Sydney smashes 52-week auction record

SYDNEY's residential auction property market continued to perform strongly, according to Australian Property Monitors' Home Price Guide.

Last Saturday, there were 317 property listings and 206 sales in Sydney, resulting in a clearance rate of 68.9%. The total value of properties sold was $144.7 million.

 

Compared to Sydney a year ago, a mere 171 properties went under the hammer and 80 were sold totalling $63 million.

 

Sydney’s most expensive property sold last Saturday was a four bedroom house in Collaroy for $2.67 million.

 

Meanwhile, roaring sales in Melbourne shows no sign of abating.

 

Melbourne sold almost 40% more properties last Saturday, when compared to the same time last year.

 

Last Saturday, 566 properties were auctioned and 322 were sold, resulting in a clearance rate of 77.1%. The total value of properties sold was $194.2 million.

 

Surprisingly a property outside Melbourne’s inner and bayside suburbs did not record the most expensive property sale.

 

Instead, a four bedroom house in Mount Eliza sold for $2.4 million.

 

Adelaide reported 49 property auctions and 29 sales, resulting in a clearance rate of 76.3%. The total value of properties sold was $12.8 million.

 

Brisbane reported 48 auctions and 18 sales, resulting in a clearance rate of 58.1%. The total value of properties sold was $10.6 million.

 

Australian Property Journal

 

Home Price Guide® Auction Results – SYDNEY SUMMARY

	This Saturday 5 May 2007	Last Saturday 28 Apr 2007	This Saturday Last Year 6 May 2006
Total Listed for auction	317	273	171
Withdrawn	20	23	26
Unreported to date	18	12	8
Number Reported Auctioned	279	238	137
Number Passed in	71	84	56
Sold Prior	66	53	23
Sold Under the hammer	140	101	57
Total Number sold	206	154	80
Total Dollar value sold	$144.7M	$110.4M	$63.0M
Sold After	2	0	2
Clearance Rate	68.9%	59.0%	49.1%

52 Week hi – 69%
52 Week low – 44%

Dearest:
1158 Pittwater Rd, Collaroy. 4 br house. McGrath Estate Agents $2,675,000

Cheapest:
4/7-9 Forbes St, Warwick Farm. 2 br unit. Raine & Horne Liverpool $138,000

 

Home Price Guide® Auction Results – MELBOURNE SUMMARY

	This Saturday 28 Apr 2007	Last Saturday 21 Apr 2007	This Saturday Last Year 29 Apr 2006
Total Listed for auction	566	589	686
Withdrawn	12	9	8
Unreported to date	24	56	269
Number Reported Auctioned	530	524	409
Number Passed in	107	104	151
Sold Prior	96	119	71
Sold Under the hammer	322	297	176
Total Number sold	418	416	247
Total Dollar value sold	$194.2M	$189.5M	$96.0M
Sold After	6	9	13
Clearance Rate	77.1%	78.0%	59.2%

52 Week hi – 80%
52 Week low – 49%

Dearest:
1210 Nepean Hwy, Mount Eliza. 4 br house. David Rew Real Estate Mt Eliza $2,400,000

Cheapest:
13/70 Queensberry Pl, Carlton. unit. Woodards $117,000

 

Home Price Guide® Auction Results – ADELAIDE SUMMARY

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	This Saturday 5 May 2007	Last Saturday 28 Apr 2007	This Saturday Last Year 6 May 2006
Total Listed for auction	49	24	39
Withdrawn	2	1	1
Unreported to date	11	0	4
Number Reported Auctioned	36	23	34
Number Passed in	7	4	14
Sold Prior	5	9	4
Sold Under the hammer	24	10	16
Total Number sold	29	19	20
Total Dollar value sold	$12.8M	$8.5M	$6.6M
Sold After