Weekend in Review

12 - 13 April 2014


An auction clearance rate of 88% for this past weekend sees Woodards again perform better than the Melbourne average which this week sits at 70%.  Woodards has consistently beaten the average in no small part due to our strategic marketing, tailored to suit each individual property. 

Sales of note this weekend include:

woodards 5 yarra street kew
5 Yarra Street Kew  sold by Woodards Camberwell for $2.01m ($460k above reserve)

Woodards 11 Kangaroo Road Murrumbeena
11 Kangaroo Road Murrumbeena sold by Woodards Carnegie for $1.305m


Woodards 686 Rathdowne Street Carlton North
686 Rathdowne Street, Carlton North sold by Woodards Carlton for $1.65m


While real estate commentators are reporting that the market has now peaked, we are still experiencing strong interest and significant numbers of qualified buyers coming through our open for inspections.  Now, despite reports to the contrary, is still a great time to sell.


If you are thinking of selling, the current market may be the perfect opportunity for you -
contact one of our offices now for an obligation free appraisal of value and to discuss how our strategic thinking can work in your favour.

From the REIV

A clearance rate of 70 per cent was recorded this weekend compared to 69 per cent last weekend and 68 per cent this weekend last year.

There were 1201 auctions reported to the REIV this weekend, with 842 selling and 359 being passed in, 184 of those on a vendor bid.

While the auction volumes have been high so far this year, there are signs that clearance rates are trending lower. The median price increase in the March quarter 2014 was also moderate at 3.7%, as the market shows signs of a more sustainable level of growth.

Next weekend the REIV expects about 60 auctions due to the Easter weekend.

S Sold at Auction: 703
SB Sold before Auction: 137
SA Sold after Auction: 2

Passed in: 359
Passed in on vendor's bid: 184

Clearance rate: 70%

TOTAL AUCTIONS
This week: 1201
Yesterday: 15
Last Sunday: 36
This weekend last month: 287
This weekend last year: 539

CLEARANCE RATES:
Weekend: 70%
Yesterday: 67%
Last Sunday: 75%
This weekend last month: 67%
This weekend last year: 68%
Postponed: 10
Withdrawn: 7
Auctions with no result: 242

PS Private Sales: 424

Total Volume (Auctions): $638.61mil
Total Volume (Private Sales): $233.31mil

Total Auctions Houses: 720
Clearance Rate: 73%
Median Price: $755,000
Total Value: $443,958,348

Total Auctions Flats/Apartments: 465
Clearance Rate: 66%
Median Price: $555,000
Total Value: $188,899,321

Total Auctions Vacant Land: 15
Clearance Rate: 60%
Median Price: $733,000
Total Value: $5,750,000

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