This article is from the Australian Property Journal archive
AUSTRALIA’S combined capital cities recorded their lowest preliminary clearance rate in 32 weeks, despite seeing the second busiest auction week this year.
According to the latest figures from Domain, nationally there were 2,307 auctions listed, up from 2,078 the week before with 1,601 auctions reported up from 1,794.
At 60.5%, the national clearance rate was up from last week’s revised 59.8%, with 968 properties selling at auction down from 1,073 in the week prior, with 310 properties withdrawn, up from 258.
Compared to the same week last year, the clearance rate was up from 55.4%, where 1,687 properties were listed, 1,622 auctions were reported and 899 were sold.
The total value sold this week was at $882.9 million, with houses bringing in an auction median of $1,242,000 and units at $781,500.
This was down from last week’s $973.4 million, with the auction median for houses at $1,210,000 and units at $760,000.
Compared to the same week last year, the total value sold was up from $753.8 million, with the house auction median at $1,110,000 and the unit auction median at $800,000.
According to CoreLogic’s results, the combined capitals hosted the second busiest auction week of the year-to-date, with auction activity up 13.7% from the week prior and 31.4% from the same week last year.
In Sydney the clearance rate was unchanged at 61.9%, with 554 reported auctions, 152 withdrawals and 343 properties selling.
Sydney’s total value sold at auction down to $375.2 million this week, with an auction median of $1,782,500 for houses and $950,000 for units.
In Melbourne the clearance rate was up from 59.5% to 60%, with 865 reported auctions, 124 withdrawals and 519 properties selling.
The total value sold in Melbourne was $411.9 million, or an auction median of $1,132,500 for houses and units at $650,500.
While in Adelaide, the clearance rate was at 66%, with 103 auctions reported, 13 withdrawn and 68 properties sold, for $53,460,500 in total sales and a median of $875,000.
In Brisbane the clearance rate came in at just 44%, with 59 auctions reported, 12 withdrawals and 26 sold, for $30,876,500 in total sales and a median of $1,322,500.
Finally, Canberra’s clearance rate was at 45%, with 69 auctions reported, eight withdrawn and 31 properties sold for a total value at $28,543,500 and a median of $1,022,500.
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 150 Tennyson Rd, Tennyson Point NSW 2111, 6 br House, McGrath Hunters Hill | $7,800,000 |
| Melbourne | 1 Mahoney St, Fitzroy VIC 3065, 3 br House, Nelson Alexander Fitzroy | $1,590,000 |
| Adelaide | 15 Undelcarra Rd, Burnside SA 5066, 4 br House, Ray White Norwood | $2,190,000 |
| Brisbane | 30 Hunter St, Wooloowin QLD 4030, 2 br House, _Archived_Ray White Metro North | $8,350,000 |
| Canberra | 3 Le Hunte St, Deakin ACT 2600, 4 br House, Luton Properties – Manuka | $2,685,000 |
| Most affordable | ||
| Sydney | 6/41 First Av, Campsie NSW 2194, 2 br Unit, Richardson & Wrench Hurlstone Park | $535,000 |
| Melbourne | 216/270 High St, Windsor VIC 3181, 1 br Unit, Gary Peer | $375,500 |
| Adelaide | 2/32 Fifth Av, Ascot Park SA 5043, 2 br Unit, Harcourts VennMillar | $475,000 |
| Brisbane | 14 Woodash St, Kingston QLD 4114, 3 br House, Harcourts Property Centre | $465,000 |
| Canberra | 34 Dallachy Pl, Page ACT 2614, 2 br Townhouse, LJ Hooker Belconnen | $580,000 |
