Sydney regains & Melbourne in top form

THE residential property auctions market in Melbourne is in fine form. For every 10 properties going under the hammer – eight are sold, according to Australian Property Monitors.

APM’s weekly Home Price Guide show whilst there were fewer properties auctioned and sold in Melbourne last Saturday when compared to a week earlier – the auction clearance rate is near an all time 52-week high at 80%.

During the same period last year, Melbourne was only managing to sell five out of every 10 properties auctioned.

There were 547 properties auctioned last Saturday and 381 were sold, totalling $204.4 million, which is fewer than the 673 properties auctioned and 491 sales a week earlier totalling $251.1 million.

A six bedroom house in Balwyn was the most expensive property sold at $2.51 million.

Sydney had 249 listings and 148 sales last Saturday totalling $119.1 million, slightly above 243 auctions and 138 sales a week earlier.

The auction clearance rate was 62.7%.

Sydney’s most expensive sale was in a four bedroom house in Clovelly for $3.6 million.

Australian Property Journal

Home Price Guide® Auction Results – MELBOURNE SUMMARY

	This Saturday 30 Jun 2007	Last Saturday 23 Jun 2007	This Saturday Last Year 1 Jul 2006
Total Listed for auction	547	673	349
Withdrawn	3	9	7
Unreported to date	71	56	48

Number Reported Auctioned	473	608	294
Number Passed in	85	113	133
Sold Prior	90	108	52
Sold Under the hammer	291	383	106
Total Number sold	381	491	158
Total Dollar value sold	$204.4M	$251.1M	$67.4M
Sold After	16	8	3

Clearance Rate	80.0%	79.6%	52.5%

52 Week hi – 83%
52 Week low – 0%

Dearest:
11 Kalimna St, Balwyn. 6 br house. Jellis Craig & Company Hawthorn $2,510,000

Cheapest:
71 Neptune Dr, Point Cook. land. Point Cook Real Estate $131,000

Home Price Guide® Auction Results – SYDNEY SUMMARY

	This Saturday 7 Jul 2007	Last Saturday 30 Jun 2007	This Saturday Last Year 8 Jul 2006
Total Listed for auction	249	243	176
Withdrawn	13	29	21
Unreported to date	13	18	9

Number Reported Auctioned	223	196	146
Number Passed in	75	58	55
Sold Prior	44	40	31
Sold Under the hammer	104	98	59
Total Number sold	148	138	90
Total Dollar value sold	$119.1M	$108.6M	$68.0M
Sold After	1	1	2

Clearance Rate	62.7%	61.3%	53.9%