Auctions getting a slow start

THE residential auction market is off to a slow start, according to Australian Property Monitors' Home Price Guide.

According to the Home Price Guide, Sydney picked up its pace after minimal activity in the Australia Day weekend a week earlier.

 

Meanwhile, Melbourne’s market has failed to pick up compared to a week earlier.

 

Last Saturday, Sydney had 77 auction listings and 36 sales totalling $22.4 million. The most expensive property sold was a four bedroom house in Strathfield for $960,000.

 

Melbourne had just 29 listings and 14 sales, totalling $6.9 million. But it did record a million dollar plus sale as its most expensive property sold. A two bedroom house in Portsea fetched $1.9 million.

 

Adelaide outperformed Melbourne, with 54 listings and 29 sales totalling $13.4 million and a four bedroom house in Springfield was the most expensive property sold at $1.31 million.

 

Finally Brisbane had 35 listings and no sales on the weekend.

 

Australian Property Journal

 

Home Price Guide® Auction Results – SYDNEY SUMMARY

	This Saturday 2 Feb 2008	Last Saturday 26 Jan 2008	This Saturday Last Year 3 Feb 2007
Total Listed for auction	77	5	67
Withdrawn	5	1	6
Unreported to date	13	0	3
Number Reported Auctioned	59	4	58
Number Passed in	22	4	29
Sold Prior	6	0	3
Sold Under the hammer	30	0	26
Total Number sold	36	0	29
Total Dollar value sold	$22.4M	$0.0M	$14.0M
Sold After	1	0	0
Clearance Rate	56.3%	0.0%	45.3%

52 Week hi – 69%
52 Week low – 0%

Dearest:
156 Homebush Rd, Strathfield. 4 br house. Devine Real Estate $960,000

Cheapest:
5/118 Wattle Av, Carramar. 2 br unit. Laing & Simmons Cabramatta $158,000

 

Home Price Guide® Auction Results – MELBOURNE SUMMARY

	This Saturday 26 Jan 2008	Last Saturday 19 Jan 2008	This Saturday Last Year 27 Jan 2007
Total Listed for auction	29	28	55
Withdrawn	1	0	0
Unreported to date	1	3	6
Number Reported Auctioned	27	25	49
Number Passed in	13	6	16
Sold Prior	6	8	10
Sold Under the hammer	8	11	14
Total Number sold	14	19	24
Total Dollar value sold	$6.9M	$7.2M	$15.6M
Sold After	0	1	9
Clearance Rate	50.0%	76.0%	49.0%

52 Week hi – 90%
52 Week low – 0%

Dearest:
177-181 Franklin Rd, Portsea. 2 br house. RT Edgar Portsea $1,900,000

Cheapest:
119 Barries Rd, Melton. 3 br house. Stockdale & Leggo Real Estate Melton $174,000

 

Home Price Guide® Auction Results – ADELAIDE SUMMARY

	This Saturday 2 Feb 2008	Last Saturday 26 Jan 2008	This Saturday Last Year 3 Feb 2007
Total Listed for auction	54	17	39
Withdrawn	1	1	0
Unreported to date	10	2	6
Number Reported Auctioned	43	14	33
Number Passed in	12	4	11
Sold Prior	9	1	9
Sold Under the hammer	20	8	12
Total Number sold	29	9	21
Total Dollar value sold	$13.4M	$4.2M	$7.7M
Sold After	2	1	1
Clearance Rate	65.9%	60.0%	63.6%

52 Week hi – 88%
52 Week low – 0%

Dearest:
17 Coreega Av, Springfield. 4 br house. Ray White Real Estate Colonel Light Gardens $1,310,000

Cheapest:
6/17 Mary St, Unley. 2 br house. Brock Harcourts Adelaide $232,500

 

Home Price Guide® Auction Results – BRISBANE SUMMARY

	This Saturday 2 Feb 2008	Last Saturday 26 Jan 2008	This Saturday Last Year 3 Feb 2007
Total Listed for auction	35	3	26
Withdrawn	0	0	0
Unreported to date	35	0	4
Number Reported Auctioned	0	3	22
Number Passed in	0	2	7
Sold Prior	0	1	2
Sold Under the hammer	0	0	12
Total Number sold	0	1	14
Total Dollar value sold	$0.0M	$0.5M	$6.2M
Sold After	0	0	1
Clearance Rate	0.0%	33.3%	63.6%

52 Week hi – 83%
52 Week low – 0%

Note: The Clearance Rate is the percentage of properties sold under the hammer or prior to auction compared to the total number of reported auctions plus properties withdrawn from auction.

 

Source: www.homepriceguide.com.au. Copyright Australian Property Monitors 2008.