Election fails to deter auction market

THE 2007 Federal Election failed to slow down Melbourne's auction market on the weekend, instead the market smashed a new record last Saturday.

On the other hand Australian Property Monitors’ Home Price Guide show Sydney’s market took a break on weekend.

 

Melbourne’s auction market also auctioned more than a thousand properties.

 

Last Saturday, 1046 properties went under the hammer and 736 properties were sold resulting in a clearance rate of 76.4%. This is up from last week’s 891 listings and 736 sales.

 

The total value of properties sold was $413.1 million. A three bedroom house in Williamstown was the most expensive property sold for $4.137 million.

 

Meanwhile in Sydney, 191 properties were auctioned and 110 were sold resulting in a clearance rate of 60.8%. The total value of properties sold was $84.7 million.

 

Sydney’s most expensive property sold on the weekend was a four bedroom house in Riverview for $2.51 million.

 

Finally, Adelaide auctioned 32 properties and sold 14 for a total value of $5.2 million and Brisbane auctioned 30 and sold 14 for $12.5 million.

 

Australian Property Journal

 

Home Price Guide® Auction Results – MELBOURNE SUMMARY

	This Saturday 17 Nov 2007	Last Saturday 10 Nov 2007	This Saturday Last Year 18 Nov 2006
Total Listed for auction	1046	891	809
Withdrawn	12	15	0
Unreported to date	83	55	64
Number Reported Auctioned	951	821	745
Number Passed in	202	173	221
Sold Prior	151	159	126
Sold Under the hammer	585	469	376
Total Number sold	736	628	502
Total Dollar value sold	$413.1M	$322.8M	$227.4M
Sold After	16	26	25
Clearance Rate	76.4%	75.1%	67.4%

52 Week hi – 90%
52 Week low – 0%

Dearest:
45 The Strand , Williamstown. 3 br house. Hocking Stuart Williamstown $4,175,000

Cheapest:
2 Muirhead Cr, Werribee. 2 br house. Sweeney Estate Agents Werribee $157,500

 

Home Price Guide® Auction Results – SYDNEY SUMMARY

	This Saturday 24 Nov 2007	Last Saturday 17 Nov 2007	This Saturday Last Year 25 Nov 2006
Total Listed for auction	191	500	445
Withdrawn	26	46	45
Unreported to date	10	12	21
Number Reported Auctioned	155	442	379
Number Passed in	45	158	164
Sold Prior	47	97	65
Sold Under the hammer	63	187	149
Total Number sold	110	284	214
Total Dollar value sold	$84.7M	$224.0M	$211.0M
Sold After	1	3	2
Clearance Rate	60.8%	58.2%	50.5%

52 Week hi – 70%
52 Week low – 0%

Dearest:
20 Taleeban Rd, Riverview. 4 br house. Hamilton & Co Real Estate $2,516,000

Cheapest:
46/5 Darley St, Darlinghurst. studio. First National Pyrmont $196,000

 

Home Price Guide® Auction Results – ADELAIDE SUMMARY

	This Saturday 24 Nov 2007	Last Saturday 17 Nov 2007	This Saturday Last Year 25 Nov 2006
Total Listed for auction	32	68	88
Withdrawn	2	1	4
Unreported to date	10	8	7
Number Reported Auctioned	20	59	77
Number Passed in	6	20	40
Sold Prior	3	5	6
Sold Under the hammer	11	34	30
Total Number sold	14	39	36
Total Dollar value sold	$5.2M	$21.5M	$12.8M
Sold After	0	0	3
Clearance Rate	63.6%	65.0%	44.4%

52 Week hi – 88%
52 Week low – 0%

Dearest:
7 Joseph Av, Wattle Park. 3 br house. Toop & Toop $805,000

Cheapest:
40 Princes Rd, Mount Barker. 3 br house. Nitschke First National Real Estate $270,000

 

Home Price Guide® Auction Results – BRISBANE SUMMARY

	This Saturday 24 Nov 2007	Last Saturday 17 Nov 2007	This Saturday Last Year 25 Nov 2006
Total Listed for auction	30	95	74
Withdrawn	2	2	4
Unreported to date	0	3	13
Number Reported Auctioned	28	90	57
Number Passed in	14	38	38
Sold Prior	3	20	4
Sold Under the hammer	11	31	15
Total Number sold	14	51	19
Total Dollar value sold	$12.5M	$30.3M	$6.8M
Sold After	1	1	0
Clearance Rate	46.7%	55.4%	31.1%

52 Week hi – 83%
52 Week low – 0%

Dearest:
51 Dornoch Tce, West End. other residential. First National Metro Commercial $4,100,000

Cheapest:
L587 Dulcie Cl, Springfield Lakes. land. First National Springfield $177,000

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 2007.