Auctions get back into the groove

THE residential property auction is finally getting back into the groove last Saturday, according to Australian Property Monitors' Home Price Guide.

According to the Home Price Guide, Sydney auctioned 126 properties and sold 68, resulting in a clearance rate of 57.6%.

 

The total value of properties sold was $45.4 million and the most expensive property sold was a four bedroom house in Annandale for $1.5 million.

 

Melbourne’s had 121 properties go under the hammer and 75 were sold, resulting in a clearance rate 68.8%.

 

The total value of properties sold was $33.2 million and a three bedroom house in Balwyn was the dearest property sold on the weekend, for $1.1 million.

 

Meanwhile, Adelaide auctioned 52 properties and 22 were sold, totalling $12.5 million.

 

Brisbane had 49 auction listings and 19 sales, totalling $12.1 million.

 

Australian Property Journal

 

Home Price Guide® Auction Results – SYDNEY SUMMARY

	This Saturday 9 Feb 2008	Last Saturday 2 Feb 2008	This Saturday Last Year 10 Feb 2007
Total Listed for auction	126	82	114
Withdrawn	5	6	10
Unreported to date	8	10	7
Number Reported Auctioned	113	66	97
Number Passed in	45	27	41
Sold Prior	20	7	11
Sold Under the hammer	48	31	43
Total Number sold	68	38	54
Total Dollar value sold	$45.4M	$22.5M	$28.9M
Sold After	0	1	2
Clearance Rate	57.6%	52.8%	50.5%

52 Week hi – 69%
52 Week low – 0%

Dearest:
144 Young St, Annandale. 4 br house. Sarah Lorden Real Estate $1,500,000

Cheapest:
5/39 Yerrick Rd, Lakemba. 2 br unit. Professionals Punchbowl $153,500

 

Home Price Guide® Auction Results – MELBOURNE SUMMARY

	This Saturday 2 Feb 2008	Last Saturday 26 Jan 2008	This Saturday Last Year 3 Feb 2007
Total Listed for auction	121	29	133
Withdrawn	8	1	4
Unreported to date	12	1	21
Number Reported Auctioned	101	27	108
Number Passed in	24	13	29
Sold Prior	36	6	24
Sold Under the hammer	39	8	44
Total Number sold	75	14	68
Total Dollar value sold	$33.2M	$6.9M	$19.2M
Sold After	4	0	14
Clearance Rate	68.8%	50.0%	60.7%

52 Week hi – 90%
52 Week low – 0%

Dearest:
16 Hertford Cr, Balwyn. 3 br house. Noel Jones Real Estate Balwyn $1,105,000

Cheapest:
9/39-41 Milan St, Mentone. 1 br unit. R Malcolm Mentone $255,000

 

Home Price Guide® Auction Results – ADELAIDE SUMMARY

	This Saturday 9 Feb 2008	Last Saturday 2 Feb 2008	This Saturday Last Year 10 Feb 2007
Total Listed for auction	52	55	36
Withdrawn	1	1	0
Unreported to date	13	4	1
Number Reported Auctioned	38	50	35
Number Passed in	15	15	6
Sold Prior	4	9	10
Sold Under the hammer	18	23	17
Total Number sold	22	32	27
Total Dollar value sold	$12.5M	$15.6M	$11.1M
Sold After	1	3	2
Clearance Rate	56.4%	62.7%	77.1%

52 Week hi – 88%
52 Week low – 0%

Dearest:
118 Esplanade , Brighton. 4 br house. Brenton Ward Real Estate $2,275,000

Cheapest:
6 Walter St, Elizabeth Downs. 3 br house. Ray White Real Estate Salisbury $220,000

 

Home Price Guide® Auction Results – BRISBANE SUMMARY

	This Saturday 9 Feb 2008	Last Saturday 2 Feb 2008	This Saturday Last Year 10 Feb 2007
Total Listed for auction	49	37	42
Withdrawn	2	2	2
Unreported to date	10	0	1
Number Reported Auctioned	37	35	39
Number Passed in	18	21	13
Sold Prior	6	3	11
Sold Under the hammer	13	11	14
Total Number sold	19	14	25
Total Dollar value sold	$12.1M	$10.3M	$12.1M
Sold After	2	1	1
Clearance Rate	48.7%	37.8%	61.0%

52 Week hi – 83%
52 Week low – 0%

Dearest:
22 Leigh St, Coorparoo. 4 br house. Harcourts Bulimba $987,500

Cheapest:
182 Mount Warren Bvd, Mount Warren Park. 3 br house. PRDnationwide Beenleigh $330,000

 

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.