Auctions sales fall under $50m

THE value of properties sold via auction in Melbourne last Saturday has fallen below $50 million, according to Australian Property Monitors' Home Price Guide.

On the weekend, Melbourne had 188 properties auctioned and just 100 were sold totalling $43.9 million. The most expensive property sold was a three bedroom house in St Kilda West for $1.59 million.

 

In Sydney, there were 181 auctions and 104 sales totalling $80.10 million. A development site at Bondi Beach was the most expensive property sold for $4.40 million.

 

Meanwhile in Adelaide, there were 29 auctions and 13 sales totalling $5 million and in Brisbane there were 47 listings and 15 sales totalling $12.2 million.

 

Australian Property Journal

 

Home Price Guide® Auction Results – MELBOURNE SUMMARY

	This Saturday 5 Jul 2008	Last Saturday 28 Jun 2008	This Saturday Last Year 7 Jul 2007
Total Listed for auction	363	505	493
Withdrawn	5	8	8
Unreported to date	170	47	28
Number Reported Auctioned	188	450	457
Number Passed in	84	182	76
Sold Prior	18	61	116
Sold Under the hammer	82	200	259
Total Number sold	100	261	375
Total Dollar value sold	$43.9M	$120.2M	$176.3M
Sold After	4	11	8
Clearance Rate	51.8%	57.0%	80.6%

52 Week hi – 90%
52 Week low – 40%

Dearest:
5a Longmore St, St Kilda West. 3 br house. Barry Plant Port Melbourne $1,590,000

Cheapest:
101 Lorimer St, Crib Point. 4 br house. Roy Satchwell & Company Real Estate $160,000

 

Home Price Guide® Auction Results – SYDNEY SUMMARY

	This Saturday 5 Jul 2008	Last Saturday 28 Jun 2008	This Saturday Last Year 7 Jul 2007
Total Listed for auction	245	343	260
Withdrawn	22	49	13
Unreported to date	42	12	10
Number Reported Auctioned	181	282	237
Number Passed in	74	139	80
Sold Prior	35	45	47
Sold Under the hammer	69	96	110
Total Number sold	104	141	157
Total Dollar value sold	$80.1M	$96.4M	$127.3M
Sold After	3	3	2
Clearance Rate	51.2%	42.6%	62.8%

52 Week hi – 69%
52 Week low – 42%

Dearest:
8 Francis St, Bondi Beach. land. Laing & Simmons Coogee/Clovelly $4,400,000

Cheapest:
6/81 Memorial Av, Liverpool. 2 br unit. Laing & Simmons Liverpool $135,000

 

Home Price Guide® Auction Results – ADELAIDE SUMMARY

	This Saturday 5 Jul 2008	Last Saturday 28 Jun 2008	This Saturday Last Year 7 Jul 2007
Total Listed for auction	39	50	55
Withdrawn	3	1	1
Unreported to date	7	1	3
Number Reported Auctioned	29	48	51
Number Passed in	16	17	8
Sold Prior	2	8	7
Sold Under the hammer	11	23	35
Total Number sold	13	31	42
Total Dollar value sold	$5.0M	$11.1M	$16.0M
Sold After	0	0	1
Clearance Rate	40.6%	63.3%	80.8%

52 Week hi – 100%
52 Week low – 33%

Dearest:
39 Sixth Av, St Peters. 4 br house. Toop & Toop Norwood $1,125,000

Cheapest:
5 Leonard St, Elizabeth Park. 3 br house. Casserly & Mitchell $149,000

 

Home Price Guide® Auction Results – BRISBANE SUMMARY

	This Saturday 5 Jul 2008	Last Saturday 28 Jun 2008	This Saturday Last Year 7 Jul 2007
Total Listed for auction	67	71	51
Withdrawn	7	3	1
Unreported to date	13	14	1
Number Reported Auctioned	47	54	49
Number Passed in	32	40	23
Sold Prior	8	5	8
Sold Under the hammer	7	9	17
Total Number sold	15	14	25
Total Dollar value sold	$12.2M	$5.2M	$8.3M
Sold After	0	2	1
Clearance Rate	27.8%	24.6%	50.0%

52 Week hi – 66%
52 Week low – 0%

Dearest:
407 Brisbane Cso, Yeronga. 5 br house. First National Metro Commercial $2,750,000

Cheapest:
4/53 Gresham St, East Brisbane. 1 br unit. Ray White Real Estate Bulimba $260,500

 

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.