This article is from the Australian Property Journal archive
AFTER big expectations for the busiest auction week seen in months, national results have proved disappointing as clearance rates fall.
According to the latest figures from Domain, nationally there were 2,048 auctions listed, up from the previous weeks 2,000 with 1,467 auctions taking place down from 1,767 the week before.
At 58.7%, the national clearance rate was up from the previous week’s 56.5%, with 861 properties selling at auction down from 998 in the week prior, with 268 properties withdrawn, up slightly from 260.
The clearance rate was again down from 60.1% in the same week last year, where 3,547 properties were listed, 3,379 auctions reported and 2,030 sold.
The total value sold for the week was $689.4 million, with houses bringing in an auction median of $1,105,000 and units at $700,000.
The total value was down on last week’s $852.1 million, with the auction median for houses also down from $1,184,500 and for units from $770,000.
Compared to the same week last year, the total value sold was down significantly from $297.8 million, the house auction median at $1,375,000 and the unit auction median at $850,000.
Though according to CoreLogic, the week lived up to their expectations as combined capital cities reported 2,667 homes taken to auction this week by their figures, making it the busiest auction week since late-May’s 3,226.
In Sydney the clearance rate was up from 57.0% to 60.2%, with 497 reported auctions, 130 withdrawals and 299 properties selling.
This was for a reduced total value sold of $290.9 million, or an auction median of $1,385,000 for houses and $888,000 for units.
In Melbourne the clearance rate was up from 56.9% to 57.8%, with 784 reported auctions, 118 withdrawals and 453 properties selling.
This was for a lower total value sold of $314.5 million, or an auction median of $1,018,500 for houses and $632,500 for units.
While in Adelaide, the clearance rate was back up above the national average at 74%, with 69 auctions reported, seven withdrawals and 51 properties sold, for $39,130,000 in total sales and a median of $910,000.
In Brisbane the clearance rate was down again and still well below the national average at 47%, with 51 auctions reported, four withdrawals and 24 sold, for $18,958,000 in value and a median of $1,452,000.
Finally, Canberra saw a lowered clearance rate of 54%, with 70 auctions reported, nine withdrawals and 38 properties sold for a total value at $27,183,500 and a median of $995,000.
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 6 The Terrace, Abbotsford NSW 2046, 4 br House, RW Erskineville | Alexandria | Glebe | Surry Hills | $7,200,000 |
| Melbourne | 69 The Boulevard HAWTHORN | $4,500,000 |
| Adelaide | 33 Eton Rd, Somerton Park SA 5044, 4 br House, Harris Real Estate – Copper Coast R | $2,750,000 |
| Brisbane | 71 Kooringal Dr, Jindalee QLD 4074, 4 br House, Adcock Prestige | $3,700,000 |
| Canberra | 12 Lincoln Cl, Chapman ACT 2611, 4 br House, Blackshaw Manuka | $2,661,000 |
| Most affordable | ||
| Sydney | 29/3 Hornsey St, Rozelle NSW 2039, 0 br Studio, Ray White Drummoyne | $377,000 |
| Melbourne | 2/12 Grange Rd, Carnegie VIC 3163, 2 br Unit, Woodards Elsternwick | $265,000 |
| Adelaide | 11/132 Conyngham St, Glenunga SA 5064, 1 br Unit, HAR Sheppard Property RLA 211280 | $190,000 |
| Brisbane | 32 Kim St, Marsden QLD 4132, 3 br House, Cromurcon Professional Real Estate | $460,000 |
| Canberra | 33 Beaumaris St, Conder ACT 2906, 3 br House, Blackshaw Tuggeranong | $627,500 |
