This article is from the Australian Property Journal archive
AUCTION listings dipped slightly on the weekend despite the lockdowns in Sydney, Brisbane and Melbourne.
National
Despite Melbourne and Brisbane entering new lockdowns and Sydney in its sixth week, listings remain above 2,000 properties across Australia.
According to Domain, there were 2,100 listings, 1,104 auctions and 829 sales, resulting in a clearance rate of 75.1%. The fresh Melbourne lowdown saw the number of withdrawn also increased slightly to 210 properties.
Sales volumes totalled $684.1 million and the median house and unit sale prices were $1,192,000 and $796,000.
In the previous weekend, clearances were 73.8% from 2,205 listings, 1,320 auctions and 974 sales, totalling $895.5 million. Last year the rate was 58.3% from 873 listings, 841 auctions and 490 sales totalling $571.2 million.
Sydney
The auction market dipped slightly last weekend. According to Domain, of the 512 properties listed, 410 were auctioned and 334 sold, resulting in a high clearance rate of 81.5% – which is above the August norm of 68%.
Sales totalled $336 million and the median house and unit sale prices were $1,605,000 and $995,000.
Clearance rates improved from the previous weekend’s 72.6% where there were 625 listings, 544 auctions and 395 sales totalling $446.5 million. Last year the rate was 58.7% from 561 listings, 526 auctions and 309 sales totalling $421.4 million.
Melbourne
Following one week of easing restrictions, Melbourne return to lockdown for the sixth time. As a result, the number of properties withdrawn increased to 129 on the weekend.
Domain reported 1,301 listings, 517 auctions and 351 sales, resulting in a clearance rate of 67.9%.
Sales totalled $238.3 million and the median house and unit sale prices were $972,500 and $710,000.
The market has softened compared to the previous weekend, where the rate was 74.6% from 1,264 listings, 515 auctions and 384 sales totalling $313.8 million. Bu
However, the market is performing better than last year’s lockdown where the rate was 60.5% from only 196 listings, 200 auctions and 121 sales totalling $99.9 million.
The REIV reported a 90% rate from 391 auctions and 353 sales, totalling $394.97 million. At the same time, 149 private sales were recorded totalling $113 million.
Adelaide
After bouncing back strongly following a snap lockdown in the previous weekend, Adelaide clearance rates declined to 81% last weekend.
According to Domain, there were 83 listings, 37 auctions and 30 sales.
Sales totalled $23.55 million and the median sale price was $803,000.
Brisbane
The lockdown had no impact on Brisbane’s market with clearance rates rising to 77% last weekend. According to Domain, of the 113 auctions scheduled, 78 auctions and 60 sales were reported.
Volumes totalled $44.32 million and the median sale price was $1,010,000.
Canberra
It was business as usual in the nation’s capital, with 71 listings, 62 auctions and 54 sales reported, resulting in a strong 87% clearance rate.
Domain reported $41.97 million in sales with a median sale price of $968,000.
| Auction highlights this week Saturday, 7 August 2021 (Source: Domain) | ||
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 4 Gladstone Av, Mosman NSW 2088, 5 br House, Belle Property Mosman | $6,125,000 |
| Melbourne | 61 Kerferd Rd, Albert Park VIC 3206, 4 br House, Greg Hocking Jellis Craig Port Phillip | $3,670,000 |
| Adelaide | 154 Seaview Rd, Henley Beach South SA 5022, 5 br House, RW Henley Beach | $2,120,000 |
| Brisbane | 36 Harris St, Hawthorne QLD 4171, 6 br House, RW Bulimba – Lanya | $3,300,000 |
| Canberra | 4 Spencer St, Turner ACT 2612, 5 br House, Hayman Partners, Projects | $2,450,000 |
| Most affordable | ||
| Sydney | 23/127 Chapel Rd, Bankstown NSW 2200, 2 br Unit, HAR Greenacre | $415,000 |
| Melbourne | 6/5 Eldridge St, Footscray VIC 3011, 2 br Unit, Greg Hocking Footscray | $340,000 |
| Adelaide | 8 Willys St, Munno Para West SA 5115, 3 br House, HAR – Playford | $315,000 |
| Brisbane | 69 Quay St, Bulimba QLD 4171, 5 br House, RW Bulimba – Lanya | $169,000 |
| Canberra | 15/5 Tristania St, Rivett ACT 2611, 2 br Townhouse, Luton Properties Tuggeranong | $570,000 |
