Auction clearance rate fall under 50%

RESIDENTIAL property auction clearance rates fell over the weekend and Sydney the rate was below 50%.

According to Australian Property Monitors’ Home Price guide, Sydney auctioned 292 properties last Saturday and sold 168 resulting in a clearance rate of 49.9%.

 

The total value of properties sold was $131.5 million. The most expensive property sold was a four bedroom house in Annandale for $1.94 million.

 

Melbourne’s market also faltered last Saturday, the auction clearance rate fell below 70%.

 

Melbourne real estate agents auctioned 709 properties and sold 490, resulting in a clearance rate of 67.7%. The total value of properties sold was $237.5 million, and the most expensive property sold was a six bedroom house in Toorak for $3.2 million.

 

Australian Property Journal

 

Home Price Guide® Auction Results – SYDNEY SUMMARY

	This Saturday 8 Mar 2008	Last Saturday 1 Mar 2008	This Saturday Last Year 10 Mar 2007
Total Listed for auction	376	385	309
Withdrawn	45	51	29
Unreported to date	39	11	16
Number Reported Auctioned	292	323	264
Number Passed in	124	126	85
Sold Prior	62	74	42
Sold Under the hammer	106	120	135
Total Number sold	168	194	177
Total Dollar value sold	$131.5M	$148.1M	$140.6M
Sold After	0	4	2
Clearance Rate	49.9%	51.9%	60.4%

52 Week hi – 69%
52 Week low – 0%

Dearest:
321 Annandale St, Annandale. 4 br house. Ray White Annandale $1,940,000

Cheapest:
1007/34 Wentworth St, Glebe. studio. First National Garry White Glebe $185,000

 

Home Price Guide® Auction Results – MELBOURNE SUMMARY

	This Saturday 1 Mar 2008	Last Saturday 23 Feb 2008	This Saturday Last Year 3 Mar 2007
Total Listed for auction	921	1093	731
Withdrawn	15	22	5
Unreported to date	197	187	56
Number Reported Auctioned	709	884	670
Number Passed in	215	244	135
Sold Prior	133	172	127
Sold Under the hammer	357	462	401
Total Number sold	490	634	528
Total Dollar value sold	$237.5M	$349.7M	$248.5M
Sold After	7	13	8
Clearance Rate	67.7%	70.0%	78.2%

52 Week hi – 90%
52 Week low – 0%

Dearest:
18 Moonga Rd, Toorak. 6 br house. Kay & Burton $3,200,000

Cheapest:
1210/570 Lygon St, Carlton. 1 br unit. Hocking Stuart Carlton $145,000

 

Home Price Guide® Auction Results – ADELAIDE SUMMARY

	This Saturday 8 Mar 2008	Last Saturday 1 Mar 2008	This Saturday Last Year 10 Mar 2007
Total Listed for auction	42	77	42
Withdrawn	1	0	1
Unreported to date	24	2	1
Number Reported Auctioned	17	75	40
Number Passed in	7	22	12
Sold Prior	3	13	8
Sold Under the hammer	7	40	18
Total Number sold	10	53	26
Total Dollar value sold	$6.2M	$22.8M	$11.2M
Sold After	1	1	2
Clearance Rate	55.6%	70.7%	63.4%

52 Week hi – 87%
52 Week low – 0%

Dearest:
3 Fernleigh Av, Beaumont. 3 br house. Klemich Real Estate $827,000

Cheapest:
19 Surf St, South Brighton. 3 br house. Ray White Real Estate Brighton $450,000

 

Home Price Guide® Auction Results – BRISBANE SUMMARY

	This Saturday 8 Mar 2008	Last Saturday 1 Mar 2008	This Saturday Last Year 10 Mar 2007
Total Listed for auction	92	78	28
Withdrawn	8	2	0
Unreported to date	21	7	3
Number Reported Auctioned	63	69	25
Number Passed in	32	33	12
Sold Prior	13	15	7
Sold Under the hammer	18	20	6
Total Number sold	31	35	13
Total Dollar value sold	$16.7M	$20.4M	$7.0M
Sold After	1	1	0
Clearance Rate	43.7%	49.3%	52.0%

52 Week hi – 83%
52 Week low – 0%

Dearest:
70 Welsby St, New Farm. 4 br house. Adcock Prestige $2,400,000

Cheapest:
14 MacBeth St, Kingston. 2 br house. LJ Hooker Logan City $235,000

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.