Sydney auction tipping

According to the Global Property Guide's latest house price indices survey, property prices are down around 6% from 12 months ago. In addition interest rates have been slashed by 75 basis points in the past two months, and agents are reporting the traditional slowdown in winter listings.

The question is: will the market begin to firm or will it slide further in the coming season? For those who want to have a harmless punt, there's now a tipping website, www.propertytycoon.com.au, where punters can guess auction five results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.

In Sydney, one of the properties in round one of the competition is 48a John Street, Erskineville. It will be auctioned by True Property, with the vendors expecting to cash in on the property that they secured for $791,000 about six years ago.The property has attracted interest from buyers over $1 million.

If you think you know what it will sell for place a tip at Property Tycoon.