This article is from the Australian Property Journal archive
NATIONAL auction listings have broken the 1,000 properties barrier for the first time this spring, as the Melbourne market continues to pick up after restrictions on public real estate auction was lifted.
National
Activity increased last weekend with 1,083 homes scheduled for auction, according to Domain. There were 804 auctions and 566 properties sold, resulting in a 70.4% clearance rate. Volumes totalled $453.6 million and the median house and unit sale prices were $1,140,000 and $805,000.
This is an improvement from the previous weekend’s 916 listings, 808 auctions and 547 sales resulting in a 67.7% clearance rate. Volumes totalled $450.8 million.
But it is lower than the bumper Super Saturday in the same weekend last year where there were 2,330 listings, 2,141 auctions and 1,459 sales totalling $1.74 billion and a 68.1% clearance rate.
This time in 2018 clearances were 45.4% from 2,374 listings, 2,009 auctions and 1,017 sales totalling $1.10 billion; in 2017 it was 64.1% from 3,009 listings, 2,610 auctions and 1,787 sales totalling $2.23 billion; in 2016 it was 72.1% from 1,603 listings, 1,410 auctions and 1,071 sales totalling $1.21 billion; and in 2015 it was 60% from 1,926 listings, 1,603 auctions and 1,065 sales totalling $1.12 billion.
Sydney
Sydney’s market was steady, and listings have returned to last year’s pre-pandemic levels. According to Domain, there were 637 properties listed, 474 were auctioned and 350 sold resulting in a preliminary clearance rate of 73.8%.
Volumes totalled $313 million and the median house and unit sale prices were $1,381,500 and $901,500.
Corelogic reported 1,684 private sales.
AMP Capital chief economist Shane Oliver predicts the final rate will be around 71%, which is on par with the previous weekend’s 71.4% from 640 listings, 576 auctions and 411 sales totalling $366.9 million.
Although listings have returned to pre-COVID-19 levels, volumes were lower. In the same weekend last year, of the 651 homes listed, 594 went under the hammer and 422 sold totalling $625 million.
In 2018 the rate was 45.5% from 673 listings, 467 auctions and 275 sales totalling $383.2 million; in 2017 clearances were 56.2% from 992 listings, 790 auctions and 514 sales totalling $802.7 million; in 2016 it was 76.5% from 817 listings, 706 auctions and 578 sales totalling $805.3 million; in 2015 it was 58.4% from 1,097 listings, 872 auctions and 592 sales totalling $743.5 million.
Melbourne
Listing more than doubled last weekend with 304 homes scheduled for auction, of which 223 were auctioned and 138 sold for $91.6 million, according to Domain. The median house and unit sale prices were $923,000 and $627,250.
The REIV reported 83% clearance rate from 281 auctions and 233 sales totalling $233 million. There were also 112 private sales totalling $89 million.
The results improved on the previous weekend’s 57%, where Domain reported 139 listings, 107 auctions and 61 sales totalling $37.1 million. This time last year the rate was 70.5% from 1,467 listings, 1,337 auctions and 943 sales totalling $1.05 billion.
In 2018 the rate was 45.1% from 1,437 listings, 1,321 auctions and 628 sales totalling $625.9 million; in 2017 it was 69% from 1,677 listings, 1,539 auctions and 1,091 sales totalling $1.29 billion; in 2016 it was 72.8% from 461 listings, 436 auctions and 326 sales totalling $287.4 million; and in 2015 it was 62.6% from 485 listings, 439 auctions and 285 sales totalling $236.4 million.
Canberra
Canberra continues to be a strong performer posting a 75% clearance on the weekend, according to Domain. There were 65 listings, 56 auctions and 42 sales totalling $29.75 million. The median sale price was $815,000.
According to Corelogic, the ACT clearance rate was even higher at 83%. From the 82 properties listed, 48 were auctioned and 40 sold. There were also 71 private sales.
Brisbane
Brisbane reported a 55% clearance rate from 41 listings, 31 auctions and 17 sales totalling $9.07 million, according to Domain.
According to Corelogic, the Queensland clearance rate was higher at 61%. Of the 155 properties listed, 70 went under the hammer and 44 sold. Meanwhile 1,147 homes sold privately.
Adelaide
Clearance rates soared to 95% in Adelaide last weekend. Domain reported 36 listings, 20 auctions and 19 sold. Volumes totalled $10.178 million and the median sale price was $685,000.
Across South Australia, there were 64 listings, 33 auctions and 27 homes sold, according to Corelogic. There were also 353 private sales.
Perth
Western Australia had nine listings and two auctions, however the properties were passed in. On the other hand, 564 homes sold privately, according to Corelogic.
Hobart
Tasmania had three listings, but no auctions were reported by Corelogic. There were 162 private sales.
Darwin
The Northern Territory had eight listings, six auctions and five sales. There were also 22 private sales, according to Corelogic.
| Auction highlights this week Saturday, 24 October 2020 (Source: Domain) | ||
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 30 Anglesea St, Bondi NSW 2026, 5 br House, Black Diamondz Property Concierge Projects | $5,200,000 |
| Melbourne | 23 Collingwood St, Sandringham VIC 3191, 4 br House, Buxton Sandringham | $2,713,000 |
| Adelaide | 8 Francis Av, Fullarton SA 5063, 4 br House, Eld Glenelg | $1,105,000 |
| Brisbane | 15 Pine St, Hamilton QLD 4007, 4 br House, Place Estate Agents Ascot | $1,720,000 |
| Canberra | 10 Bedford St, Deakin ACT 2600, 5 br House, Peter Blackshaw Manuka, Projects | $1,555,000 |
| Most affordable | ||
| Sydney | 27/64-66 Sproule St, Lakemba NSW 2195, 2 br Unit, Gardner Property Agents | $300,000 |
| Melbourne | 311/153B High St, Prahran VIC 3181, 1 br Studio, Biggin & Scott Stonnington | $381,000 |
| Adelaide | 4/24 Chatsworth Gr, Toorak Gardens SA 5065, 2 br Unit, Williams Real Estate RLA 247163 | $370,000 |
| Brisbane | 7 Bligh St, Nundah QLD 4012, 2 br House, RW Ascot | $465,000 |
| Canberra | 27/13 Chandler St, Belconnen ACT 2617, 2 br Unit, LJH Belconnen | $412,000 |
