[staringclown]

Merry Xmas.

Quote

Weekly Market Overview
Saturday 17th December 2011

The clearance rate this weekend is 53 per cent compared to 53 per cent last weekend and 62 per cent this weekend last year.

There have been 474 auctions reported this weekend of which 252 sold and 222 were passed in, 153 of those on a vendors bid.

This weekend is the final one this year with a substantial number of auctions - there are only another 40 auctions scheduled to occur before the end of the year.

The number of auctions for 2011 looks likely to be just short of 29,000 with a clearance rate of 56 per cent. The REIV will publish final overall results for the auction market on Wednesday at www.reiv.com.au .

Enzo Raimondo
CEO REIV

Total Auctions


This weekend: 474
Last weekend: 851
This time last year: 649

S Sold at Auction: 205
SB Sold before Auction: 46
SA Sold after Auction: 1

Passed in: 222
Passed in on vendor's bid: 153

Clearance rate: 53%

Postponed: 4
Withdrawn: 1
Auctions with no result: 123

PS Private Sales: 585

Total Volume (Auctions): $166.47mil
Total Volume (Private Sales): $285.07mil

Total Auctions Houses: 305
Clearance Rate: 58%
Median Price: $675,000
Total Value: $129,827,888

Total Auctions Flats/Apartments: 154
Clearance Rate: 45%
Median Price: $495,000
Total Value: $34,281,699

Total Auctions Vacant Land: 13
Clearance Rate: 23%
Median Price: $240,000
Total Value: $1,105,000

House Sales in Detail

TOP 5 HOUSES
1. 85 Broadway, Camberwell $3,220,000
2. 23 Bridge Street, Hampton $2,165,000
3. 53 Camperdown Street, Brighton East $2,010,000
4. 42 Clara Street, South Yarra $1,900,000
5. 30 Jackson Road, Mount Eliza $1,580,000

TOP 5 BARGAIN HOUSES
1. 4 Cyprus Place, Melton West $205,000
2. 52 Tollhouse Road, Kings Park $250,000
3. 30 Woodland Drive, Albanvale $269,500
4. 10A Chestnut Road, Mill Park $317,500
5. 2/8 Coventry Street, Tullamarine $318,000

Flat/Apartment Sales in Detail

TOP 5 APARTMENTS
1. 74B Miller Street, Carnegie $913,000
2. 4/68 Lyndhurst Street, Richmond $765,000
3. 2/5 Ailsa Court, Balwyn North $760,000
4. 3/42 Elizabeth Street, Malvern $745,000
5. 32A Crisp Street, Hampton $730,000

TOP 5 BARGAIN APARTMENTS
1. 311/1 Queens Avenue, Hawthorn $101,000
2. 1/11 London Street, Broadmeadows $200,000
3. 1/68 Ormond Road, Ascot Vale $256,000
4. 2/161 Cleeland Street, Dandenong $267,000
5. 5/1 Mcfadzean Avenue, Reservoir $280,000

[staringclown]

Quote

2011 Auction Market Overview
1 January - 21 December 2011

The clearance rate for auctions in 2011 was 56 per cent compared to 71 per cent last year, 81 per cent in 2009 and 63 per cent in 2008.

The highest clearance rate in any week was 65 per cent in the week ending 13 March and the lowest was 49 per cent in the week ending 20 November.

As at 19 December there had been 28,807 auctions held in total. The number of auctions exceeds the number held in both 2009 and 2008 but is fewer than 2010, when there were 32,497 residential auctions.

The total value of auction sales was $11.6 billion compared to $16.8b in 2010, $12.1b in 2009 and $10.2b in 2008.

From an individual suburb perspective, the highest clearance rate was recorded in Wantirna South, where 82 per cent of homes sold. It was followed by Abbotsford, Balaclava, Gladstone Park and Warrandyte as the top five suburbs when ranked by clearance rate.

However, from the perspective of total sales by auction, Richmond had the most, with 336 sales at auction and a very strong clearance rate of 73 per cent. It was followed by Melbourne, Bentleigh East, Hawthorn and Reservoir as the top five suburbs when ranked by numbers sold.

In terms of median prices by suburb, the REIV will publish the December quarter medians in late January. In the meantime, an overview of changes in median prices in the year ending November can be accessed here.


2011 Auction Statistics


Total Auctions: 28,807

Sold at Auction: 13,179
Sold before Auction: 2,803
Sold after Auction: 134

Passed in: 4,699
Passed in on vendor's bid: 7,992

Clearance rate: 56%

Total Volume (Auctions): $11,602.37 mil

[wim]

What is the advantage of "passed in on vendor's bid". Is it just to allow for a price signal?

It took me ages to recognise that "no news is good news" didn't mean all news is bad news. The vendor bid strikes me as odd because they are trying to sell it and they are offering to buy it. I think they should pay stamp duty on the offer.

[staringclown]

wim, on 07 January 2012 - 12:31 PM, said:

What is the advantage of "passed in on vendor's bid". Is it just to allow for a price signal?

It took me ages to recognise that "no news is good news" didn't mean all news is bad news. The vendor bid strikes me as odd because they are trying to sell it and they are offering to buy it. I think they should pay stamp duty on the offer.

I think it means vendors want last years prices. They need to grieve a bit more or if they don't have to sell, wait for a more opportune time. There was rather a lot of them. 2:1

[staringclown]

Off and racing for another year of absurdity, 58% for the first reported week of the year on smallish numbers. No pent up demand evident as yet.

Quote

Latest Sales
Saturday 4th & Sunday 5th February 2012


The clearance rate from the 112 auctions reported this weekend is 58 per cent.

Of the 112 auctions reported 65 sold and 47 were passed in. Of those passed in 28 were on a vendors bid.

As volumes remain low these results are unlikely to be an accurate indication of the current state of the market.

On this weekend last year there were 189 auctions and a clearance rate of 56 per cent.

Next weekend around 305 auctions are expected followed by 620 on the weekend of 18 and 19 February.

Enzo Raimondo
CEO REIV

TOTAL AUCTIONS





This Week: 112
Last Week: 66
This time last year: 189

S Sold at Auction: 53
SB Sold before Auction: 12
SA Sold after Auction: 0

Passed in: 47
Passed in on vendor's bid: 28

Clearance rate: 58%

Postponed: 2
Withdrawn: 1
Auctions with no result: 24

PS Private Sales: 517

Total Volume (Auctions): $29.66mil
Total Volume (Private Sales): $239.52mil

Total Auctions Houses: 71
Clearance Rate: 56%
Median Price: $462,500
Total Value: $19,998,750

Total Auctions Flats/Apartments: 30
Clearance Rate: 60%
Median Price: $408,000
Total Value: $7,343,500

Total Auctions Vacant Land: 9
Clearance Rate: 56%
Median Price: $449,750
Total Value: $1,860,500

House Sales in Detail
TOP 5 HOUSES


1. 34 Auburn Grove, Hawthorn East $1,204,000
2. 167 Milburn Road, Keilor $1,092,500
3. 3 Pintail Close, Bundoora $732,000
4. 23 Warramunga Road, Bundoora $710,000
5. 1 Kinross Street, Hampton East $705,250

TOP 5 BARGAIN HOUSES


1. 77 Childs Street, Melton South $220,500
2. 22 Lehmann Crescent, Frankston North $228,000
3. 28 Ashleigh Avenue, Frankston $270,000
4. 15 Winn Grove, Fawkner $360,000
5. 19 Elwers Road, Rosebud $370,000




Flat/Apartment Sales in Detail
TOP 5 APARTMENTS

1. 158 Newman Street, Kensington $787,000
2. 17 Daisy Street, Essendon $721,000
3. 2B Naples Street, Box Hill South $638,000
4. 42 Coates Street, Bentleigh $540,000
5. 348B Bay Road, Cheltenham $491,500

TOP 5 BARGAIN APARTMENTS

1. 36/568 New Street, Brighton $325,000
2. 56A Gowanbrae Drive, Gowanbrae $391,000
3. 2/51 Epsom Road, Kensington $425,000
4. 1/34 Chute Street, Mordialloc $426,000
5. 2/1 Brush Grove, Glen Waverley $445,000

[Turkey]

staringclown, on 06 February 2012 - 08:41 AM, said:

Off and racing for another year of absurdity, 58% for the first reported week of the year on smallish numbers. No pent up demand evident as yet.

Yes, but wasn't that because of floods or rain or heat or wind or cold or the tennis or cricket or golf or a lunar eclipse with sales soon to surge?

[staringclown]

Turkey, on 06 February 2012 - 08:54 AM, said:

Yes, but wasn't that because of floods or rain or heat or wind or cold or the tennis or cricket or golf or a lunar eclipse with sales soon to surge?

All valid points. Don't forget about the recent increase in shark attacks!

[Mr Medved]

staringclown, on 06 February 2012 - 08:41 AM, said:

Off and racing for another year of absurdity, 58% for the first reported week of the year on smallish numbers. No pent up demand evident as yet.

That's a non-event weekend and terrible for REAs; third highest house price was 732k, two of the top four houses were in Bundoora, and three houses under 300k (you'd be lucky to see three all year in 2011).

[staringclown]

Mr Medved, on 06 February 2012 - 10:37 AM, said:

That's a non-event weekend and terrible for REAs; third highest house price was 732k, two of the top four houses were in Bundoora, and three houses under 300k (you'd be lucky to see three all year in 2011).

No argument from me. The figures are likely too small to gauge much from the results. I guess the real test will be the 19-20th Feb when we get 620 auctions and more of a cross section.

[Sally Periwinkle]

APM reporting a clearance rate of 70%.

http://www.homeprice...s/Melbourne.pdf

REIV reporting 66% on a decent volume.

[urchin]

Sally Periwinkle, on 13 February 2012 - 06:55 AM, said:

APM reporting a clearance rate of 70%.

http://www.homeprice...s/Melbourne.pdf

REIV reporting 66% on a decent volume.

volume down 35% yoy so decent volume is arguable... and APM has only 1/4 of REIVs results. doesn't exactly inspire a lot of confidence.

[staringclown]

Sally Periwinkle, on 13 February 2012 - 06:55 AM, said:

APM reporting a clearance rate of 70%.

http://www.homeprice...s/Melbourne.pdf

REIV reporting 66% on a decent volume.

APM always seem to be a bit optimistic to me. The REIV I don't entirely trust either but if the methodology is followed then over time trends will emerge either way. Even so the volumes are still low as urchin says. I'm prepared to wait until after the next few weeks before drawing a conclusion. Rates were going down until just this week. The rate increases are miniscule but sentiment on the back of the two previous cuts might see a difference emerge.

[booboo]

57.4% from RP Data.

[staringclown]

Forgot to post last weeks results

Quote

Latest Sales
Saturday 11th & Sunday 12th February 2012


TOTAL AUCTIONS





This Week: 303
Last Week: 127
This time last year: 424

S Sold at Auction: 152
SB Sold before Auction: 42
SA Sold after Auction: 1

Passed in: 108
Passed in on vendor's bid: 70

Clearance rate: 64%

Postponed: 6
Withdrawn: 2
Auctions with no result: 4

PS Private Sales: 519

Total Volume (Auctions): $117.08mil
Total Volume (Private Sales): $252.03mil

Total Auctions Houses: 190
Clearance Rate: 66%
Median Price: $602,500
Total Value: $79,027,888

Total Auctions Flats/Apartments: 102
Clearance Rate: 62%
Median Price: $517,500
Total Value: $36,129,119

Total Auctions Vacant Land: 11
Clearance Rate: 64%
Median Price: $286,250
Total Value: $1,922,500


House Sales in Detail
TOP 5 HOUSES


1. 65 Stevenson Street, Kew $3,000,000
2. 21 Alleyne Avenue, Armadale $1,965,000
3. 9 Milverton Street, Moonee Ponds $1,720,000
4. 42 Clipper Quay, Safety Beach $1,500,000
5. 20 Broomfield Avenue, Alphington $1,262,000

TOP 5 BARGAIN HOUSES


1. 2 Ballarto Road, Frankston North $262,000
2. 2 Shearer Court, Narre Warren $300,000
3. 21 Fortescue Avenue, Seaford $315,000
4. 91 Willow Road, Frankston $325,000
5. 10 Dundee Close, Gladstone Park $331,000




Flat/Apartment Sales in Detail
TOP 5 APARTMENTS

1. 302/279 Wellington Parade South, East Melbourne $1,650,000
2. 18 Centre Road, Brighton East $960,000
3. 17 Legon Street, Port Melbourne $900,000
4. 2/6 Henderson Court, Glen Waverley $781,000
5. 12/201 Abbotsford Street, North Melbourne $780,000

TOP 5 BARGAIN APARTMENTS

1. 3/65 Ballarat Road, Footscray $260,000
2. 23 Hilltop Mews, Frankston $295,000
3. 3/383 Gilbert Road, Preston $343,500
4. 49/93-103 High Street, Preston $352,000
5. 5/18 Fisher Parade, Ascot Vale $360,000

This weeks results... 58% on 546. That's an 6% decline on last weeks numbers so it looks like the optimism is returning to the market. (apologies to the good doctor)

Quote

Home>Property Research>Latest sales
Latest Sales
Saturday 18th February 2012

Today's auction clearance rate was 58 per cent, compared to 64 per cent last weekend, and 63 per cent on this weekend last year.

The small reduction in the clearance rate follows a doubling of the number of auctions compared to last weekend.

A total of 546 auctions were reported to the REIV today. Homes sold comprise 317 of the total. The remaining 229 were passed in, 149 of those on a vendor's bid.

Next weekend the REIV expects 880 auctions followed by 870 in a fortnight.

Enzo Raimondo
CEO REIV

TOTAL AUCTIONS





This Week: 546
Last Week: 297
This time last year: 716

S Sold at Auction: 241
SB Sold before Auction: 75
SA Sold after Auction: 1

Passed in: 229
Passed in on vendor's bid: 149

Clearance rate: 58%

Postponed: 7
Withdrawn: 2
Auctions with no result: 72

PS Private Sales: 490

Total Volume (Auctions): $224.81mil
Total Volume (Private Sales): $228.74mil

Total Auctions Houses: 348
Clearance Rate: 59%
Median Price: $735,000
Total Value: $163,859,138

Total Auctions Flats/Apartments: 184
Clearance Rate: 55%
Median Price: $482,000
Total Value: $57,194,300

Total Auctions Vacant Land: 14
Clearance Rate: 71%
Median Price: $387,500
Total Value: $3,755,000


House Sales in Detail
TOP 5 HOUSES


1. 148 Beaconsfield Parade, Albert Park $3,010,000
2. 56 Central Park Road, Malvern East $2,680,000
3. 1 Farleigh Grove, Brighton $2,222,000
4. 83 Locksley Road, Ivanhoe $2,025,000
5. 10 Victoria Street, Sandringham $1,935,000

TOP 5 BARGAIN HOUSES


1. 27 Mercier Street, Coburg North $272,000
2. 3 Orville Street, Coolaroo $280,000
3. 2/27 Hook Street, St Albans $280,000
4. 5 Acre Rise, Hampton Park $281,000
5. 26 Nebel Street, Lalor $300,500




Flat/Apartment Sales in Detail
TOP 5 APARTMENTS

1. 669 Orrong Road, Toorak $1,550,000
2. 2/351 Glenferrie Road, Malvern $1,260,000
3. 2/10 Ridgeway Avenue, Kew $925,000
4. 6 Kaikoura Avenue, Hawthorn East $915,000
5. 23 Grandview Road, Niddrie $848,000

TOP 5 BARGAIN APARTMENTS

1. 2/37 Kidman Street, Yarraville $240,500
2. 14/6 Garnet Street, Brunswick $245,000
3. 8/87 Heller Street, Brunswick West $278,000
4. 3/9 Robinson Road, Hawthorn $287,000
5. 8/3-5 Bradshaw Street, Kingsbury $290,000

[dodgydamo]

In terms of volume this weekend's results looking solid... until you note it seems January pretty much went AWOL compared to last year.
Something in the order of $1000M down (?!)



Next two weeks forecasting 800+ auctions per weekend ought to be interesting...

[dodgydamo]

from REIV website, draw your own conclusions:

Quote

Auction preview 26 and 26 February

Last weekend: 623 auctions, clearance rate of 57 per cent This weekend: 880 auctions <li>This weekend last year: 994 auctions, clearance rate of 64 per cent <li>This weekend 2010: 979 auctions, clearance rate of 87 per cent Auction numbers increase this weekend for the third consecutive time as the REIV expects around 880 homes to be offered.

The highest number of auctions will be held in Prahran, Richmond and South Yarra.

With a full months’ auction volumes recorded, it is now apparent that the overall number of listings is lower, around 17 per cent below the average between 2007 and 2011. This year there will be around 1900 auctions in February compared to the five-year average of 2285

[Solomon]

dodgydamo, on 25 February 2012 - 01:16 AM, said:

from REIV website, draw your own conclusions:

Quote

With a full months’ auction volumes recorded, it is now apparent that the overall number of listings is lower, around 17 per cent below the average between 2007 and 2011. This year there will be around 1900 auctions in February compared to the five-year average of 2285

My conclusions:
People don't want to sell their houses this year.
People are having a spell from selling houses.
People are holding onto their houses because they can't get the price they want.
People are going to private/listed sales rather than auctions to get a better deal.
People have discovered that homes are for living in, not selling.
There will be more houses for sale in the winter months when its cooler (temperature), to go to auctions.
Its just an abnormal year!

[mattau]

Solomon, on 25 February 2012 - 01:29 AM, said:

My conclusions:
People don't want to sell their houses this year.
People are having a spell from selling houses.
People are holding onto their houses because they can't get the price they want.
People are going to private/listed sales rather than auctions to get a better deal.
People have discovered that homes are for living in, not selling.
There will be more houses for sale in the winter months when its cooler (temperature), to go to auctions.
Its just an abnormal year!

3 "industry experts" have also given their predictions for the Victorian market for 2012.
Tim Fletcher, Paul Stoner & Brad Teal share their conclusions - check it out. WHat do you think?

[anon]

dodgydamo, on 25 February 2012 - 01:16 AM, said:

from REIV website, draw your own conclusions:

CONFIDENCE returned to the residential market over the weekend with the auction clearance rate climbing to 63 per cent from 772 auctions, according to the Real Estate Institute of Victoria.
Read more: http://www.theage.co...l#ixzz1nWkoTe5M



Not sure what happene to those other 108 houses

[staringclown]

anon, on 26 February 2012 - 09:54 PM, said:

Not sure what happene to those other 108 houses

Good question. Enzo promised 880 earlier in this thread.

Full score

Quote

Latest Sales
Saturday 25th & Sunday 26th February 2012

The auction clearance rate recorded this weekend was 63 per cent, compared with 57 per cent last weekend, and 64 per cent this weekend last year.

In light of the increased number of auctions this result provides an indication that demand is gradually improving this year.

There were 772 auctions reported to the REIV this weekend with 484 selling and 288 being passed in. Of those 189 were passed in on a vendor bid

Volumes remain high next weekend with 860 residential auctions scheduled.

Enzo Raimondo
CEO REIV

TOTAL AUCTIONS





This Week: 772
Last Week: 623
This time last year: 994

S Sold at Auction: 391
SB Sold before Auction: 91
SA Sold after Auction: 2

Passed in: 288
Passed in on vendor's bid: 189

Clearance rate: 63%

Postponed: 6
Withdrawn: 4
Auctions with no result: 102

PS Private Sales: 562

Total Volume (Auctions): $354.81mil
Total Volume (Private Sales): $263.91mil

Total Auctions Houses: 504
Clearance Rate: 64%
Median Price: $736,500
Total Value: $265,685,167

Total Auctions Flats/Apartments: 253
Clearance Rate: 62%
Median Price: $531,500
Total Value: $86,577,039

Total Auctions Vacant Land: 14
Clearance Rate: 36%
Median Price: $360,000
Total Value: $2,547,000



House Sales in Detail
TOP 5 HOUSES


1. 4 Sheehans Road, Red Hill $2,400,000
2. 21 Silverdale Road, Eaglemont $2,340,000
3. 14 Evans Court, Toorak $2,240,000
4. 112 Powlett Street, East Melbourne $2,045,000
5. 4 Green Street, Camberwell $1,951,000

TOP 5 BARGAIN HOUSES


1. 14 Cheleon Way, Kings Park $304,000
2. 10 Statesman Drive, Kurunjang $310,000
3. 12 Sharpe Court, Berwick $322,500
4. 268 Edgars Road, Lalor $323,000
5. 304C/640 Swanston Street, Carlton $325,000




Flat/Apartment Sales in Detail
TOP 5 APARTMENTS

1. 144/461 St Kilda Road, Melbourne $1,690,000
2. 1/13 Valetta Street, Malvern $1,303,000
3. 1-2/60 Havelock Street, St Kilda $1,290,000
4. 15 Brenbeal Street, Balwyn $1,200,000
5. 44A Ruskin Street, Elwood $1,091,000

TOP 5 BARGAIN APARTMENTS

1. 3/15-17 Charnwood Road, St Kilda $250,000
2. 3/44 Clarence Street, Elsternwick $254,000
3. 5/99 Melbourne Road, Williamstown $255,000
4. 1A/4 Floriston Road, Boronia $266,000
5. 3/24 Charlton Crescent, Reservoir $280,000