This article is from the Australian Property Journal archive
WITH only two weeks to the Spring selling season, the auction market saw activity and demand weakening further on the weekend as the lockdowns continue.
National
According to Domain, listings fell below the 2,000 level as the number of properties withdrawn increased to 343. There were 1,872 listings, 1,213 auctions and 815 sales, resulting in a clearance rate of 67.2%.
Volumes totalled $666.2 million, the median house and unit sale prices were $1,222,500 and $783,000.
This is below the previous weekend’s result where there were 2,104 listings, 1,257 auctions and 920 sales totalling $742.2 million, resulting in a 73.2% rate, whilst 208 properties were withdrawn.
Despite the weaker result and current lockdowns in Sydney, Melbourne and Canberra, the national market is performing better than last year when only Victoria combatted a second wave of the pandemic.
This time last year, clearances were 60.1% from 676 listings, 672 auctions and 404 sales totalling $496.7 million.
Sydney
Despite seven weeks in lockdown, Sydney was holding up, reporting a preliminary clearance rate of 82.8%. Although the stronger clearances was due to a declined in listings. Only 49 properties were withdrawn.
Of the 472 homes listed, 373 were auctioned and 309 sold. Volumes totalled $312.1 million and the median house and unit sale prices were $1,652,500 and $1,199,000.
In the previous weekend the rate was 78.8% from 532 listings, 468 auctions and 369 sales totalling $363.5 million. Last year the rate was 61.8% from 489 listings, 476 auctions and 294 sales totalling $409.9 million.
Melbourne
Melbourne’s market was impacted a substantial increase in withdrawals. According to Domain, the rate was 54.6% from 1,138 listings, 663 auctions and 362 sales totalling $267.4 million.
275 auctions were withdrawn, up from 131 in the previous weekend and 39 last year.
In the previous weekend there were 1,305 listings, 577 went under the hammer and 378 sold, resulting in a 65.5% clearance rate, totalling $251.3 million.
Last year the rate was 57.1% from 112 auctions and 64 sales totalling $52.9 million.
According to the REIV, the clearance rate was 95% from 374 auctions and 355 sales, totalling $439 million. It also recorded 150 private sales totalling $116 million.
Canberra
Despite going into a snap lockdown, the nation’s capital auction market performed strongly with clearance rates of 81%. Of the 77 homes listed, 58 auctions and 47 sales were reported.
Sales totalled $32.751 million and the median sale price was $1,025,000.
Brisbane
Brisbane’s market was holding up with 100 homes listed. There were 65 auctions and 47 sales, resulting in a 72% clearance rate. Sales totalled $17.85 million and the median sale price was $810,000.
Adelaide
Adelaide was the leader on the weekend with strong clearance rates of 93%. According to Domain, of the 85 homes listed, 54 went under the hammer and 50 sold. Sales totalled $35.98 million and the median sale price was $826,000.
Perth
Western Australia reported a 60% rate from five auctions and three sales, according to Corelogic, which also reported 570 private sales.
Hobart
Tasmania did not record any auction activity but there were 165 private sales, according to Corelogic.
Darwin
Similarly the Norther Territory had no auctions whilst 29 homes sold privately.
| Auction highlights this week Saturday, 14 August 2021 (Source: Domain) | ||
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 20/7 Commonwealth Pde, Manly NSW 2095, 3 br Unit, Stone Real Estate Manly | $6,600,000 |
| Melbourne | 6A The Strand, Williamstown VIC 3016, 3 br House, RT Edgar Williamstown | $3,200,000 |
| Adelaide | 22 Royal Av, Burnside SA 5066, 5 br House, RW Norwood | $2,460,000 |
| Brisbane | 37 Saint James St, Highgate Hill QLD 4101, 4 br House, Adcock Prestige | $2,200,000 |
| Canberra | 8 McLaren Cr, Pearce ACT 2607, 4 br House, Luton Properties – Weston Creek and Molonglo Valley | $1,796,000 |
| Most affordable | ||
| Sydney | 6/7-11 Meehan St, Granville NSW 2142, 2 br Unit, RW Parramatta/Oatlands/Northmead | $410,000 |
| Melbourne | 7/82 Burwood Hwy, Burwood East VIC 3151, 2 br Unit, OBrien Real Estate – Blackburn | $450,000 |
| Adelaide | 15 Phillis Tce, Peterhead SA 5016, 2 br House, HAR Sheppard Property RLA 211280 | $386,000 |
| Brisbane | 38 Biggs Av, Beachmere QLD 4510, 2 br House, RW Bribie Island | $470,000 |
| Canberra | 9/86 Totterdell St, Belconnen ACT 2617, 2 br Townhouse, Luton Properties – Dickson | $480,000 |
