This article is from the Australian Property Journal archive
HOME sellers’ confidence continues to improve, pushing auction listings higher last weekend.
National
According to Domain, the number of homes listed for auction increased to 2,048 on the weekend, of which 1,481 went under the hammer and 1,145 sold, resulting in a clearance rate of 77.3%.
Auction volumes totalled $1040.4 million, the median house and unit sale prices were $1,250,000 and $797,000.
Clearance rates were stable from the previous weekend’s 77% where there were 1,978 listings, 1,612 auctions and 1,241 sales totalling $1162.3 million.
The market is outperforming last year where there were only 1,050 listings, 976 auctions and 659 sales. The clearance rate was 67.5% and sales $878.1 million.
AMP Capital chief economist Shane Oliver said listings continue to increase as the NSW and Victorian state governments reopen, but he noted that Sydney clearances are off highs.
Oliver expects the market will slow ahead because of rising fixed rates and higher rate buffers.
Sydney
Sydney clearances declined last weekend due to higher listings. Domain reported 721 homes were listed, 519 were auctioned and 397 sold under the hammer, resulting in a weaker clearance rate of 76.5%.
Sales also declined to $450.9 million, the median house and unit sale prices were $1,703,500 and $1,112,000.
In comparison the previous weekend’s rate was 80.6% from 677 listings, 563 auctions and 454 sales, totalling $558.1 million. This time last year, the rate was 72.2% from 621 listings, 572 auctions and 413 sales totalling $650.2 million.
Melbourne
Listings dipped slightly last weekend to 994 properties last Saturday. According to Domain, 748 auctions and 571 sales were recorded, resulting in a 76.3% clearance rate. Sales totalled $448.1 million.
In the previous weekend the rate was 73.5% from 1,000 listings, 808 auctions and 594 sales totalling $457.4 million. Last year it was 57.6% from 286 listings, 264 auctions and 152 totalling $145.2 million.
The REIV recorded a clearance rate of 90%. There were 944 auctions and 853 sales reported, totalling $1011.67 million. There were also 195 private sales totalling $169 million.
Canberra
Canberra continues to perform strongly with clearances of 86%. Domain reported 72 listings, 65 auctions and 56 sales.
Auction sales totalled $42.657 million and the median sale price was $986,000.
Meanwhile Corelogic reported 53 private sales.
Brisbane
Brisbane had 129 auction listings, of which 72 properties went under the hammer and 57 sold, resulting in a 79% clearance race, according to Domain.
Sales totalled $55.055 million, the median sale price was $1,350,000.
Corelogic reported 1,298 private sales.
Adelaide
Adelaide was another strong performer reporting a 83% clearance rate on the weekend. According to Domain, there were 132 listings, 77 auctions and 64 sales, which totalled $43.723 million. The median sale price was $800,000.
Corelogic reported 379 private sales.
Perth
Western Australia reported a low clearance rate of 33% from nine auctions, according to Corelogic. However the private sales market was strong with 609 transactions.
Hobart
Tasmania did not report any auction activity but 168 homes sold privately, according to Corelogic.
Darwin
The Northern Territory reported a 100% clearance rate from two auctions as well as 16 private sales, according to Corelogic.
| Auction highlights this week Saturday, 23 October 2021 (Source: Domain) | ||
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 58 Shirley Rd, Roseville NSW 2069, 5 br House, McGrath Lindfield | $10,100,000 |
| Melbourne | 95 Pellatt St, Beaumaris VIC 3193, 4 br House, Belle Property Sandringham | $3,750,000 |
| Adelaide | 70 Second Av, St Peters SA 5069, 4 br House, T&T Real Estate | $2,800,000 |
| Brisbane | 6 Verdun St, Alderley QLD 4051, 3 br House, RW Alderley | $12,750,000 |
| Canberra | 4 Boobialla St, O’Connor ACT 2602, 4 br House, Bastion Property Group | $2,400,000 |
| Most affordable | ||
| Sydney | 9/26 Early St, Parramatta NSW 2150, 2 br Unit, One Agency Parramatta CBD | $525,000 |
| Melbourne | 2/66 Woornack Rd, Carnegie VIC 3163, 1 br Unit, Woodards Carnegie | $335,500 |
| Adelaide | 50A Kelsey Rd, Salisbury North SA 5108, 3 br House, Exp Australia Pty Ltd | $385,000 |
| Brisbane | 10 Serenity Ct, Crestmead QLD 4132, 4 br House, RW Eight Mile Plains | $480,000 |
| Canberra | 9/20 Moore St, Turner ACT 2612, 1 br Unit, Independent Our Team | $445,000 |
