Melbourne end June on new low

MELBOURNE residential property auctions sales topped just $57.9 million last Saturday, according to Australian Property Monitors Home Price.

Last Saturday was a new low for Melbourne, down from $139.7 million worth of sales a week earlier and $208.7 million a year ago.

 

The fall in sales was a result of fewer properties going under the hammer on the weekend, 228 compared to 491 a weak earlier and 485 a year ago.

 

And there were just 129 sales in Australia’s auction capital, whereas the same time 12 months ago there were 388.

 

A five bedroom house in Brighton which fetched $1.62 million was most expensive property sold and a one bedroom unit in Kingsville was the cheapest at $161,000.

 

In Sydney, the market continued to slow with 249 auctions and 128 sales resulting in a clearance rate of 43.7%, totalling $87.5 million. The most expensive property sold was three bedroom house in Bronte for $4.40 million and cheapest a two bedroom unit in Warwick Farm for $146,000.

 

Adelaide reported 40 auctions and 28 sales totalling $9.7 million and Brisbane had 42 auctions and 11 sales totalling $4.6 million.

 

Australian Property Journal

 

Home Price Guide® Auction Results – MELBOURNE SUMMARY

	This Saturday 28 Jun 2008	Last Saturday 21 Jun 2008	This Saturday Last Year 30 Jun 2007
Total Listed for auction	491	554	551
Withdrawn	5	7	3
Unreported to date	258	56	63
Number Reported Auctioned	228	491	485
Number Passed in	90	208	86
Sold Prior	39	64	92
Sold Under the hammer	90	213	296
Total Number sold	129	277	388
Total Dollar value sold	$57.9M	$139.7M	$208.7M
Sold After	9	9	22
Clearance Rate	55.4%	55.6%	79.5%

52 Week hi – 90%
52 Week low – 40%

Dearest:
1 Arthur Av, Brighton. 5 br house. Buxton Brighton $1,620,000

Cheapest:
1/30 Bishop St, Kingsville. 1 br unit. Sweeney Estate Agents Yarraville $161,000

 

Home Price Guide® Auction Results – SYDNEY SUMMARY

	This Saturday 28 Jun 2008	Last Saturday 21 Jun 2008	This Saturday Last Year 30 Jun 2007
Total Listed for auction	343	302	249
Withdrawn	44	33	33
Unreported to date	50	14	14
Number Reported Auctioned	249	255	202
Number Passed in	119	112	61
Sold Prior	45	40	41
Sold Under the hammer	83	102	100
Total Number sold	128	142	141
Total Dollar value sold	$87.5M	$99.0M	$109.8M
Sold After	2	2	1
Clearance Rate	43.7%	49.3%	60.0%

52 Week hi – 69%
52 Week low – 42%

Dearest:
45 Gardyne St, Bronte. 3 br house. goodyerDonnelley Real Estate $4,405,000

Cheapest:
8/34 Remembrance Av, Warwick Farm. 2 br unit. Laing & Simmons Cabramatta $146,000

 

Home Price Guide® Auction Results – ADELAIDE SUMMARY

	This Saturday 28 Jun 2008	Last Saturday 21 Jun 2008	This Saturday Last Year 30 Jun 2007
Total Listed for auction	47	48	52
Withdrawn	1	2	1
Unreported to date	6	3	2
Number Reported Auctioned	40	43	49
Number Passed in	12	23	11
Sold Prior	8	7	10
Sold Under the hammer	20	13	27
Total Number sold	28	20	37
Total Dollar value sold	$9.7M	$8.9M	$15.3M
Sold After	0	0	1
Clearance Rate	68.3%	44.4%	74.0%

52 Week hi – 100%
52 Week low – 33%

Dearest:
21 Burke St, Tusmore. 3 br house. Neale Realty Pty Ltd $925,000

Cheapest:
1/51 Diagonal Rd, Glenelg East. 1 br unit. Century 21 The Bay Glenelg $176,000

 

Home Price Guide® Auction Results – BRISBANE SUMMARY

	This Saturday 28 Jun 2008	Last Saturday 21 Jun 2008	This Saturday Last Year 30 Jun 2007
Total Listed for auction	63	58	60
Withdrawn	3	3	2
Unreported to date	18	8	1
Number Reported Auctioned	42	47	57
Number Passed in	31	29	18
Sold Prior	5	7	14
Sold Under the hammer	6	10	21
Total Number sold	11	17	35
Total Dollar value sold	$4.6M	$8.5M	$17.3M
Sold After	2	1	5
Clearance Rate	24.4%	34.0%	59.3%

52 Week hi – 66%
52 Week low – 0%

Dearest:
67 Cairns Tce, Red Hill. land. Place Estate Agents Paddington $940,000

Cheapest:
38 Stuart St, Wellington Point. 3 br house. Century 21 Bay Realty Cleveland $403,000

 

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.