This article is from the Australian Property Journal archive
AUCTION activity slowed right back down this weekend, with the AFL Grand Final in Victoria and Labour Day across many states.
According to the latest figures from Domain, nationally there were 787 auctions listed, down from 2,011 the week before with 513 auctions reported down from 1,722.
At 59.3%, the national clearance rate was down from last week’s revised 65.1%, with 304 properties selling at auction down from 1,121 in the week prior, with 130 properties withdrawn, down from 304.
Compared to the same week last year, the clearance rate was up from 57.6%, where 1,213 properties were listed, 1,064 auctions were reported and 613 were sold.
The total value sold this week was at $336.5 million, with houses bringing in an auction median of $1,417,500 and units at $890,000.
This was down from last week’s $980.4 million, with the auction median for houses at $1,300,000 and units at $860,000.
Compared to the same week last year, the total value sold was down from $680.4 million, with the house auction median at $1,150,000 and the unit auction median at $755,000.
According to CoreLogic’s results, auction activity was cut in half across the combined capitals, after the busiest week since easter in the capitals the week before.
In Sydney the clearance rate was down from 68.8% to 62.3%, with 545 reported auctions, 92 withdrawals and 355 properties selling.
Sydney’s total value sold at auction was down to $273.5 million this week, with an auction median of $1,650,000 for houses and $972,500 for units.
With activity up from the same week last year, where 246 auctions were reported, with 133 properties selling for a total value of $206.7 million.
This week’s top auction result was a four-bedroom, three-bathroom house at 22 Nelson Street, Annandale.
Sold by Matthew Carvalho, listing agent from Ray White Erskineville, the home is a converted automotive workshop, which was subdivided into three warehouses in 2014.
In Melbourne the clearance rate was down from 63.6% to 52.2%, with just 67 reported auctions, 18 withdrawals and only 35 properties selling.
The total value sold in Melbourne was $32.1 million, or an auction median of $1,096,500 for houses and no unit median reported.
While in Adelaide, the clearance rate was far above the national average at 81%, with 52 auctions reported, five withdrawn and 42 properties sold, for $19,150,000 in total sales and a median of $835,000.
In Brisbane the clearance rate came in at 52%, with 42 auctions reported, six withdrawals and 22 sold, for $5,925,000 in total sales
Finally, Canberra’s clearance rate was at 50%, with 56 auctions reported, 8 withdrawn and 28 properties sold for a total value at $7,730,200.
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 22 Nelson St, Annandale NSW 2038, 4 br House, Ray White Erskineville | Alexandria | Glebe | Surry Hills | $5,650,000 |
| Melbourne | 21 Summit Rd, Burwood VIC 3125, 5 br House, Ray White Burwood | $2,610,000 |
| Adelaide | 14 Keyes St, Linden Park SA 5065, 4 br House, Harris Real Estate | $1,430,000 |
| Brisbane | 37 Ninth Av, St Lucia QLD 4067, 5 br House, Plum Property | $1,552,000 |
| Canberra | 12 Broinowski Pl, Isaacs ACT 2607, 4 br House, Blackshaw Manuka | $1,650,000 |
| Most affordable | ||
| Sydney | 11/144 Blaxland Rd, Ryde NSW 2112, 1 br Unit, Belle Property Ryde | $435,000 |
| Melbourne | 18 Colby Lk, Derrimut VIC 3026, 3 br House, My Agent Real Estate | $650,000 |
| Adelaide | 40 Evans St, Rosewater SA 5013, 3 br House, Ray White Woodville | $598,000 |
| Brisbane | 14/96 Smith Rd, Woodridge QLD 4114, 2 br Townhouse, RealtyMax | $330,000 |
| Canberra | 82/2 Mcmichael Tce, Denman Prospect ACT 2611, 2 br Unit, Blackshaw Weston Creek Molonglo | $600,000 |
