This article is from the Australian Property Journal archive
WHILE auction activity in Sydney and Melbourne was at its highest level since Easter weekend, the combined capitals preliminary clearance rate dropped 2.0% after three consecutive weeks of increases.
According to the latest figures from Domain, nationally there were 1,836 auctions listed, up from 1,689 the week before with 1,175 auctions reported down from 1,389.
At 69%, the national clearance rate was up from last week’s revised 68.3%, with 811 properties selling at auction down from 948 in the week prior, with 147 properties withdrawn, down from 149.
Compared to the same week last year, the clearance rate was up from 53.3%, where 1,706 properties were listed, 1,510 auctions were reported and 805 were sold.
The total value sold this week was at $757 million, with houses bringing in an auction median of $1,281,000 and units at $800,000.
This was down from last week’s $889.9 million, with the auction median for houses at $1,255,000 and units at $768,000.
Compared to the same week last year, the total value sold was down from $990.3 million, with the house auction median at $1,250,000 and the unit auction median at $874,000.
In Sydney the clearance rate was up from 71.9% to 73.9%, with 440 reported auctions, 81 withdrawals and 325 properties selling.
Sydney’s total value sold at auction was down to $364 million this week, with an auction median of $1,612,000 for houses and $936,000 for units.
With activity down from the same week last year, where 593 auctions were reported, with 305 properties selling for a total value of $474.2 million.
The top auction result for the week was Sydney’s 6a Ginahgulla Road in Bellevue Hill, which sold to GWS Giants deputy chairman Adrian Fonseca for $15.58 million. The three-bedroom home had a $11.5 million price guide, with 16 registered bidders for the auction.
In Melbourne the clearance rate was up from 65.8% to 66.1%, with 604 reported auctions, 55 withdrawals and 399 properties selling.
The total value sold in Melbourne was $331.9 million, or an auction median of $1,110,000 for houses and units at $662,500.
By comparison, the same week last year in Melbourne saw 676 auctions reported, with 381 sold for a total value of $398.8 million.
While in Adelaide, the clearance rate was at 78%, with 50 auctions reported, two withdrawn and 39 properties sold, for $27,058,500 in total sales and a median of $854,000.
In Brisbane the clearance rate came in at 58%, with 43 auctions reported, five withdrawals and 25 sold, for $21,927,000 in total sales and a median of $1,180,000.
Finally, Canberra’s clearance rate was at 61%, with 38 auctions reported, four withdrawn and 23 properties sold for a total value at $12,079,000 and a median of $1,130,000.
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 6a Ginahgulla Rd, Bellevue Hill NSW 2023, 3 br House, Richardson & Wrench Double Bay | $15,580,000 |
| Melbourne | 168 Brighton St, Richmond VIC 3121, 4 br House, Jellis Craig Richmond & Surrounds | $4,350,000 |
| Adelaide | 360 Gilles St, Adelaide SA 5000, 3 br House, Ouwens Casserly | $2,970,000 |
| Brisbane | 2 Batman St, Clayfield QLD 4011, 5 br House, Ray White Ascot | $3,980,000 |
| Canberra | 32 Munro Pl, Curtin ACT 2605, 4 br House, Hayman Partners | $1,860,000 |
| Most affordable | ||
| Sydney | 2G/95 Station Rd, Auburn NSW 2144, 1 br Unit, Laing + Simmons Auburn | Lidcombe | $185,000 |
| Melbourne | 6/187 Mansfield St, Thornbury VIC 3071, 1 br Unit, Ray White Reservoir | $295,000 |
| Adelaide | 5/44 Orlando Av, Hampstead Gardens SA 5086, 1 br Unit, Harris Real Estate | $227,000 |
| Brisbane | 81/15 Waratah W, Morayfield QLD 4506, 3 br Townhouse, First National Real Estate Moreton | $450,000 |
| Canberra | 24/5 Kerridge St, Kingston ACT 2604, 1 br Unit, Canberra Real Estate | $625,000 |
