Melbourne Auction Results – November 23rd, 2015

By Peter Sarmas on 23 Nov 2015
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Melbourne Auction Results 23rd November 2015

67%
Clearance
Rate

1172
Reported
Auctions

Sold at Auction: 641 Auction Volumes: $667.4m
Passed in: 392 Last Weekend: 1453
Sold Before: 138 Last Year: 1230
Sold After: 1 Houses: 69%
    Units: 62%

 

Auction Numbers To Be Highest On Record

A clearance rate of 67 per cent was recorded this weekend compared to 69 per cent last weekend and 65 per cent this weekend last year. There were 1172 auctions reported to the REIV this weekend, with 780 selling and 392 being passed in, 153 of those on a vendor bid. 

Next weekend is expected to be one of the highest on record, with around 1,750 auctions scheduled.

Private Sector Wage Growth The Lowest On Record

Martin North of Digital Finance Analytics reports – According to the ABS, the seasonally adjusted Wage Price Index (WPI) rose 0.6 per cent in the September quarter 2015 and 2.3 per cent over the last year, according to figures recently released. It is an all time record low for the Private sector, though Government servants are doing rather better. This data underscores the continued pressure on rentals from investment properties, because rentals are more linked to income than house prices.

In the September quarter 2015, Private sector wages grew 0.5 per cent and Public sector wages grew 0.7 per cent (seasonally adjusted).

Private sector seasonally adjusted wage growth of 2.1 per cent over the last year is the lowest rate of wages growth since the start of the WPI series. The through-the-year series was first published in September quarter 1998.

In the Public sector, wages grew 2.7 per cent over the last year.

In the September quarter, the largest rise (original series) of all industries is 1.6 per cent in Accommodation and food services. Finance and insurance services had the smallest rise of 0.2 per cent.

 

Rents On The Rise In Regional Victoria

It has been a good year for property investors with rental growth recorded across regional Victoria in the 12 months to the end of September.

New REIV data shows the largest rental increase were for two-bedroom homes, up 3.9 per cent over the year to a weekly median rental of $250. Rental growth was also seen for one-bedroom units, up 3.2 per cent to $165 per week, and four-bedroom homes, up 2.9 per cent to $360.

Rents On The Rise In Regional Victoria.

Source: www.visitmelbourneblog.com

Find out in this report from REIV, the top regional growth areas and the state’s strongest performers.

 

TOP 5 HOUSES

1. 66 Gordon Street, Balwyn $4,880,000
2. 28 Cosham Street, Brighton $3,925,000
3. 16 Belmont Avenue, Kew $3,905,000
4. 6 Black Street, Brighton $3,675,000
5. 12 Angle Road, Deepdene $3,410,000

TOP 5 BARGAIN HOUSES

1. 20 Wyuna Street, Rosebud West $275,000
2. 28 Paroo Avenue, Roxburgh Park $342,000
3. 27 Warne Street, Coolaroo $346,000
4. 5 Mitford Crescent, Craigieburn $348,000
5. 11 Gander Street, Doreen $350,000

TOP 5 APARTMENTS

1. 217-219 Dryburgh Street, North Melbourne $2,370,000
2. 2306/229 Toorak Road, South Yarra $1,550,000
3. 2A Bayview Street, Elsternwick $1,500,000
4. 4 Clapham Street, Balwyn $1,473,000
5. 1/32 Bogong Avenue, Glen Waverley $1,420,000

TOP 5 BARGAIN APARTMENTS

1. 9/73 Kingsville Street, Kingsville $228,000
2. 5/243 Murrumbeena Road, Murrumbeena $249,000
3. 15/745 Barkly Street, West Footscray $265,000
4. 7/55 Pender Street, Thornbury $280,500
5. 3/1 Mattea Court, Reservoir $281,000

Source: REIV

 

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For a basic snapshot of your suburb’s performance or a property report customised for your property, request a Free Market Report.

If you are thinking of buying, selling or investing and would like a FREE 5 minute chat with Street News Director Peter Sarmas, please contact him on 0418 740 606 
or via email at [email protected]

About the Author

Peter Sarmas is a Certified Property Investment Advisor (PIAA) and Vendor/Buyer Advocate. Before becoming the founder of Street News, Peter completed a Degree in Applied Science (Chemistry) and a Graduate Diploma in Property Valuations (Hons). Peter believes property investing is a major and potentially risky undertaking. In his view, everyone should have an independent person acting on their behalf when seeking property investment advice.

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