Melbourne auctions back with a vengeance

MELBOURNE'S residential property auction market has returned with a vengeance, according to the weekly Australian Property Monitors Home Price Guide.

Last Saturday, Melbourne’s auction market rebounded with 403 properties going under the hammer.

 

A total of 300 properties were sold, resulting in a clearance rate of 79.8% – almost reaching the 52-week high clearance rate of 80%.

 

Melbourne reported $126.2 million in sales, with a three bedroom house in Toorak fetching the highest price of the week at $2.55 million.

 

Meanwhile, Sydney’s market has continued along steadily with 238 property auctions and 130 sales, resulting in a clearance rate of 59.6%.

 

The total value of properties sold was $93.5 million. A land at Avoca Beach was the most expensive property sold at auction at $4.1 million.

 

In Adelaide, there were 43 auctions and 22 sales, resulting in a clearance rate of 68.8%. The total value of properties sold was $9.1 million.

 

In Brisbane, there were 43 auctions and 19 sales, resulting in clearance rate of 82.6%. The total value of properties sold was $6.5 million.

 

Australian Property Journal

 

Home Price Guide® Auction Results – MELBOURNE SUMMARY

	This Saturday 14 Apr 2007	Last Saturday 7 Apr 2007	This Saturday Last Year 15 Apr 2006
Total Listed for auction	403	9	22
Withdrawn	6	0	1
Unreported to date	27	2	5
Number Reported Auctioned	370	7	16
Number Passed in	65	3	7
Sold Prior	85	2	4
Sold Under the hammer	215	2	5
Total Number sold	300	4	9
Total Dollar value sold	$126.2M	$0.8M	$3.2M
Sold After	5	0	0
Clearance Rate	79.8%	57.1%	52.9%

52 Week hi – 80%
52 Week low – 49%

Dearest:
56 Grange Rd, Toorak. 3 br house. Talbot Birner Morley Toorak $2,550,000

Cheapest:
4/23 Ashley St, Reservoir. 2 br unit. Ray White Real Estate Preston $162,000

 

Home Price Guide® Auction Results – SYDNEY SUMMARY

	This Saturday 21 Apr 2007	Last Saturday 14 Apr 2007	This Saturday Last Year 22 Apr 2006
Total Listed for auction	238	226	168
Withdrawn	11	27	18
Unreported to date	20	10	10
Number Reported Auctioned	207	189	140
Number Passed in	76	78	57
Sold Prior	32	32	28
Sold Under the hammer	98	79	55
Total Number sold	130	111	83
Total Dollar value sold	$93.5M	$81.7M	$56.6M
Sold After	1	0	1
Clearance Rate	59.6%	51.4%	52.5%

52 Week hi – 68%
52 Week low – 44%

Dearest:
205 The Round Dr, Avoca Beach. land. George Brand Real Estate Avoca $4,100,000

Cheapest:
2/28 Union Rd, Penrith. 1 br unit. LJ Hooker Penrith $121,000

 

Home Price Guide® Auction Results – ADELAIDE SUMMARY

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	This Saturday 21 Apr 2007	Last Saturday 14 Apr 2007	This Saturday Last Year 22 Apr 2006
Total Listed for auction	43	28	42
Withdrawn	1	0	1
Unreported to date	11	4	3
Number Reported Auctioned	31	24	38
Number Passed in	9	6	14
Sold Prior	4	7	5
Sold Under the hammer	18	11	18
Total Number sold	22	18	23
Total Dollar value sold	$9.1M	$5.7M	$9.1M
Sold After	0	0