Auctions put on a show

THE residential property auctions market showed some improvement on the weekend, according to Australian Property Monitors' Home Price Guide.

Last Saturday in Sydney, whilst the auction clearance rate remains below 50% – it edged up slightly.

 

The city auctioned 289 properties and 173 were sold – resulting in a clearance rate of 49.9%. The total value of properties sold was $139.5 million. The most expensive property sold was a three bedroom house in Russell Lea for $4.3 million.

 

But Melbourne saw its clearance rate fall below 60% on the weekend. But that is a result of an increase number of properties for auction.

 

Last Saturday, there were 506 properties auctioned and 309 were sold, resulting in a clearance rate of 59.8%.

 

Melbourne sold $153.3 million worth of properties and a six bedroom house in Mouth Eliza was the dearest property sold at $2.52 million.

 

Australian Property Journal

 

Home Price Guide® Auction Results – SYDNEY SUMMARY

	This Saturday 19 Apr 2008	Last Saturday 12 Apr 2008	This Saturday Last Year 21 Apr 2007
Total Listed for auction	404	290	254
Withdrawn	58	47	16
Unreported to date	57	5	14
Number Reported Auctioned	289	238	224
Number Passed in	112	95	82
Sold Prior	46	52	31
Sold Under the hammer	127	88	109
Total Number sold	173	140	140
Total Dollar value sold	$139.5M	$105.4M	$97.9M
Sold After	5	4	2
Clearance Rate	49.9%	49.1%	58.3%

52 Week hi – 69%
52 Week low – 0%

Dearest:
27 Burnell St, Russell Lea. 3 br house. Ray White Drummoyne $3,220,000

Cheapest:
83/22-28 Great Western Hwy, Parramatta. studio. Ray White Parramatta $145,000

 

Home Price Guide® Auction Results – MELBOURNE SUMMARY

	This Saturday 12 Apr 2008	Last Saturday 5 Apr 2008	This Saturday Last Year 14 Apr 2007
Total Listed for auction	590	551	423
Withdrawn	11	12	8
Unreported to date	73	88	31
Number Reported Auctioned	506	451	384
Number Passed in	188	158	68
Sold Prior	84	73	86
Sold Under the hammer	225	214	222
Total Number sold	309	287	308
Total Dollar value sold	$153.3M	$134.6M	$128.6M
Sold After	9	10	11
Clearance Rate	59.8%	62.0%	78.6%

52 Week hi – 90%
52 Week low – 0%

Dearest:
1 Canadian Bay Rd, Mount Eliza. 6 br house. BennisonMacKinnonCarmichael $2,520,000

Cheapest:
8/1 Grace Park Av, Springvale. 1 br unit. Stockdale & Leggo Dandenong $159,000

 

Home Price Guide® Auction Results – ADELAIDE SUMMARY

	This Saturday 19 Apr 2008	Last Saturday 12 Apr 2008	This Saturday Last Year 21 Apr 2007
Total Listed for auction	64	46	51
Withdrawn	3	1	1
Unreported to date	14	1	1
Number Reported Auctioned	47	44	49
Number Passed in	22	23	11
Sold Prior	7	4	7
Sold Under the hammer	18	17	30
Total Number sold	25	21	37
Total Dollar value sold	$9.1M	$11.6M	$13.2M
Sold After	0	0	1
Clearance Rate	50.0%	46.7%	74.0%

52 Week hi – 100%
52 Week low – 0%

Dearest:
12 Grantley Av, Millswood. 4 br house. Toop & Toop $840,000

Cheapest:
21 Grace Bvd, Smithfield Plains. 4 br house. Wayne Smith First National Real Estate $231,000

 

Home Price Guide® Auction Results – BRISBANE SUMMARY

	This Saturday 19 Apr 2008	Last Saturday 12 Apr 2008	This Saturday Last Year 21 Apr 2007
Total Listed for auction	84	70	44
Withdrawn	6	9	1
Unreported to date	27	2	0
Number Reported Auctioned	51	59	43
Number Passed in	32	34	12
Sold Prior	6	5	10
Sold Under the hammer	13	18	19
Total Number sold	19	23	29
Total Dollar value sold	$10.2M	$12.0M	$11.4M
Sold After	2	2	3
Clearance Rate	33.3%	33.8%	65.9%

52 Week hi – 66%
52 Week low – 0%

Dearest:
51 Lather Rd, Bellbowrie. 4 br house. Adcock Prestige $2,420,000

Cheapest:
29 Cay St, Newtown. 2 br house. Ray White Toowoomba Range $160,000

 

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.