This article is from the Australian Property Journal archive
Residential property auction sales edged higher in Sydney, Melbourne and Brisbane last Saturday, according to the latest Home Price Guide from Australian Property Monitors.
The number of property listings also edged higher in Sydney, Melbourne and Brisbane.
In Sydney, 219 properties were auctioned and 107 were sold, resulting in a clearance rate of 53% compared 185 listings and 92 sales a week earlier.
In Melbourne, 494 properties were auctioned and 149 were sold, resulting in a clearance rate of 61.9% compared to 414 listings and 199 sales a week earlier.
Whilst in Brisbane, 68 properties were auctioned and 24 were sold, resulting in a clearance rate of 44.4%.
A week earlier, 52 properties went under hammer in Brisbane and 23 were sold.
Last Saturday, the Adelaide market was the only city to record a slight fall with 36 listings and 15 sales.
A week earlier, there were 35 listings and 18 sales.
The most expensive property sold was in Sydney, a five bedroom house at Strathfield fetched $4.06 million.
Last Saturday, the Mortgage Industry Association’s chief executive Phil Naylor said that if the Reserve Bank announces an increase in interest rates next week, it will impact many households still adjusting to the May increase.
“While most home buyers have factored in a small rate hike, the combination of rising petrol prices and a second rate increase will see many families struggling to make ends meet,” he added.
According to the latest MIAA/BankWest Home Finance survey, one in six homebuyers will be concerned with a 0.25% increase and a quarter of home owners would have difficulties if rates were to increase 0.5%; a 1% increase would impact 45% of the market.
“This is just another reminder that people taking out home loans should not stretch their finances too thinly,” Naylor concluded.
By Kathryn O’Meara
Home Price Guide® Auction Results – SYDNEY SUMMARY
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|
This Saturday
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Last Saturday
|
This Saturday Last Year
|
|
Total Listed for auction
|
219
|
185
|
164
|
|
Withdrawn
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15
|
18
|
17
|
|
Unreported to date
|
17
|
7
|
22
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|
|
|
||
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Number Reported Auctioned
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187
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160
|
125
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|
Number Passed in
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80
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68
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47
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|
Sold Prior
|
30
|
28
|
22
|
|
Sold Under the hammer
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77
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64
|
55
|
|
Total Number sold
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107
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92
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77
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Total Dollar value sold
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$ 76.5M
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$ 56.9M
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$ 58.1M
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Sold After
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1
|
1
|
1
|
|
|
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||
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Clearance Rate
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53.0%
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51.7%
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54.2%
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52 Week hi – 63%
52 Week low – 41%
52 Week low – 41%
Dearest:
26 Fraser St, Strathfield. 5 br house. Georges Ellis & Co $ 4,060,000
26 Fraser St, Strathfield. 5 br house. Georges Ellis & Co $ 4,060,000
Cheapest:
29/73 McBurney Rd, Cabramatta. 2 br unit. Richardson & Wrench Fairfield $ 140,000
29/73 McBurney Rd, Cabramatta. 2 br unit. Richardson & Wrench Fairfield $ 140,000
Home Price Guide® Auction Results – MELBOURNE SUMMARY
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This Saturday
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Last Saturday
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This Saturday Last Year
|
|
Total Listed for auction
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494
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414
|
472
|
|
Withdrawn
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4
|
8
|
7
|
|
Unreported to date
|
155
|
85
|
171
|
|
|
|
||
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Number Reported Auctioned
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335
|
321
|
294
|
|
Number Passed in
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123
|
121
|
121
|
|
Sold Prior
|
61
|
61
|
42
|
|
Sold Under the hammer
|
149
|
138
|
125
|
|
Total Number sold
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210
|
199
|
167
|
|
Total Dollar value sold
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$ 89.0M
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$ 100.6M
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$ 69.4M
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Sold After
|
4
|
3
|
8
|
|
|
|
||
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Clearance Rate
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61.9%
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60.5%
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55.5%
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52 Week hi – 63%
52 Week low – 46%
52 Week low – 46%
Dearest:
2 Drake St, Brighton. other residential. Buxton Brighton $ 2,285,000
2 Drake St, Brighton. other residential. Buxton Brighton $ 2,285,000
Cheapest:
3 Settlers Wy, Deer Park. land. Barry Plant Doherty St Al $ 100,000
3 Settlers Wy, Deer Park. land. Barry Plant Doherty St Al $ 100,000
Home Price Guide® Auction Results – ADELAIDE SUMMARY
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This Saturday
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Last Saturday
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This Saturday Last Year
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Total Listed for auction
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36
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35
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34
|
|
Withdrawn
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1
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0
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1
|
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Unreported to date
|
10
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5
|
2
|
|
|
|
||
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Number Reported Auctioned
|
25
|
30
|
31
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|
Number Passed in
|
10
|
12
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17
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|
Sold Prior
|
3
|
1
|
2
|
|
Sold Under the hammer
|
12
|
17
|
12
|
|
Total Number sold
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15
|
18
|
14
|
|
Total Dollar value sold
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$ 4.7M
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$ 7.4M
|
$ 4.8M
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|
Sold After
|
0
|
0
|
1
|
|
|
|
||
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Clearance Rate
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57.7%
|
60.0%
|
43.8%
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52 Week hi – 72%
52 Week low – 0%
52 Week low – 0%
Dearest:
94 Lambert Rd, Royston Park. 3 br house. Toop & Toop Norwood $ 630,000
94 Lambert Rd, Royston Park. 3 br house. Toop & Toop Norwood $ 630,000
Cheapest:
16 Dickerson Cr, Trott Park. 4 br house. Grant Threadgold Real Estate $ 178,000
16 Dickerson Cr, Trott Park. 4 br house. Grant Threadgold Real Estate $ 178,000
Home Price Guide® Auction Results – BRISBANE SUMMARY
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This Saturday
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Last Saturday
|
This Saturday Last Year
|
|
Total Listed for auction
|
68
|
52
|
59
|
|
Withdrawn
|
5
|
3
|
1
|
|
Unreported to date
|
14
|
3
|
16
|
|
|
|
||
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Number Reported Auctioned
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|||
