Strongest three weeks in four years
2015-04-21
For the first time since 2010 there were three consecutive weeks with a clearance rate of more than 70 per cent.
On Saturday there was a clearance rate of 77.1 per cent, slightly down from last week's year-high 79.1 per cent but well ahead of last year. The current four weekend metro average is 77.4 per cent. Listings have risen in tandem with clearance rates over the past month with 842 auctions at the weekend compared to 715 last week.
The north east had the highest clearance rate at 86.4 per cent with 70 sales from 81 reported auctions. Notable sales in the north east reported at the weekend included a four-bedroom home at 25 Langs Road, Ivanhoe, sold by Miles Real Estate for $1,631,000; another four-bedroom home at19 Brooke Street, Northcote, sold for $1.55 million by Hocking Stuart, a four-bedroom home at10 Tower Avenue, Alphington, sold for $1,322,000 by Jellis Craig and a three-bedroom home at29 Waterdale Road, Ivanhoe, sold by Nelson Alexander for $1,275,000.
The most expensive property reported sold at auction at the weekend was a four-bedroom home at 38 Davis Avenue, South Yarra, sold for $2,955,000 by Kay and Burton. The most affordable property reported sold at the weekend was a two-bedroom home at 2A Hermione Terrace, Epping, for $220,000 by Harcourts.
Latest ABS home loan data confirms the strength of the Melbourne housing market with the value of housing finance approved in Victoria up by 5.3 per cent over July to be 19.2 per cent higher over the first seven months of this year compared to the same period a year ago. Some $6.4 billion in finance for home sales was approved over July in Victoria which is an all-time monthly record.
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