RESIDENTIAL PROPERTY
AUCTION activity continued to gain traction this week across the combined capitals, despite weaker results for many cities. According to the latest figures from Domain, nationally there were...
At 65.5%, the national clearance rate was up from the previous week’s 63.8%, with 543 properties selling at auction up from 501 in the week prior, with 12o properties withdrawn, up from 63.
Compared to the same week last year, the clearance rate was down from 70.8%, where 1,953 properties were listed, 1,830 auctions reported and 1,295 sold.
The total value sold for the week was $491.2 million, with houses bringing in an auction median of $1,181,000 and units at $853,000.
This was up on last week’s $435.1 million, with the auction median for houses up marginally from $1,084,000 and units from $802,500.
Compared to the same week last year, the total value sold was down significantly from $1929.4 million, with the house auction median at $1,338,000 and the unit auction median at $830,000.
In Sydney the clearance rate was down from 68.4% to 67.0%, with 349 reported auctions, 67 withdrawals and 234 properties selling.
This was for an improved total value sold of $251.0 million, or an auction median of $1,620,000 for houses and $1,000,000 for units.
However, this was again well down from the same week last year, where 709 auctions were reported, with 525 properties selling for a total value of $1059.0 million.
In Melbourne the clearance rate was down from 65.3% to 64.5%, with 355 reported auctions, 42 withdrawals and 229 properties selling.
The total value sold in Melbourne was $183.5 million, or an auction median of $1,080,500 for houses and units at $663,000
By comparison, the same week last year in Melbourne saw 824 auctions reported, with 544 sold for a total value of $630.0 million.
While in Adelaide, the clearance rate was again way up on the national rate at 79%. Though just 43 auctions were reported, with one withdrawn and...
In Brisbane the clearance rate was improved at 59%, with 32 auctions reported, three withdrawals and 19 sold, for...
Finally, Canberra’s clearance rate was still at 57%, with 54 auctions reported, seven withdrawn and 31 properties sold for...