Auctions flat in Melbourne & Sydney

SYDNEY and Melbourne's residential property auction markets were flat last Saturday.

The latest Australian Property Monitors’ Home Price Guide record fewer listings and sales last week in both cities.

In Sydney last Saturday, there were 238 listings and 135 sales resulting in a clearance rate of 62.2%, compared to 295 sales and 178 listings a week earlier.

The total value of properties sold was $107.5 million, down from $136 million.

The most expensive property sold was a three bedroom unit in Darling Point, which fetched $5.3 million.

In Melbourne, the market continued to see saw, last Saturday falling after rebounding a week earlier. 643 properties went under the hammer and 483 were sold, resulting in a clearance rate of 80.2%.

Melbourne sold $248.5 million last Saturday. A three bedroom Toorak house was the most expensive property sold at $3.45 million.

Adelaide reported 49 listings and 34 sales totalling $14.3 million and Brisbane had 47 properties go under the hammer and 18 were sold totalling 44.7 million.

Australian Property Journal

Home Price Guide® Auction Results – SYDNEY SUMMARY

	This Saturday 30 Jun 2007	Last Saturday 23 Jun 2007	This Saturday Last Year 1 Jul 2006
Total Listed for auction	238	295	195
Withdrawn	28	20	23
Unreported to date	21	18	8

Number Reported Auctioned	189	257	164
Number Passed in	54	78	81
Sold Prior	39	52	27
Sold Under the hammer	96	126	55
Total Number sold	135	178	82
Total Dollar value sold	$107.5M	$136.0M	$59.5M
Sold After	0	1	1

Clearance Rate	62.2%	64.3%	43.9%

52 Week hi – 69%
52 Week low – 0%

Dearest:
1/67 New Beach Rd, Darling Point. 3 br unit. Ray White Double Bay $5,300,000

Cheapest:
5/114 Rossmore Av, Punchbowl. 2 br unit. Professionals Punchbowl $180,500

Home Price Guide® Auction Results – MELBOURNE SUMMARY

	This Saturday 23 Jun 2007	Last Saturday 16 Jun 2007	This Saturday Last Year 24 Jun 2006
Total Listed for auction	643	680	478
Withdrawn	8	7	10
Unreported to date	41	19	156

Number Reported Auctioned	594	654	312
Number Passed in	107	127	123
Sold Prior	105	132	56
Sold Under the hammer	378	385	128
Total Number sold	483	517	184
Total Dollar value sold	$248.5M	$257.2M	$82.6M
Sold After	7	23	7

Clearance Rate	80.2%	78.2%	57.1%