This article is from the Australian Property Journal archive
AUCTION listings and sales fell last weekend as the market continues to cool down in the first month of autumn.
Following a surge in the previous weekend, auction listings declined on Saturday. According to Domain, there were 2,551 properties listed of which 1,887 went under the hammer and 1,270 sold.
Clearance rates were stable at 67.3% but sales declined to $1.141 billion, the median house and unit sale prices were $1,290,000 and $765,000.
Clearances in the previous weekend were 67% but sales were higher at $1.378 billion. There were 2,684 listings, 2,288 auctions and 1,533 sales. There were no comparable results from last year due to the Easter long weekend.
Sydney listings increased last weekend, but sales fell further. Of the 958 homes listed, 657 were auctioned and 434 sold, resulting in a 66.1% clearance rate. Volumes totalled $466.3 million, the median house and unit sale prices were $1,800,500 and $1,135,000.
Listings were higher than the previous weekend’s 948 properties, where 785 auctions and 516 sales were reported, resulting in a 65.7% clearance rate. Volumes totalled $545.3 million.
Melbourne’s clearance rates improved marginally due to fewer properties on the market, to 67.2%. According to Domain, there were 1,259 listings, 997 auctions and 670 sales totalling $535.3 million. The median house and unit sale prices were $1,125,000 and $730,000.
In the previous weekend there were 1,353 listings, 1,208 auctions and 801 sales, representing a 66.3% clearance rate and volumes of $659.3 million.
The nation’s capital continued to slow with clearances slipping marginally to 72% from 73% in the previous weekend. Of the 93 homes listed, 76 auctions and 55 sales were reported.
Canberra’s total sales were $50,810,500 and the median sale price was $997,000.
Brisbane clearance rates were stable at 67%. Of the 128 homes listed, 88 went under the hammer and 59 sold, totalling $52.737 million. The median sale price was $1,420,000.
Adelaide’s hot auction market is also cooling with clearances falling below the 80% market, to 75%.
There were 113 listings, 69 auctions and 52 sales totalling $35.808 million, the median sale price was $755,000.
| Auction highlights this week Saturday, 2 April 2022 (Source: Domain) | ||
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 16 Spring Cove Av, Manly NSW 2095, 4 br House, Clarke & Humel Property Management Pty Ltd | $11,100,000 |
| Melbourne | 3 John St, Kew VIC 3101, 5 br House, Kay & Burton – Hawthorn | $5,810,000 |
| Adelaide | 43 Seventh Av, St Peters SA 5069, 4 br House, RW Adelaide CBD | $2,520,000 |
| Brisbane | 18 Union St, Clayfield QLD 4011, 4 br House, RW Wilston | $3,325,000 |
| Canberra | 26 Darling St, Barton ACT 2600, 3 br House, Belle Property Canberra | $2,525,000 |
| Most affordable | ||
| Sydney | 302/25 Hill Rd, Wentworth Point NSW 2127, 1 br Unit, Ray White Wentworth Point | $555,000 |
| Melbourne | 1/126 Heatherdale Rd, Mitcham VIC 3132, 2 br Unit, Philip Webb Doncaster | $397,000 |
| Adelaide | 4/5 Lorraine Av, Lockleys SA 5032, 2 br Unit, LJH Flinders Park | $425,000 |
| Brisbane | 47/18 Whitley St, Mount Gravatt East QLD 4122, 3 br Townhouse, Karalis Real Estate | $535,000 |
| Canberra | 88/5 Burnie St, Lyons ACT 2606, 2 br Unit, Kalogris Property Sydney | $510,000 |
