This article is from the Australian Property Journal archive
THE number of properties going under the hammer increased for the weekend in a row following three consecutive weeks of decline.
Across Australia auction listings increased to 1,487 homes last weekend, according to Domain. Activity increased in all capitals except for Sydney.
Despite the increase, clearance rates remain in the low 50s holding pattern.
Domain reported 988 auctions and 531 sales resulting in a 53.7% clearance rate. Volumes totalled $423.5 million, the median house and unit sale prices were $1,102,150 and $718,750.
In the previous weekend the rate was 51.8% from 1,442 listings, 1,245 auctions and 645 sales totalling $506.7 million.
Listings are down on last year’s 1,757, where there were 1,352 auctions and 936 sales reported.
Domain chief of research and economics Dr Nicola Powell said auction listings are set to continue to rise further next Saturday.
But she added that annually, they continue to track lower, down a staggering 15.2%.
“These lower numbers confirm a waning seller sentiment.” Powell said.
Sydney bucked the trend with listings falling to 575 properties, of which 340 went under the hammer and 173 sold, representing a 50.9% clearance rate. Volumes totalled $149 million, the median house and unit sale prices were $1,501,000 and $1,015,000.
In the previous weekend clearances were 50.6% from 597 listings, 510 auctions and 258 sales totalling $232.6 million. This time last year, they were 71.3% from 507 listings, 474 auctions and 338 sales totalling $568.7 million.
Melbourne activity rose to 627 listings, with 451 homes auctioned and 248 sold representing a 55% clearance rate. Sales totalled $198.4 million, the median house and unit sale prices were $1,060,000 and $665,000.
In the prior weekend there were 598 listings, 527 auctions and 279 sales, resulting in a 52.9% clearance rate and $207.1 million. This time last year the rate was 66.6% from 994 listings, 656 auctions and 437 sales totalling $449.4 million.
Adelaide clearances were stable at 68%. Of the 104 homes listed, 63 were auctioned and 43 sold, totalling $31.49 million and the median sale price was $830,000.
Brisbane was also stable at 47%. There were 110 listings, 78 auctions and 37 sales totalling $24.31 million, the median sale price was $1,161,000.
Canberra had 71 homes listed, of which 56 went under the hammer and 30 sold, resulting in a 54% clearance rate. Volumes totalled $20.304 million and the median sale price was $973,000.
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 37 Shortland Av, Strathfield NSW 2135, 6 br House, Richard Matthews RE | $4,625,000 |
| Melbourne | 74 Gould St, Frankston VIC 3199, 3 br House, HAR Frankston | $3,975,000 |
| Adelaide | 27 Halsbury Av, Kingswood SA 5062, 4 br House, Harris Real Estate – Copper Coast R | $2,588,000 |
| Brisbane | 10 Harrow St, Nundah QLD 4012, 5 br House, Butler+Co Estate Agents | $2,500,000 |
| Canberra | 40 Jansz Cr, Griffith ACT 2603, 4 br House, Blackshaw Manuka | $2,770,000 |
| Most affordable | ||
| Sydney | 9/32 Alice St, Harris Park NSW 2150, 2 br Unit, RW Parramatta/Oatlands/Northmead | $370,500 |
| Melbourne | 323/660 Blackburn Rd, Notting Hill VIC 3168, 1 br Unit, Reventon Residential | $330,000 |
| Adelaide | 9 Tatura Rd, Munno Para West SA 5115, 4 br House, RW Gawler | $435,000 |
| Brisbane | 149 Chambers Flat Rd, Marsden QLD 4132, 4 br House, Cromurcon Professional Real Estate | $410,000 |
| Canberra | 7/11 Tenison-Woods Cct, Bonython ACT 2905, 2 br Unit, Blackshaw Weston Creek Molonglo | $460,000 |
