Melbourne auctions has a rest

AFTER bouncing back almost four weeks ago, Melbourne's auction market took time off last Saturday, according to Australian Property Monitors' Home Price Guide.

The Home Price Guide shows a week earlier Melbourne reported 459 auctions and 320 sales representing a clearance rate of 68.2% and the total value of properties sold was $163.2 million. But last Saturday, REIV figures shows there were 134 auctions and 75 sales totalling $45.77 million.

 

On the other hand, private sales continued to rally with 771 sales on the weekend, totalling $$323.37 million.

 

In Sydney, the auction market also did not kick off the first Saturday in March with 176 auctions and 123 sales totalling $81.2 million. A week ago there were 290 auctions and 203 sales totalling $139.2 million.

 

The most expensive property sold was a two bedroom unit in Bondi Beach for $2.8 million and cheapest was a two bedroom unit in Concord West for $235,5000.

 

Adelaide had 14 properties go under the hammer and five were sold totalling $1.8 million. Brisbane reported 30 auctions and nine sales totalling $3.3 million.

 

Australian Property Journal

 

Home Price Guide® Auction Results – MELBOURNE SUMMARY

	This Saturday 7 Mar 2009	Last Saturday 28 Feb 2009	This Saturday Last Year 8 Mar 2008
Total Listed for auction	136	595	387
Withdrawn	1	10	9
Unreported to date	85	126	45
Number Reported Auctioned	50	459	333
Number Passed in	18	133	124
Sold Prior	12	67	64
Sold Under the hammer	18	253	140
Total Number sold	30	320	204
Total Dollar value sold	$11.0M	$163.2M	$102.6M
Sold After	2	8	5
Clearance Rate	58.8%	68.2%	59.6%

52 Week hi – 74%
52 Week low – 40%

Dearest:
58 Station St, Burwood. 3 br house. MJ Docking & Associates Vermont $785,000

Cheapest:
8 Boga Pl, Wyndham Vale. land. Westwood First National Real Estate $139,000

 

Home Price Guide® Auction Results – SYDNEY SUMMARY

	This Saturday 7 Mar 2009	Last Saturday 28 Feb 2009	This Saturday Last Year 8 Mar 2008
Total Listed for auction	237	352	382
Withdrawn	10	45	49
Unreported to date	51	17	10
Number Reported Auctioned	176	290	323
Number Passed in	52	84	137
Sold Prior	29	55	71
Sold Under the hammer	94	148	115
Total Number sold	123	203	186
Total Dollar value sold	$81.2M	$139.2M	$148.6M
Sold After	1	3	0
Clearance Rate	66.1%	60.6%	50.0%

52 Week hi – 71%
52 Week low – 40%

Dearest:
11/2-4 Notts Av, Bondi Beach. 2 br unit. McGrath Estate Agents $2,800,000

Cheapest:
1/74a Queen St, Concord West. 2 br unit. Raine & Horne Concord $232,500

 

Home Price Guide® Auction Results – ADELAIDE SUMMARY

	This Saturday 7 Mar 2009	Last Saturday 28 Feb 2009	This Saturday Last Year 8 Mar 2008
Total Listed for auction	17	21	62
Withdrawn	1	1	1
Unreported to date	2	0	9
Number Reported Auctioned	14	20	52
Number Passed in	9	8	15
Sold Prior	1	4	9
Sold Under the hammer	4	8	28
Total Number sold	5	12	37
Total Dollar value sold	$1.8M	$3.6M	$20.7M
Sold After	1	0	1
Clearance Rate	33.3%	57.1%	69.8%

52 Week hi – 100%
52 Week low – 11%

Dearest:
40 Tynte St, North Adelaide. 3 br house. Bernard H Booth $796,000

Cheapest:
19 Carnarvon Tce, Largs North. 3 br house. Ray White Woodville $475,000

 

Home Price Guide® Auction Results – BRISBANE SUMMARY

	This Saturday 7 Mar 2009	Last Saturday 28 Feb 2009	This Saturday Last Year 8 Mar 2008
Total Listed for auction	47	53	96
Withdrawn	5	6	9
Unreported to date	12	5	6
Number Reported Auctioned	30	42	81
Number Passed in	21	26	42
Sold Prior	1	4	14
Sold Under the hammer	8	11	24
Total Number sold	9	15	38
Total Dollar value sold	$3.3M	$7.0M	$21.0M
Sold After	0	2	2
Clearance Rate	25.7%	31.3%	42.2%

52 Week hi – 48%
52 Week low – 0%

Dearest:
18 Sunday St, Shorncliffe. 3 br house. Ray White Sandgate $670,000

Cheapest:
38 Holmes St, Brighton. 3 br house. Dickies First National Sandgate $315,000

 

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 2009.