This article is from the Australian Property Journal archive
Residential property auctions across most capital cities have continued to weaken, according to Australian Property Monitors’ Home Price Guide.
According to the Home Price Guide, Melbourne was the only city to buck the trend of falling property listings and sales.
Last Saturday, Sydney’s auction market looked to have picked up after reporting a higher auction clearance rate. However, as the Home Price Guide suggest, this was due to fewer properties listing for auction and at the same time the number of property sales remaining relatively similar to a week earlier.
A total 384 properties were auctioned and 162 were sold last Saturday, resulting in a clearance rate of 47.5% – compared to 401 auctions and 170 sales a week earlier and clearance rate of 44.5%.
Last Saturday, the total value of properties sold was $117.3 million.
In Melbourne, the auction clearance rate fell behind its recorded figure in the previous week, as a result of a rise in the number of properties auctioned.
A total of 754 properties went under the hammer and 436 were sold, resulting in a clearance rate of 61.2%.
The total value of properties sold was $201.6 million.
In Adelaide, there were 52 property auctions and 24 sales, resulting in a clearance rate of 61.5%.
The total value of properties sold was $7.8 million.
The auction market result in Brisbane was similar to that of Sydney, where the auction clearance rate was artificially boosted to 63.3% as a result of the number of properties going under the hammer.
The only factor distinguishing Brisbane from Sydney was that Brisbane actually reported a rise in sales last Saturday.
A total of 40 properties were auctioned and 19 were sold. The total value of properties sold was $10.6 million.
By Kathryn O’Meara
Home Price Guide® Auction Results – SYDNEY SUMMARY
|
|
This Saturday
9 Dec 2006 |
Last Saturday
2 Dec 2006 |
This Saturday Last Year
10 Dec 2005 |
|
Total Listed for auction
|
384
|
401
|
338
|
|
Withdrawn
|
37
|
54
|
46
|
|
Unreported to date
|
43
|
19
|
41
|
|
|
|
||
|
Number Reported Auctioned
|
304
|
328
|
251
|
|
Number Passed in
|
139
|
156
|
128
|
|
Sold Prior
|
46
|
41
|
33
|
|
Sold Under the hammer
|
116
|
129
|
88
|
|
Total Number sold
|
162
|
170
|
121
|
|
Total Dollar value sold
|
$117.3M
|
$124.8M
|
$89.8M
|
|
Sold After
|
4
|
3
|
3
|
|
|
|
||
|
Clearance Rate
|
47.5%
|
44.5%
|
40.7%
|
52 Week hi – 63%
52 Week low – 43%
52 Week low – 43%
Dearest:
29 Vaucluse Rd, Vaucluse. 6 br house. Raine & Horne Double Bay $6,875,000
29 Vaucluse Rd, Vaucluse. 6 br house. Raine & Horne Double Bay $6,875,000
Cheapest:
120 Wilkes Cr, Tregear. 3 br house. Raine & Horne St Marys $171,000
120 Wilkes Cr, Tregear. 3 br house. Raine & Horne St Marys $171,000
Home Price Guide® Auction Results – MELBOURNE SUMMARY
|
|
This Saturday
2 Dec 2006 |
Last Saturday
25 Nov 2006 |
This Saturday Last Year
3 Dec 2005 |
|
Total Listed for auction
|
754
|
691
|
695
|
|
Withdrawn
|
4
|
5
|
6
|
|
Unreported to date
|
52
|
86
|
251
|
|
|
|
||
|
Number Reported Auctioned
|
698
|
600
|
438
|
|
Number Passed in
|
251
|
174
|
183
|
|
Sold Prior
|
114
|
97
|
87
|
|
Sold Under the hammer
|
322
|
303
|
156
|
|
Total Number sold
|
436
|
400
|
243
|
|
Total Dollar value sold
|
$201.6M
|
$172.2M
|
$100.5M
|
|
Sold After
|
11
|
32
|
15
|
|
|
|
||
|
Clearance Rate
|
62.1%
|
66.1%
|
54.7%
|
52 Week hi – 67%
52 Week low – 49%
52 Week low – 49%
Home Price Guide® Auction Results – ADELAIDE SUMMARY
|
|
This Saturday
9 Dec 2006 |
Last Saturday
2 Dec 2006 |
This Saturday Last Year
10 Dec 2005 |
|
Total Listed for auction
|
52
|
68
|
72
|
|
Withdrawn
|
0
|
0
|
7
|
|
Unreported to date
|
13
|
7
|
10
|
|
|
|
||
|
Number Reported Auctioned
|
39
|
61
|
55
|
|
Number Passed in
|
15
|
17
|
24
|
|
Sold Prior
|
5
|
16
|
7
|
|
Sold Under the hammer
|
19
|
27
|
22
|
|
Total Number sold
|
24
|
43
|
29
|
|
Total Dollar value sold
|
$7.8M
|
$15.4M
|
$10.1M
|
|
Sold After
|
0
|
1
|
2
|
|
|
|
||
|
Clearance Rate
|
61.5%
|
70.5%
|
46.8%
|
52 Week hi – 72%
52 Week low – 0%
52 Week low – 0%
Dearest:
40 Allendale Gr, Stonyfell. 4 br house. Elders City Plus $720,000
40 Allendale Gr, Stonyfell. 4 br house. Elders City Plus $720,000
Cheapest:
50 Palm Av, Royal Park. 2 br house. LJ Hooker West Lakes $193,000
50 Palm Av, Royal Park. 2 br house. LJ Hooker West Lakes $193,000
Home Price Guide® Auction Results – BRISBANE SUMMARY
|
|
This Saturday
9 Dec 2006 |
Last Saturday
2 Dec 2006 |
This Saturday Last Year
10 Dec 2005 |
|
Total Listed for auction
|
40
|
49
|
90
|
|
Withdrawn
|
2
|
1
|
7
|
|
Unreported to date
|
10
|
5
|
28
|
|
|
|
||
