This article is from the Australian Property Journal archive
AUCTION activity took a dip over the weekend as Australians spent the Saturday voting in the referendum, with the combined capitals’ clearance rate falling below 70% for the first time since April.
According to the latest figures from Domain, nationally there were 1,784 auctions listed, down from 1,994 the week before with 1,226 auctions reported up from 1,739.
At 65.1%, the national clearance rate was up from last week’s revised 63.3%, with 798 properties selling at auction down from 1,101 in the week prior, with 199 properties withdrawn, down from 211.
Compared to the same week last year, the clearance rate was up from 58.2%, where 1,483 properties were listed, 1,293 auctions were reported and 752 were sold.
The total value sold this week was at $729.4 million, with houses bringing in an auction median of $1,250,000 and units at $851,250.
This was down from last week’s $1,011.3 million, with the auction median for houses at $1,240,000 and units at $860,000.
Compared to the same week last year, the total value sold was down from $956.5 million, with the house auction median at $1,251,500 and the unit auction median at $785,300.
According to CoreLogic’s results, Australia’s combined capitals’ preliminary clearance rate dropped below 70% for the first time since April this year, with activity down 6.5% from last week
In Sydney the clearance rate was up from 62.5% to 68.9%, with 738 reported auctions, 106 withdrawals and 323 properties selling.
Sydney’s total value sold at auction was down to $348.3 million this week, with an auction median of $1,792,500 for houses and $944,000 for units.
In Melbourne the clearance rate was down from 65.6% to 63.2%, with 634 reported auctions, 76 withdrawals and 401 properties selling.
The total value sold in Melbourne was $312.6 million, or an auction median of $1,045,000 for houses and units at $695,000.
While in Adelaide, the clearance rate was far above the national average again at 73%, with 45 auctions reported, six withdrawn and 33 properties sold, for $24,008,000 in total sales and a median of $767,500.
In Brisbane the clearance rate came in at just 34%, with 35 auctions reported, seven withdrawals and 12 sold, for $15,976,000 in total sales and a median of $1,545,000.
Finally, Canberra’s clearance rate was at 67%, with 43 auctions reported, four withdrawn and 29 properties sold for a total value at $28,569,000 and a median of $1,176,000.
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 8 Preston Av, Five Dock NSW 2046, 5 br House, DibChidiac® | $5,950,000 |
| Melbourne | 44 Holyrood St, Hampton VIC 3188, 4 br House, Buxton Real Estate Sandringham | $4,800,000 |
| Adelaide | 31 Monmouth Rd, Westbourne Park SA 5041, 4 br House, Tanner Real Estate | $1,650,000 |
| Brisbane | 35 Sentinel Ct, Raby Bay QLD 4163, 6 br House, Ray White Ascot | $3,000,000 |
| Canberra | 3 Hovell St, Griffith ACT 2603, 4 br House, Blackshaw Manuka | $2,910,000 |
| Most affordable | ||
| Sydney | 25/24-26 Meadow Cr, Meadowbank NSW 2114, 1 br Unit, Cale Property Agents | $415,000 |
| Melbourne | 43/1251 Plenty Rd, Bundoora VIC 3083, 2 br Unit, Ray White Bundoora | $289,000 |
| Adelaide | 25 Dockett Rd, Elizabeth Downs SA 5113, 4 br House, Radelaide Real Estate | $510,000 |
| Brisbane | 21/43 Maranda St, Shailer Park QLD 4128, 2 br Townhouse, Ray White Asset Management Shailer Park | $385,000 |
| Canberra | 91 Pennefather St, Higgins ACT 2615, 3 br House, LJ Hooker Belconnen | $750,000 |
