This article is from the Australian Property Journal archive
WHILE capital city auction activity took a 2.0% dive over the week, the combined capitals recorded their strongest preliminary clearance rate since May.
According to the latest data from Domain, nationally there were 1,596 auctions listed, from the previous week’s 1,434, with the number of reported auctions at 1,110 from on 1,228 in the week prior.
The national clearance rate saw a bump over the week to 62.7%, up from the previous week’s revised 59.0%, with 696 properties selling down from the week prior’s 725, with 172 properties withdrawn up from 165.
The clearance rate was still down from the same weekend last year, where the rate was at 70.1%, with 2,378 properties listed, 2,244 auction reported and 1,573 properties selling.
The total value sold for this week was $613.2 million, with houses bringing in a an auction median of $1,210,000 and units at $756,000.
Last week’s total value at auction was $617.0 million, where the auction median for houses was $1,160,250 and with units at $809,500.
Compared to the same week last year, the total value sold was down significantly from $2395.8 million, with the house auction median down from $1,420,000 and the unit median at $860,000.
CoreLogic’s preliminary data had the clearance rate at 63.7%, which would be the strongest rate since late-May’s 63.7%.
In Sydney the clearance rate was up from 59.4% to 66.8%, where 422 were reported, with 88 withdrawals and 282 properties selling.
This was for a total value sold of $298.6 million, for a comparable auction median of $1,610,000 for houses and $968,000 for units.
In Melbourne the clearance rate was up from 59.6% to 61.1%, with the volume of auctions at 511, with 59 withdrawals and 312 properties selling.
This was for a total value sold of $234.7 million and an auction median of $1,035,000 for houses and at $716,000 for units.
Meanwhile in Adelaide, the clearance rate was still up on the national average at 72%. 68 auctions were reported, with seven withdrawals and 49 sold, for a total sales value of $29,007,500, with a median of $775,000.
In Brisbane the clearance rate was down to just 41% with 44 auctions reported, seven withdrawals and 18 sold. For a total sales value of $19,200,500, with a median of $1,347,500.
While in Canberra the clearance was at 55%, with 67 auctions reported and 11 withdrawals. With 37 properties sold, the total value was at $33,028,000, with the median at $1,057,500.
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 25 Bayview St, Bronte NSW 2024, 5 br House, Belle Property Bondi Junction | $9,500,000 |
| Melbourne | 22 Courang Rd, Glen Iris VIC 3146, 4 br House, Marshall White Stonnington | $3,390,000 |
| Adelaide | 11 Bray Av, Semaphore Park SA 5019, 5 br House, RW Grange | $1,730,000 |
| Brisbane | 49 Union St, Clayfield QLD 4011, 5 br House, RW – New Farm | $6,870,000 |
| Canberra | 36 Empire Cct, Forrest ACT 2603, 5 br House, Blackshaw Manuka | $ 3,830,000 |
| Most affordable | ||
| Sydney | 7/18 Byrnes Av, Neutral Bay NSW 2089, 1 br Unit, BowerGray Manly | $551,000 |
| Melbourne | 5 Olympia Pl, Melton West VIC 3337, 3 br House, Fletchers Melton | $410,000 |
| Adelaide | 64 Whitington Rd, Davoren Park SA 5113, 3 br House, LJH Property Specialists – Gawler | | $387,500 |
| Brisbane | 2/15 Prokuda Cl, Goodna QLD 4300, 3 br Duplex, R&H Goodna | $245,000 |
| Canberra | 216/100 Gungahlin Pl, Gungahlin ACT 2912, 1 br Unit, Area Specialist – ACT | $345,000 |
