This article is from the Australian Property Journal archive
AUCTION activity wound down as half of the country took the long weekend off.
According to the latest figures from Domain, nationally there were 1,008 auctions listed, down again from 1,682 the week before, with 650 auctions reported, way down from 1,475.
However, at 68.9%, the national clearance rate was improved from last week’s revised 66%, with 448 properties selling at auction down from 974 in the week prior, with 104 properties withdrawn, down from 168.
Compared to the same week last year, the clearance rate was up from 64.2%, where 1,531 properties were listed, 1,375 auctions reported and 883 sold.
The total value sold this week was $385.4 million, with houses bringing in an auction median of $1,210,000 and units at $815,000.
This was down significantly from last week’s $857.3 million, with the auction median for houses up from $1,200,000 and units down from $750,250.
Compared to the same week last year, the total value sold was down from $1336.7 million, with the house auction median at $1,386,000 and the unit auction median at $940,000.
In Sydney the clearance rate was up from 67.7% to 69.4%, with 369 reported auctions, 69 withdrawals and 256 properties selling.
This week’s top sale was in Sydney. Selling for $13,250,000, the six-bedroom, three-bathroom house sits on a rare dual access circa 492sqm block at 2 Cliffbrook Parade, Clovelly. The property was sold with a DA approval plans available to recreate.
Sitting 600m to Clovelly Beach and ocean pool and moments from Gordons Bay’s secret beach and the local shop and yoga studio, the home includes a lower level rumpus and guest or 7th bedroom.
Sydney’s total value sold at auction was down to $251.0 million this week, with a diminished auction median of $1,605,000 for houses and $975,000 for units.
This was again well down from the same week last year, where 769 auctions were reported, with 491 properties selling for a total value of $922.8 million.
In Melbourne the clearance rate was also up from 66.3% to 68.9%, with 196 reported auctions, 27 withdrawals and 135 properties selling.
The total value sold in Melbourne was $100.0 million, or an auction median of $950,000 for houses and units at $636,000.
By comparison, the same week last year in Melbourne saw 367 auctions reported, with 233 sold for a total value of $242.8 million.
While in Adelaide, the clearance rate was at 78%, with 36 auctions reported, none withdrawn and 28 properties sold, for $16,423,750 in total sales and a median of $796,500.
In Brisbane the clearance rate was down marginally to 69%, with 26 auctions reported, four withdrawals and 18 sold, for $8,394,500 in total sales.
Finally, Canberra’s clearance rate was at 48%, with 23 auctions reported, four withdrawn and 11 properties sold for a total value at $9,607,500.
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 2 Cliffbrook Pde, Clovelly NSW 2031, 6 br House, PPD Real Estate | $13,250,000 |
| Melbourne | 13 Bicentennial Ct, Doncaster East VIC 3109, 5 br House, Barry Plant Manningham | $2,300,000 |
| Adelaide | 22 Ethel St, Forestville SA 5035, 4 br House, Harris Real Estate – Copper Coast R | $2,101,000 |
| Brisbane | 74 Alexandra St, Bardon QLD 4065, 3 br House, Caroline Brown Property | $1,467,500 |
| Canberra | 74 Alexandra St, Bardon QLD 4065, 3 br House, Caroline Brown Property | $3,325,000 |
| Most affordable | ||
| Sydney | 2/9 Clement St, Rushcutters Bay NSW 2011, 0 br Studio, RW Elizabeth Bay | $425,000 |
| Melbourne | 6/297 Pascoe Vale Rd, Essendon VIC 3040, 1 br Unit, My Agent Real Estate | $345,000 |
| Adelaide | 10 Margaret St, Para Hills SA 5096, 3 br House, HAR Sergeant Property | $496,500 |
| Brisbane | 807/35 Peel St, South Brisbane QLD 4101, 1 br Unit, Plum Property | $220,000 |
| Canberra | 4/20 Eyre St, Kingston ACT 2604, 1 br Unit, Blackshaw Manuka | $565,000 |
