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Category Archives For: The Wrap – Melbourne Auctions

Auction Wrap – February 27th & 28th 2010

Still with auction numbers increasing, the clearance rate seems to be getting stronger and stronger. There were 945 auctions reported this weekend of which 818 sold and 127 passed in, resulting in an 86% clearance rate.

There were some really amazing results out there is weekend, with quite a few suburbs within the inner north recording a 100% clearance rate:

  • One result which dazzled was 26/495 Royal Parade (see video post tomorrow), Parkville which sold for $825,000 against a quote of $580,000 – $640,000. This is changing records, really….
  • 49 Gipps Street, East Melbourne sold strongly for $1.7 Million against a quote price of $1.4 Million – $1.5 Million. Good size though and great spot.
  • 105 Pigdon Street, Carlton North sold for $959,000 against a quote price of $730,000 – $800,000.

Auction numbers will decrease next weekend, due to the Labour Day Weekend to around 250, however numbers will be back up the following weekend to around 730.


Auction Wrap – February 20th & 21st 2010

There were 711 auctions this weekend, of which 450 sold, 152 sold before and 109 passed in, resulting in an 85% clearance rate.

Results this week were variable in terms of price – some really great results and some that were good value for the buyer.

The suburb of Brunswick performed very well, with a 100% clearance rate and some solid results.

Of note this week was 50 O’Grady Street, Carlton North, quoted $600,000 – $650,000 which sold for an undisclosed sum, well above the quote.

Also of note was 2/31 Morrah Street, Parkville quoted $480,000 – $530,000 sold for $676,000.

There are reported to be about 1000 auctions taking place this weekend.


Auction Wrap – February 13th & 14th 2010

Results from this weekend’s auctions indicate that the market is still strong and demand continues to be very solid.

There were 395 auctions reported this weekend, of which 333 sold resulting in an 85% clearance rate.

A large number of auctions scheduled for this weekend were sold prior to the date, over the Christmas and New Year break, resulting in few options for buyers this weekend. Low stock levels is a likely contributer to some of the great results recorded.

Of note this weekend, was the sale of 279 Flemington Road, North Melbourne quoted $1,000,000 to $1,100,000 which sold for an undisclosed sum, however the final result was a fair way over the quote price.

Also of note was the sale of 11 Page Street, Clifton Hill no quote price, which sold for $1,060,500.

Stock levels are set to rise over the next few weeks with approximately 1000 scheduled over the next fortnight.


Auction Wrap – February 6th & 7th 2010

The auction market has remained strong over the Christmas break recording a clearance rate of 83% this weekend.

164 auctions took place this weekend, of which 136 sold and 28 were passed in.

Median house sale price and median unit/apartment sale price were not far apart this week, with house median coming in at $563,000 and apartments at $532,000.

Auction numbers continue to creep up next week with 350 auctions set to take place.

Of note this week was 12/29 Little Palmerston Street, Carlton, which sold for $635,000 against a quote of $530,000 – $580,000.


Auction Wrap – December 19th & 20th 2009

We have finished off 2009 strong in terms of the auction market, with an 83% clearance rate.

There were 629 auctions reported this weekend of which 520 sold and 109 passed in.

This weekend brings a close to residential auctions and it can be said the 2009 market performed quite well, especially in later months. The overall clearance rate for the year sits at 81% from just over 22,570 auctions.

Of note this week was 18 Blyth Street, Brunswick which sold for $1,435,000 against a quote of $1,100,000 – $1,200,000.

Also one which appeared to be good value for the buyer was E25/89 O’Shanassy Street, North Melbourne, a two bedroom apartment, which sold for $400,000 against a quote of $350,000 – $385,000.


Auction Wrap – December 12th & 13th 2009

Despite being the busiest auction weekend this year, the clearance rate remained strong at 81%.

A total of 1057 auctions took place this weekend, of which 859 sold and 198 passed in.

Demand has held strong over the last quarter, with only one week falling below the 80% clearance.

Of note this week was 88 Cunningham Street Northcote, a large period mansion which sold for $2,020,000.

Some results did begin to drop off, like 330-332 Cardigan St Carlton, which sold for $1,380,000 inside the quote range of $1,350,000 – $1,450,000. This property previously sold for $1,180,000 back in 2008.

181-189 Gipps Street East Melbourne a large renovated family home passed in at $6,110,000. Only one bidder took part in the auction.


Auction Wrap – December 5th & 6th 2009

The auction clearance rate improved somewhat this week in comparison to last week at 78%, with an 82% clearance.

Although the clearance rate has crept back up, some results appeared soft in the higher price brackets in the inner North. When I say ‘soft’, they still sold reasonable well, but not exceptional.

Two Bedrooms places below the $500,000 mark still attracted plenty of competition all round.

There were 905 auctions reported to have taken place this week, of which 736 sold.

There is expected to be a new record number of auctions this weekend with just under 1100 set to be taking place.

Of note this week was 836 Drummond St Carlton North which sold for $2,120,000 against a quote of $1,800,000 to $2,000,000 – a solid result but still value for the buyer.


Auction Wrap – November 28th & 29th 2009

There were 1046 auctions reported this weekend, of which 816 sold. This considerable increase in auction numbers resulted in a clearance rate of 78%, the lowest clearance rate for some time.

The auction clearance rate has remained in excess of 80% for some weeks, until this weekend.

Although the clearance rate decreased a little, results remained quite solid.

Of note this week was 28 Morrah St, Parkville which sold for $2,050,000 against a quote of $1,400,000 – $1,500,000.

Also, 4 Kneen St, Fitzroy North which sold for an undisclosed sum, however was well above the quote of $1,300,000 – $1,430,000.

Over in Brunswick East, 6/242 Glenlyon Road sold for $513,000 against a quote of $370,000 – $410,000 – a very competitive auction with a number of bidders.

Over the next three weekends before Christmas there are around 2,500 auctions scheduled to be taking place.


Auction Wrap – November 21st & 22nd 2009

This weekend there were 735 auctions reported to have taken place of which 593 sold resulting in an 81% clearance rate.

This in line, with the year to date clearance of 81%.

The auction market is getting ready to finish up for 2009, with only four weekends left. In this time just over 3000 auctions are scheduled to take place.

Of note this week was 12 Bath Street, Abbotsford which sold for $1,224,000 against a quote of $900,000 +.

Also, 139 Drummond St, Carlton which sold for $1,370,000 – a 6 bedroom home.

A real surprise was the auction of 84 Palmerston Street, Carlton for $880,500. This property was put to market last year and could not be given away.

Last weeks will see some desperation from buyers and sellers to complete transactions.


Auction Wrap – November 14th & 15th 2009

The auction clearance rate this weekend was 83% – another strong weekend and the 27th week in a row that the clearance rate has exceeded 80%.

There were 795 auctions reported to have taken place on the weekend, of which 600 sold.

Of note this week was 13 Manica St, Brunswick West, which sold for $1,213,000 against of quote of $850,000 – $925,000. Brunswick overall performed very well, with a 100% clearance rate and some very strong results.

Over 1800 auctions are set to take place over the next two weekends.