This article is from the Australian Property Journal archive
THE auction market is back in business for the new year and has started off strongly. On the weekend, four capital cities reported clearance rates of over 75% led by Canberra with 84%.
National
The preliminary clearance rate across Australia was 79.9%, according to Domain. There were 690 listings, 537 auctions and 429 sales.
Volumes totalled $345.2 million and the median house and unit sale prices were $926,000 and $623,500.
This is higher than the same weekend last year where the rate was 63.7% from 410 listings, 369 auctions and 235 sales totalling $205.5 million.
Canberra
The nation’s capital started the year in a lead position with a 84% clearance rate. According to Domain, there were 36 listings, 32 auctions and 27 sales. Volumes totalled $16.88 million and the median sale price was $788,000.
Corelogic reported a 88% clearance rate from 61 listings, 32 auctions and 28 sales. There were also 46 homes that sold privately.
Sydney
In Sydney, the preliminary rate was 79.6%. Of the 250 homes listed, 206 went under the hammer and 164 sold, according to Domain. Volumes totalled $159.2 million and the median house and unit sale prices were $1,240,000 and $992,500.
In the same weekend last year, the rate was 72.5% from 142 listings, 131 auctions and 95 sales totalling $107.5 million.
Meanwhile Corelogic reported 1,545 private sales.
Melbourne
After spending much of 2020 under lockdown, Melbourne’s market was off to a raging start with 308 properties listed, of which 238 were auctioned and 195 sold, according to Domain.
Auctions totalled $148.8 million and the median house and unit sale prices were $907,000 and $565,000.
This time last year the market was off to a slow start with only 139 listings, 126 auctions and 80 sales totalling $60.4 million. The rate was 63.5%.
Brisbane
Brisbane posted a 58% clearance rate, according to Domain. There were 33 listings, 19 auctions and 11 sales totalling $3.77 million.
Across Queensland, the rate was 54% from 179 listings, 67 auctions and 36 sales, according to Corelogic. There were also 1,007 private sales.
Adelaide
The city of churches was another performer with clearance rates of 76%, according to Domain. Of the 63 properties listed, 42 were auctioned and 32 sold. Volumes totalled $16.50 million and the median sale price was $688,500.
Across South Australia, the rate was 85% from 88 listings, 33 auctions and 28 sales, according to Corelogic. There were also 280 private sales.
Perth
Western Australia recorded a 67% rate from 18 listings, three auctions and two sales, according to Corelogic. There were also 469 private transactions.
Hobart
There were no auctions held in Tasmania last weekend although 136 homes sold privately, according to Corelogic.
Darwin
The Northern Territory also did not record any auction activity but 11 properties sold privately, according to Corelogic.
| Auction highlights this week Saturday, 30 January 2021 | ||
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 27 Milroy Av, Kensington NSW 2033, 4 br House, Ballard Property | $5,130,000 |
| Melbourne | 2 Dundee St, Balwyn VIC 3103, 4 br House, Jellis Craig Projects | Tivoli | $2,560,000 |
| Adelaide | 98 Third Av, Joslin SA 5070, 4 br House, LJH Commercial Adelaide | $1,180,000 |
| Brisbane | 18 Yamal St, Robertson QLD 4109, 4 br House, HAR Property Centre | $1,010,000 |
| Canberra | 17 Scrivener St, O’Connor ACT 2602, 5 br House, Wright Dunn Real Estate | $1,790,000 |
| Most affordable | ||
| Sydney | 1211/91B Bridge Rd, Westmead NSW 2145, 1 br Unit, McGrath Property Management (West) | $425,000 |
| Melbourne | 9/21 Rose St, Box Hill VIC 3128, 1 br Unit, Ross Hunt Real Estate | $302,000 |
| Adelaide | 32 Fairford Tce, Semaphore Park SA 5019, 1 br House, Ouwens Casserly | $293,000 |
| Brisbane | 1 Hanlon St, Tanah Merah QLD 4128, 4 br House, Raine and Horne Shailer park | $333,000 |
| Canberra | 6 Hallen Cl, Phillip ACT 2606, 3 br Townhouse, Hayman Partners, Projects | $525,000 |
