Sydney clearance rates pick up

SYDNEY's residential auction market scored two feats on weekend, according to Australian Property Monitors' Home Price Guide.

The clearance rate was higher even though more properties were listed last Saturday and there were more sales than the same time a year ago.

 

Sydney reported 286 auctions and 184 sales resulting in a clearance rate of 55.6%, which is an increase from a week ago when 252 were auctioned and 137 were sold. The same time a year ago, there were 262 auctions and 175 sales.

 

The total value of properties sold also rose to $129.3 million from $105.6 million. But it was below last year’s $139.4 million. The most expensive sale was a four bedroom house in Killara for $2.5 million and cheapest was a two bedroom unit in Fairfield for $172,000.

 

Meanwhile in Melbourne, the AFL Grand Final meant only a few were in the mood to sell or buy property on Saturday.

 

So there were just eight auctions and a handful of five sales totalling $2.2 million. A five bedroom house in Month Albert North was the most expensive sale, fetching $785,000 whilst a one bedroom unit in Brunswick going under the hammer for $250,000 was the cheapest.

 

Melbourne’s is expected to bounce back next Saturday with a backlog of properties which were held back during last weekend.

 

Another footy mad city, Adelaide also managed just eight listings and three sales totalling $300,000.

 

Finally, Brisbane had 42 listings and 11 sales totalling $4.9 million. A four bedroom house in Wooloowin fetched the weekend’s highest price at $1.55 million and cheapest went to a land site in Acacia Ridge for $265,000.

 

Propertyreview.com.au

 

Home Price Guide® Auction Results – SYDNEY SUMMARY

	This Saturday 27 Sep 2008	Last Saturday 20 Sep 2008	This Saturday Last Year 29 Sep 2007
Total Listed for auction	377	302	301
Withdrawn	45	43	31
Unreported to date	46	7	8
Number Reported Auctioned	286	252	262
Number Passed in	97	109	86
Sold Prior	62	44	59
Sold Under the hammer	122	93	116
Total Number sold	184	137	175
Total Dollar value sold	$129.3M	$105.6M	$139.4M
Sold After	5	7	1
Clearance Rate	55.6%	46.4%	59.7%

52 Week hi – 66%
52 Week low – 40%

Dearest:
40 Greengate Rd, Killara. 4 br house. First National Northlink Killara $2,500,000

Cheapest:
18/412-416 The Horsley Drive , Fairfield. 2 br unit. First National Orrego Fairfield $172,000

 

Home Price Guide® Auction Results – MELBOURNE SUMMARY

	This Saturday 27 Sep 2008	Last Saturday 20 Sep 2008	This Saturday Last Year 29 Sep 2007
Total Listed for auction	23	636	37
Withdrawn	0	11	0
Unreported to date	15	46	15
Number Reported Auctioned	8	579	22
Number Passed in	3	241	2
Sold Prior	1	70	7
Sold Under the hammer	4	261	13
Total Number sold	5	331	20
Total Dollar value sold	$2.2M	$159.5M	$8.6M
Sold After	0	19	0
Clearance Rate	62.5%	56.1%	90.9%

52 Week hi – 90%
52 Week low – 40%

Dearest:
52 Melrose St, Mont Albert North. 5 br house. Peter Markovic Real Estate Fitzroy $785,000

Cheapest:
7/1 Pottery Ct, Brunswick. 1 br unit. Hocking Stuart Brunswick $250,000

 

Home Price Guide® Auction Results – ADELAIDE SUMMARY

	This Saturday 27 Sep 2008	Last Saturday 20 Sep 2008	This Saturday Last Year 29 Sep 2007
Total Listed for auction	10	32	21
Withdrawn	1	4	0
Unreported to date	1	1	3
Number Reported Auctioned	8	27	18
Number Passed in	5	16	4
Sold Prior	2	1	4
Sold Under the hammer	1	10	10
Total Number sold	3	11	14
Total Dollar value sold	$0.3M	$5.2M	$4.8M
Sold After	0	0	0
Clearance Rate	33.3%	35.5%	77.8%

52 Week hi – 100%
52 Week low – 11%

Dearest:
1/41 Edward St, Daw Park. 2 br unit. Phil McMahon Glenelg $310,000

 

Home Price Guide® Auction Results – BRISBANE SUMMARY

	This Saturday 27 Sep 2008	Last Saturday 20 Sep 2008	This Saturday Last Year 29 Sep 2007
Total Listed for auction	62	63	53
Withdrawn	1	6	0
Unreported to date	19	6	3
Number Reported Auctioned	42	51	50
Number Passed in	30	32	24
Sold Prior	4	8	5
Sold Under the hammer	7	10	19
Total Number sold	11	18	24
Total Dollar value sold	$4.9M	$6.2M	$14.2M
Sold After	2	3	2
Clearance Rate	25.6%	31.6%	48.0%

52 Week hi – 66%
52 Week low – 0%

Dearest:
15 Woombye St, Wooloowin. 4 br house. RE/MAX Home Centre $1,550,000

Cheapest:
209 Postle St, Acacia Ridge. land. Ray White Moorooka $265,000

 

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.