This weekend’s auction recorded a clearance rate of 77 percent, similar to last weekend. A total of 502 auctions were reported to the Real Estate Institute of Victoria (REIV) with 387 selling and 115 being passed in. Of the total passed in, 45 were on a vendor bid. The total number of auctions was also lower by 45 compared to last weekend’s figure.
Meanwhile, 74 properties were sold prior to auction, 312 were sold during auction and one after auction.
The number of private sales recorded was 375 with a total volume of $218.54 million while a total of 173 flats/apartments were auctioned with a median price of $580,000. For vacant land, 14 were auctioned this weekend with a median price of $318,750.
The number of auctions is expected to go up with an average of 750 auctions in each of the next two weekends.
50 Walter Street Ascot Vale
Aaron Leask was the auctioneer from Hodges Real Estate Ascot Vale.
On a freezing Melbourne winter day there were 2 bidders vying for the property. The property was passed in to one buyer at $1,070,000 just before the heavens opened. The property is now for private sale, asking $1,190,000.
Auctioneer Puts In 5 Vendor Bids
31 Doncaster Street Ascot Vale
Richard Rendina from Rendina real estate was auctioning this converted warehouse in Ascot Vale. Quoting “high $700Ks to mid $800Ks” the property opened on a genunine bid of $650,000. The auctioneer then placed his first of five vendor bids. After going inside to seek instructions twice, the auctioneer emerged to declare the property on the market to the one interested party, who had offered a genuine bid of $860,000.
5/17 Gedddes Street Ascot Vale
Peter Gibson presided over the auction for McLeod Real Estate and Finance on a chilly Melbourne morning. Quoting a recent sale of $605K as a benchmark, two bidders were quick to join in the action and tussled it out for the keys. A young family were the happy new owners, paying $622,000.
Looking to buy in Melbourne and sick of missing out at auction? Talk to me about how I can help you buy your new home faster, for less. Give me a call on 03 9686 2288 to discuss how I can help. I offer a free consultation, so why not call today?
By Wendy Chamberlain
Copyright 2015 | All Rights Reserved
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With a passion for all things real estate spanning 18 years, Wendy loves that her role as a Buyers Advocate gives her buyers an experienced voice they can trust when it comes to negotiating to purchase something as important as their new home or investment. Wendy considers it a privilege to be asked to help others realise such an important goal as home ownership and to be trusted with that honour. Get in touch today via www.FollowWendy.com for a no obligation chat about how Wendy can work with you and help you save time and money to secure your new home sooner.
