW clearance rate this weekend was 56 per cent.
Tim McKinnin, CEO of REINSW reported that “The last weekend in November typically marks one of the busiest auction weeks of the year, and this was no exception with just over 1,100 auctions scheduled. 798 results were reported, with 450 selling and 348 passing in for a clearance rate of 56 per cent.”
There were a total of 798 auctions reported of which 307 sold at auction, 126 sold prior and 17 sold after. 348 were passed in, 53 of those on a vendors bid and 99 were withdrawn.
The total volume of sales was $289.21 million