Auction listings & sales ease

DESPITE maintaining strong clearance rates, the residential auction market recorded fewer listings and sales last Saturday.

According to Australian Property Monitors’ Home Price Guide, Sydney, Melbourne and Adelaide saw a fall in activity on a weekly basis.

Brisbane recorded fewer sales but the number of properties going under the hammer increased.

In Sydney last Saturday, 190 properties were auctioned and 117 were sold, resulting in a clearance rate of 63.9%. The total value of properties sold was $83.7 million. Compared to a week earlier, there were 259 listings and 155 sales totalling $126.8 million.

Sydney’s most expensive sale was seven bedroom house in Strathfield, which fetched $1.83 million.

Melbourne saw 494 properties auction and 372 sales, down from 553 listings and 387 sales a week earlier. As a result, last Saturday recorded $175.5 million in total sales, down from $208 million.

The most expensive property sold was a six bedroom Brighton house for $3.28 million.

Adelaide had 35 listings and 20 sales totalling $9.8 million.

In a rare occurrence, a $2.27 million property was sold by auction last Saturday in Adelaide, in the suburb of Hawthorn.

In Brisbane, there were 61 listings and 23 sales totalling $8.8 million.

Australian Property Journal

Home Price Guide® Auction Results – SYDNEY SUMMARY

52 Week hi – 69%
52 Week low – 0%

Dearest:
29 Strathlora St, Strathfield. 7 br house. Elders Enfield Inner West $1,837,000

Cheapest:
43/132-134 Lansdowne Rd, Canley Vale. 2 br unit. Raine & Horne Cabramatta $130,500

Home Price Guide® Auction Results – MELBOURNE SUMMARY

52 Week hi – 83%
52 Week low – 0%

Dearest:
299-305 New St, Brighton. 6 br house. Hodges Brighton $3,280,000

Cheapest:
10 Waterloo St, Brighton. 3 br house. Buxton Brighton $125,000

Home Price Guide® Auction Results – ADELAIDE SUMMARY

	This Saturday 14 Jul 2007	Last Saturday 7 Jul 2007	This Saturday Last Year 15 Jul 2006
Total Listed for auction	35	51	56
Withdrawn	0	1	5
Unreported to date	6	3	0
Number Reported Auctioned	29	47	51
Number Passed in	9	8	28
Sold Prior	6	7	5
Sold Under the hammer	14	32	17
Total Number sold	20	39	22
Total Dollar value sold	$9.8M	$15.0M	$7.6M
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