Auctions slides down further

THE residential property auction market has continued to decline on the weekend, according to Australian Property Monitors' Home Price Guide.

According to the Home Price Guide, Sydney had 183 auctions and 102 sales – the clearance rates falling to 44.7%. Last Saturday, $66.7 million worth of properties were sold and the most expensive sale was a five bedroom house in Mosman for $5.25 million and cheapest was a development land in Katoomba for $40,000.

 

Melbourne has stabilised at the bottom, results show 223 properties were auctioned and 129 were sold totalling just $57.6 million. The clearance rate was 55.4%.

 

A five bedroom house in Sandringham was the weekend’s most expensive sale for $2.23 million and cheapest was two bedroom unit in Fawkner for $162,000.

 

Adelaide wrapped up the weekend with 26 auctions and 16 sales totalling $6.7 million and Brisbane had 57 auctions and 21 sales totalling $11.1 million.

 

Australian Property Journal

 

Home Price Guide® Auction Results – SYDNEY SUMMARY

	This Saturday 6 Sep 2008	Last Saturday 30 Aug 2008	This Saturday Last Year 8 Sep 2007
Total Listed for auction	265	308	208
Withdrawn	45	34	22
Unreported to date	37	9	18
Number Reported Auctioned	183	265	168
Number Passed in	79	121	51
Sold Prior	40	48	34
Sold Under the hammer	62	91	80
Total Number sold	102	139	114
Total Dollar value sold	$66.7M	$86.0M	$73.1M
Sold After	2	5	4
Clearance Rate	44.7%	46.5%	60.0%

52 Week hi – 66%
52 Week low – 40%

Dearest:
18 Moruben Rd, Mosman. 5 br house. Century 21 Resnekov Realty $5,250,000

Cheapest:
66 Camp St, Katoomba. land. Ray White Leura $40,000

 

Home Price Guide® Auction Results – MELBOURNE SUMMARY

	This Saturday 6 Sep 2008	Last Saturday 30 Aug 2008	This Saturday Last Year 8 Sep 2007
Total Listed for auction	552	581	679
Withdrawn	10	11	9
Unreported to date	319	63	47
Number Reported Auctioned	223	507	623
Number Passed in	89	223	126
Sold Prior	36	60	109
Sold Under the hammer	93	210	385
Total Number sold	129	270	494
Total Dollar value sold	$57.6M	$136.3M	$238.3M
Sold After	5	19	12
Clearance Rate	55.4%	52.1%	78.2%

52 Week hi – 90%
52 Week low – 40%

Dearest:
13 Lefevre St, Sandringham. 6 br house. Hocking Stuart Sandringham $2,230,000

Cheapest:
9/10 Derby St, Fawkner. 2 br unit. Ray White Real Estate Pascoe Vale $162,000

 

Home Price Guide® Auction Results – ADELAIDE SUMMARY

	This Saturday 6 Sep 2008	Last Saturday 30 Aug 2008	This Saturday Last Year 8 Sep 2007
Total Listed for auction	36	49	61
Withdrawn	3	1	0
Unreported to date	7	3	4
Number Reported Auctioned	26	45	57
Number Passed in	10	26	7
Sold Prior	7	6	17
Sold Under the hammer	9	13	32
Total Number sold	16	19	49
Total Dollar value sold	$6.7M	$9.1M	$17.4M
Sold After	0	0	1
Clearance Rate	55.2%	41.3%	86.0%

52 Week hi – 100%
52 Week low – 11%

Dearest:
29 Sheffield St, Malvern. 4 br house. Smallacombe Real Estate Mitcham $1,225,000

Cheapest:
19 Learmonth Tce, Enfield. 3 br house. Ray White Prospect $232,000

 

Home Price Guide® Auction Results – BRISBANE SUMMARY

	This Saturday 6 Sep 2008	Last Saturday 30 Aug 2008	This Saturday Last Year 8 Sep 2007
Total Listed for auction	73	78	40
Withdrawn	2	9	1
Unreported to date	14	7	0
Number Reported Auctioned	57	62	39
Number Passed in	36	38	21
Sold Prior	8	7	14
Sold Under the hammer	13	16	4
Total Number sold	21	23	18
Total Dollar value sold	$11.1M	$13.6M	$11.7M
Sold After	0	3	0
Clearance Rate	35.6%	32.4%	45.0%

52 Week hi – 66%
52 Week low – 0%

Dearest:
29 Rous St, Hendra. 5 br house. Ray White Ascot $1,360,000

Cheapest:
8 Albert Ct, Alexandra Hills. 3 br house. Century 21 Bay Realty Cleveland $317,000

 

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.