Auction clearance rates low

RESIDENTIAL property auction rates fell further in Sydney last Saturday whilst staying flat in Melbourne, according to Australian Property Monitors' Home Price Guide.

On the weekend, Sydney recorded a 40% clearance rate down from 45.2% a week earlier. Sydney auctioned 217 properties and 100 were sold totalling $62.5 million.

 

In Melbourne, 194 properties were auctioned and 109 were sold resulting in a clearance rate of 54.8%. The total value of properties sold was $48.5 million.

 

Adelaide auctioned 35 properties and sold 18 totalling $5.5 million.

 

Brisbane auctioned 60 properties and sold 22 totalling $8.6 million.

 

Australian Property Journal

 

Home Price Guide® Auction Results – SYDNEY SUMMARY

	This Saturday 26 Jul 2008	Last Saturday 19 Jul 2008	This Saturday Last Year 28 Jul 2007
Total Listed for auction	293	223	257
Withdrawn	33	22	24
Unreported to date	43	6	7
Number Reported Auctioned	217	195	226
Number Passed in	114	92	67
Sold Prior	34	36	44
Sold Under the hammer	66	62	115
Total Number sold	100	98	159
Total Dollar value sold	$62.5M	$59.2M	$117.2M
Sold After	4	5	2
Clearance Rate	40.0%	45.2%	63.6%

52 Week hi – 69%
52 Week low – 40%

Dearest:
11-17 Centennial Ct, Mount Vernon. 7 br house. Country Lane Properties $2,500,000

Cheapest:
Lot 19 Cogra Bay, Cogra Bay. other residential. Moxhams Real Estate $90,000

 

Home Price Guide® Auction Results – MELBOURNE SUMMARY

	This Saturday 26 Jul 2008	Last Saturday 19 Jul 2008	This Saturday Last Year 28 Jul 2007
Total Listed for auction	460	481	608
Withdrawn	5	9	9
Unreported to date	261	43	21
Number Reported Auctioned	194	429	578
Number Passed in	78	174	92
Sold Prior	30	59	101
Sold Under the hammer	79	188	377
Total Number sold	109	247	478
Total Dollar value sold	$48.5M	$106.3M	$254.3M
Sold After	7	11	21
Clearance Rate	54.8%	56.4%	81.4%

52 Week hi – 90%
52 Week low – 40%

Dearest:
12a Menzies Av, Brighton. 4 br house. Buxton Brighton $1,750,000

Cheapest:
2/64 Eldorado Cr, Meadow Heights. 3 br unit. YPA Estate Agents Meadow Heights $95,050

 

Home Price Guide® Auction Results – ADELAIDE SUMMARY

	This Saturday 26 Jul 2008	Last Saturday 19 Jul 2008	This Saturday Last Year 28 Jul 2007
Total Listed for auction	49	35	72
Withdrawn	4	1	0
Unreported to date	10	5	4
Number Reported Auctioned	35	29	68
Number Passed in	17	20	15
Sold Prior	5	3	11
Sold Under the hammer	13	6	40
Total Number sold	18	9	51
Total Dollar value sold	$5.5M	$3.6M	$20.9M
Sold After	0	1	2
Clearance Rate	46.2%	30.0%	75.0%

52 Week hi – 100%
52 Week low – 28%

Dearest:
7 Ellesmere St, Kensington Park. 5 br house. Century 21 The Bay Glenelg $803,500

Cheapest:
2 Torrens St, Torrensville. 2 br house. Ray White Mile End $329,000

 

Home Price Guide® Auction Results – BRISBANE SUMMARY

	This Saturday 26 Jul 2008	Last Saturday 19 Jul 2008	This Saturday Last Year 28 Jul 2007
Total Listed for auction	83	62	46
Withdrawn	6	3	3
Unreported to date	17	2	1
Number Reported Auctioned	60	57	42
Number Passed in	38	37	18
Sold Prior	5	8	8
Sold Under the hammer	17	11	16
Total Number sold	22	19	24
Total Dollar value sold	$8.6M	$10.1M	$14.3M
Sold After	2	2	0
Clearance Rate	33.3%	31.7%	53.3%

52 Week hi – 66%
52 Week low – 0%

Dearest:
80 Wivenhoe Cct, Forest Lake. 4 br house. Harcourts Forest Lake $920,000

Cheapest:
5 Bluegum Ct, Kingston. 3 br house. Ray White Real Estate Logan City $224,000

 

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.