This article is from the Australian Property Journal archive
LISTINGS surged nationally and more than $1 billion worth of homes sold under the hammer on the weekend.
National
Following the Queen’s Birthday holiday and Victoria emerging out of lockdown, the number of listings jumped to 2,888 across Australia with Melbourne accounting for the lion share.
According to Domain, 1,477 auctions and 1,127 sales were reported resulting a preliminary clearance rate of 76.3%.
Sales totalled $1.047 billion, and the median house and unit sale prices were $1,244,000 and $864,000.
In the previous the clearance rate was only 66.7% as the market took a break for the long weekend. There were 1,416 listings, 938 auctions and 626 sales reported totalling $591.7 million.
This time last year national lockdown restrictions were eased, as a result the market saw 995 listings, 945 auctions and 540 sales totalling $613.3 million. The clearance rate was a low 57.1%. However, this was also the same weekend the Victorian government reinstated restrictions to combat a second wave of COVID-19 outbreaks.
Archistar chief economist Dr Andrew Wilson described last weekend’s “extraordinary winter results.”
“Saturday’s auction numbers were the second highest for the year so far and just behind the 3118 recorded over the pre-Easter Super Saturday on April 27th.
“All capitals reported sharp increases in clearance rates at the weekend except Adelaide and Canberra that nonetheless produced more boomtime results for sellers.
Saturday’s national result was also the highest recorded for six weeks – since May 8th, with the usual winter slowdown in activity yet to impact markets.” Wilson said.
Sydney
Clearance rates were higher last weekend despite a surge in listings. According to Domain, of the 1,036 homes listed, 742 auctions and 571 sales were reported, resulting in a 77% clearance rate.
Volumes totalled $626.3 million and the median house and unit sale prices were $1,620,000 and $965,000.
The most expensive property sold on the weekend was an absolute waterfront five-bedroom manor at 8B Beatty St Balgowlah Heights for $8.57 million.
Wilson said the Northern Beaches was yet again Sydney’s top performing region at the weekend with a clearance rate of 85.7%, followed by the North West 85.8% and the Inner West 84.7%. The West recorded the lowest regional result at 73.6%. The clearance rate for houses was 81.0%, with units just below at 80.1%.
The previous weekend reported a 69.7% clearance rate from 580 listings, 501 auctions and 349 sales totalling $374.6 million. Last year, there were 425 listings, 397 auctions and 242 sales totalling $336.6 million.
Melbourne
After emerging from Queen’s Birthday weekend and snap lockdown restrictions easing, listings soared to 1,566 properties on the weekend. According to Domain, there were 523 auctions and 380 sales reported so far, resulting in a 72.7% clearance rate. Sales totalled $300.5 million, the median house and unit sale prices were $999,000 and $730,000.
Wilson said the Melbourne auction market bounced back strongly at the weekend following the distractions of last weekend’s Queens Birthday holiday and the easing of covid shutdown restrictions.
In the previous weekend clearances were 61.7% from 641 listings, 269 auctions and 166 sales totalling $135.1 million. Last year it was 54.7% from 472 listings, 455 auctions and 249 sales totalling $236.1 million.
“Melbourne reported a record June Saturday auction day reflecting underlying seller confidence in current robust market conditions. A remarkable 1566 auctions were reported which, although predictably higher than the previous Queens Birthday holiday weekend record offering of 641, smashed the June record 1379 set just two weekends ago – and was well above the 480 reported over the same weekend last year.” Wilson said.
The Outer East reported the top regional clearance rate on Saturday with 82.7% followed by the North 80.9% and the West 79.8%. The house clearance rate was 76.8%, with units again well below at 64.9%.
Canberra
Canberra’s market continues to go from strength to strength with auction sales topping $50 million on the weekend, according to Domain. Of the 79 homes listed, 71 went under the hammer and 58 sold, representing a 82% clearance rate.
The median sale price was $875,000.
Brisbane
Brisbane also reported a strong result with a 89% clearance rate. There were 107 listing, 71 auctions and 63 sales. According to Domain, sales totalled $43.109 million and the median sale price was $950,000.
Corelogic reported 1,174 private sales across the state.
Adelaide
Adelaide posted a 79% clearance rate. Of the 100 homes listed, 70 auctions and 55 sales were reported totalling $27.309 million. The median sale price was $780,500, according to Domain.
Corelogic reported 265 private sales.
Perth
Western Australia reported a 100% clearance rate from one auction, whilst 633 properties sold privately, according to Corelogic.
Hobart
Tasmania did not report any auctions on the weekend but 159 homes sold privately, according to Corelogic.
Darwin
The Northern Territory also did not record any auctions but 25 properties changed hands privately.
| Auction highlights this week Saturday, 19 June 2021 (Source: Domain) | ||
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 8B Beatty St, Balgowlah Heights NSW 2093, 5 br House, McGrath Property Management (North) | $8,570,000 |
| Melbourne | 3 Potter St, Black Rock VIC 3193, 4 br House, Buxton Sandringham | $3,741,000 |
| Adelaide | 5 Rodgers Av, Henley Beach South SA 5022, 4 br House, RW Henley Beach | $1,401,000 |
| Brisbane | 154 Watson St, Camp Hill QLD 4152, 5 br House, Place Estate Agents Ascot | $4,022,000 |
| Canberra | 43 Fergusson Cr, Deakin ACT 2600, 4 br House, Luton Properties – Manuka | $2,675,000 |
| Most affordable | ||
| Sydney | 4/47 Fairmount St, Lakemba NSW 2195, 2 br Unit, Challenge Property Group | $336,000 |
| Melbourne | 1/57 Church St, Melton VIC 3337, 2 br Unit, FN Real Estate Melton | $339,500 |
| Adelaide | 12 Cobham Ct, Ingle Farm SA 5098, 4 br House, Open House Real Estate Group | $410,000 |
| Brisbane | 52 Coolmunda St, Marsden QLD 4132, 4 br House, RW Algester | $375,000 |
| Canberra | 1/8 Antis St, Phillip ACT 2606, 2 br Townhouse, Blackshaw Woden | $492,000 |
