There were 528 auctions reported this weekend with a total of 361 selling and 167 being passed in, 96 of those on a vendors bid.
The clearance rate from this weekend’s auctions is 68 per cent.
This weekend last year saw 293 auctions reported and a clearance rate of 85%. Next weekend the REIV expects 590 auctions.
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Sunday, July 11, 2010
Thursday, July 8, 2010
Auction preview 10-11 July
Last weekend: 585 auctions, clearance rate of 64 percent
This weekend last year: 292 auctions, clearance rate of 82 percent
This weekend 2008: 397 auctions, clearance rate of 66 percent
Comment
Last weekend saw an increase in the number of auctions in Melbourne with 57 per cent more homes sold compared to the same weekend last year.
Despite a clearance rate of 64 per cent, last weekend’s results indicate a strong market for the winter period as the mid 60s result is directly attributable to a comparable increase in stock levels.
It appears that the current high volumes will continue with 60 per cent more auctions scheduled in total over the next three weeks compared to the same period last year.
This trend indicates that the residential market is much more balanced, with purchasers less likely to be confronted with homes selling for unexpected prices; the best conditions buyer’s have seen in the last 18 months.
This weekend last year: 292 auctions, clearance rate of 82 percent
This weekend 2008: 397 auctions, clearance rate of 66 percent
Comment
Last weekend saw an increase in the number of auctions in Melbourne with 57 per cent more homes sold compared to the same weekend last year.
Despite a clearance rate of 64 per cent, last weekend’s results indicate a strong market for the winter period as the mid 60s result is directly attributable to a comparable increase in stock levels.
It appears that the current high volumes will continue with 60 per cent more auctions scheduled in total over the next three weeks compared to the same period last year.
This trend indicates that the residential market is much more balanced, with purchasers less likely to be confronted with homes selling for unexpected prices; the best conditions buyer’s have seen in the last 18 months.
Should there be an autumn selling season?
Every year the residential market gears up for the Spring Selling Season, this week we take a look at whether or not spring is worth the hype.
Every year we hear all the hype and excitement around the ‘Spring Selling Season’ as September comes closer however, the cold hard facts are that the spring season doesn’t see the greatest level of sales activity although it does record the greatest number of listings.
An analysis taken across sales volumes between January 2000 and December 2009 has found that on a national basis, it is actually March that is the busiest month for house and unit sales. On average over the last 10 years March has accounted for about 9.3% of all dwelling transactions on a national basis. The results have shown that despite the fact that March is the busiest month for sales there is little fluctuation in sales activity except within December and January when sales volumes fall away markedly. Clearly once everything starts to settle down after the Christmas / new year period, attention turns back to the property market resulting in strong sales volumes during March
Click to reas full article.
Every year we hear all the hype and excitement around the ‘Spring Selling Season’ as September comes closer however, the cold hard facts are that the spring season doesn’t see the greatest level of sales activity although it does record the greatest number of listings.
An analysis taken across sales volumes between January 2000 and December 2009 has found that on a national basis, it is actually March that is the busiest month for house and unit sales. On average over the last 10 years March has accounted for about 9.3% of all dwelling transactions on a national basis. The results have shown that despite the fact that March is the busiest month for sales there is little fluctuation in sales activity except within December and January when sales volumes fall away markedly. Clearly once everything starts to settle down after the Christmas / new year period, attention turns back to the property market resulting in strong sales volumes during March
Click to reas full article.
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