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Weekly Auction & Sales Results, Market Overview
Saturday 29 August 2009
A total of 436 of the 620 auctions reported to the REIV sold resulting in a clearance rate of 85 per cent.
Unlike other weekends this year there were more auctions scheduled than the comparable weekends over the last three years. The fact that the clearance rate remained above 80 per cent for the 16th weekend in a row removes any remaining questions about the strength of the market this year.
There were 620 auctions reported today of which 436 sold, 91 were passed in 38 of those passed in on a vendors bid.
We expect just under 600 auctions next weekend followed by around 800 the following two weekends.
Enzo Raimondo
CEO REIV
TOTAL AUCTIONS
This week: 620
Last weekend: 452
This time last year: 551
S Sold at Auction: 422
SB Sold before Auction: 103
SA Sold after Auction: 4
Passed in: 91
Passed in on vendor's bid: 38
Clearance rate: 85%
Postponed: 0
Withdrawn: 2
Auctions with no result: 42
PS Private Sales: 701
Total Volume (Auctions): $361.79mil
Total Volume (Private Sales): $326.33mil
Total Auctions Houses: 401
Clearance Rate: 87%
Median Price: $650,000
Total Auctions Flats/Apartments: 205
Clearance Rate: 82%
Median Price: $455,000
Total Auctions Vacant Land: 14
Clearance Rate: 71%
Median Price: $295,250 |
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