This article is from the Australian Property Journal archive
AUCTION clearances return to boom-time market conditions following the Easter long weekend.
National
According to Domain, the clearance rate nationally was 79.3% from 1,909 listings, 1,390 auctions and 1,102 sales. Volumes totalled $967.4 million, and the median house and unit sale prices was $1,102,000 and $730,000.
In the previous weekend and last year, the market paused for Easter.
Archistar chief economist Dr Andrew Wilson said listings numbers were predictably lower compared to the auctions conducted over Super Saturday a fortnight ago with markets distracted by school holidays.
“Auction numbers however remained relatively robust with vendors keen to take advantage of current strong buyer competition for available property and higher prices.
“This year’s pre-Easter weekend auction markets have delivered record results with the next two months run up to winter likely to produce similar outcomes – although Melbourne and Sydney have indicated early signs of easing,” he added.
Sydney
Sydney reported a preliminary clearance rate of 83.2%. There were 785 listings and 588 auctions were reported with 489 homes selling under the hammer, according to Domain.
Volumes totalled $512.1 million, and the median house and unit sale prices were $1,537,000 and $860,000.
Wilson said the Sydney market delivered another strong result for sellers but the clearance rate was the lowest recorded over autumn so far.
Last weekend’s result was also well below the 90.1% weekend average of the past month.
According to Archistar, the clearance rate for houses was 83.1%, with units 80.4%. The Northern Beaches was the only Sydney region to record a clearance rate above 90% at the weekend at 90.1% with the next highest the South and the Upper North Shore each at 88.9%.
The most expensive property sold was a three-bedroom house at 9 Fraser St Randwick that sold for $8,500,000 and cheapest was a three-bedroom unit at 5/19 Dudley St Punchbowl that sold for $407,000.
Melbourne
Melbourne reported a preliminary rate of 73.7%, according to Domain. Of the 905 homes listed, 650 were auctioned and 479 sold. Volumes totalled $371.4 million and the median house and unit sale prices was $951,000 and $589,250.
Wilson said the Melbourne market recorded its lowest Saturday clearance rate for the year so far following the resumption of activity from the Easter break. The clearance rate for houses was 83.1%, with units 80.4%.
He added that it is well below the season-high of 83.7% recorded a fortnight ago over Super Saturday and the first result below 80% record this year.
According to Archistar, the outer east was the top performing region at the weekend with a clearance rate of 83.5% followed by the north with 82.5% and the inner south at 82.3%.
The most expensive property sold was a four-bedroom house at 209 Brougham St Kew that sold for $2,925,000 and cheapest was a two-bedroom unit at 36 Valerie St Lalor that sold for $362,500.
The REIV reported a 80% clearance rate from 763 auctions and 610 sales whilst 153 were passed in, 65 on a vendor bid. Volumes totalled $607 million. There were also 269 private transactions totalling $257 million.
Canberra
Canberra outperformed last weekend, recording a 92% clearance rate, according to Domain. There were 67 listings, 53 auctions and 49 sales.
Volumes totalled $39.964 million, and the median sale price was $890,000.
Corelogic reported a clearance rate of 95% in the ACT from 63 listings, 38 auctions and 36 sales. At the same time, 39 homes sold privately.
Brisbane
Brisbane was another strong performer with a clearance rate of 88%. According to Domain, there were 79 listings, 52 auctions and 46 sales. Volumes totalled $21.852 million, and the median sale price was $766,000.
Across Queensland the rate was 78% from 292 listings, 90 auctions and 70 sales. At the same time, 1,176 homes sold privately, according to Corelogic.
Adelaide
Adelaide also posted a high clearance rate of 83%. According to Domain, of the 73 homes listed, 47 went under the hammer and 39 sold totalling $22.113 million. The median sale price was $717,000.
Corelogic reported a 81% rate across South Australia. There were 96 listings, 32 auctions and 26 sales whilst 295 properties sold privately.
Perth
Western Australia recorded a 67% clearance, according to Corelogic. There were 21 listings, auctions and two sales. There were also 503 private sales.
Hobart
Tasmania reported a 100% rate from one auction and 144 private sales, according to Corelogic.
Darwin
The Northern Territory had 100% rate from one auction and 20 private sales, according to Corelogic.
| Auction highlights this week Saturday, 10 April 2021 (Source: Domain) | ||
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 9 Fraser St, Randwick NSW 2031, 5 br House, McGrath – Coogee | $8,500,000 |
| Melbourne | 209 Brougham St, Kew VIC 3101, 3 br House, Langwell Harper | $2,925,000 |
| Adelaide | 91 Cambridge Tce, Malvern SA 5061, 3 br House, Ouwens Casserly | $2,750,000 |
| Brisbane | 20 Mountjoy St, Petrie Terrace QLD 4000, 5 br House, Glynis Austin Properties | $2,750,000 |
| Canberra | 62 Raymond St, Ainslie ACT 2602, 4 br House, Independent Our Team | $1,955,000 |
| Most affordable | ||
| Sydney | 5/19 Dudley St, Punchbowl NSW 2196, 2 br Unit, Ray White Punchbowl | $407,000 |
| Melbourne | 36 Valerie St, Lalor VIC 3075, 1 br Unit, HAR Rata & Co | $362,500 |
| Adelaide | 23 Grevillia Dr, Parafield Gardens SA 5107, 3 br House, Xsell Property – RLA267857 | $382,500 |
| Brisbane | 86 Jean St, Woodridge QLD 4114, 3 br House, Raine and Horne Shailer park | $286,000 |
| Canberra | 5/201 Goyder St, Narrabundah ACT 2604, 2 br Unit, HAR Brindabella | $440,500 |
