This article is from the Australian Property Journal archive
AUCTION activity picked up again after last week saw NSW head into the voting booths rather than under the hammer.
According to the latest figures from Domain, nationally there were 2,103 auctions listed, up from 1,899 the week before, with 1,483 auctions reported down from 1,693.
At 68.7%, the national clearance rate was up from last week’s revised 66.2%, with 1,019 properties selling at auction down from 1,121 in the week prior, with 181 properties withdrawn, down from 183.
Compared to the same week last year, the clearance rate was up from 63.8%, where 2,498 properties were listed, 2,348 auctions reported and 1,499 sold.
The total value sold this week was $915.4 million, with houses bringing in an auction median of $1,325,000 and units at $832,000.
This was down from last week’s $982.1 million, with the auction median for houses down from $1,222,050 and units down from $810,000.
Compared to the same week last year, the total value sold was down significantly from $2327.9.0 million, with the auction median for houses down from $1,410,000 and units up from $828,000.
In Sydney the clearance rate was up again from 66.3% after the NSW election weekend to 71.2%, with 552 reported auctions, 105 withdrawals and 393 properties selling.
Not taking the week off, Sydney saw the biggest result in the country over the weekend, taking in $11.8 million for a six-bedroom, six-bathroom house on a 727sqm Dover Heights lot.
The home sold for for $800,000 above its reserve and smashed its price guidance of $9.5 million, with bidding opening at$8.8 million, before 32 bids saw a local businessperson emerge victorious, under representation by Monika Tu, from Black Diamondz Property Concierge.
Sydney’s total value sold at auction was up to $431.6 million this week, with an auction median of $1,730,000 for houses and $990,000 for units.
This was again well down from the same week last year, where 838 auctions were reported, with 531 properties selling for a total value of $1090.5 million.
In Melbourne the clearance rate was up marginally from 68.0% to 68.7%, with 769 reported auctions, 66 withdrawals and 528 properties selling.
The total value sold in Melbourne was $417.8 million, or an auction median of $1,240,000 for houses and units at $714,000.
By comparison, the same week last year in Melbourne saw 1,245 auctions reported, with 753 sold for a total value of $1008.0 million.
While in Adelaide, the clearance rate was at 72%, with 60 auctions reported, four withdrawals and 43 properties sold, for $35,788,200 in total sales and a median of $835,000.
In Brisbane the clearance rate was at 53%, with 53 auctions reported, five withdrawals and 28 sold, for $30,097,000 in total sales and a median of $1,100,000.
Finally, Canberra’s clearance rate was at 48%, with 63 auctions reported, three withdrawn and 30 properties sold for a total value at $15,362,500 and a median of $980,000.
| Auction highlights this week Saturday, 1 April 2023 | ||
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 54 Gilbert St, Dover Heights NSW 2030, 6 br House, Black Diamondz Property Concierge Projects | $11,800,000 |
| Melbourne | 1 Glendene Av, Kew VIC 3101, 4 br House, Kay & Burton Boroondara | $5,432,000 |
| Adelaide | 7 Braund Rd, Fitzroy SA 5082, 5 br House, Harris Real Estate – Copper Coast R | $2,305,000 |
| Brisbane | 53 Browne St, New Farm QLD 4005, 4 br House, Havig & Jackson | $3,005,000 |
| Canberra | 23 Quinane Av, Forde ACT 2914, 4 br House, Hive Property (ACT) Pty Ltd | $2,125,000 |
| Most affordable | ||
| Sydney | 26/33-35 Sir Joseph Banks St, Bankstown NSW 2200, 2 br Unit, Pace Property Agents | $377,000 |
| Melbourne | 7/375 Neerim Rd, Carnegie VIC 3163, 1 br Unit, Gary Peer | $310,000 |
| Adelaide | 50 Peacock Rd, Elizabeth Downs SA 5113, 3 br House, RW Gawler | $424,000 |
| Brisbane | 95 Peverell St, Hillcrest QLD 4118, 4 br House, Link Living | $461,000 |
| Canberra | 78 Ian Nicol St, Watson ACT 2602, 3 br Townhouse, LJH Belconnen | $600,000 |
