Without question the Allsop auction’s have been a success. I think they provide a tiny bit of much needed transparency to a market where it is almost impossible to know what property sell for.
Much has been made of the properties selling for significantly over their asking prices, 36.1% according to NWL.
However I think the reserve price is fairly irrelevant what really matters is how far below bubble prices the properties are selling.
With that in mind I have tried to track through as many of the residential properties as possible to see if I can find an old asking price on IPW. In some cases the exact house is there from back in 2007/08, in other cases I have had to use a little bit of judgement and pick a similar house/apartment from the database and in others I cannot find any suitable match.
Overall I think I have managed to find a suitable price for 45 out of the 64 residential sales that went through in the auction, 70% by number but 80% of the acution by value sold.
Overall I think the prices the properties sold for was on average 68% below bubble prices.
I have uploaded the results to this google doc, if anyone spots any mistakes or links for more properties let me know and I can add them to the sheet.
The google doc
spreadsheets.google.com/spreads … c&hl=en_US