This article is from the Australian Property Journal archive
AUCTION activity rebounded after last week’s unofficial long weekend, as Melbourne recorded a massive clearance rate rebound.
According to the latest figures from Domain, nationally there were 1,338 auctions listed, up from 1,088 the week before, with 883 auctions reported down from 959.
At 71.6%, the national clearance rate was up on last week’s 66.0%, with 632 properties selling at auction virtually unchanged from 633 in the week prior, with 100 properties withdrawn, up from 96.
Compared to the same week last year, the clearance rate was up significantly from 61.6%, where 2,192 properties were listed, 1,987 auctions reported and 1,233 sold.
The total value sold this week was $552.7 million, with houses bringing in an auction median of $1,118,000 and units at $725,000.
This was down from last week’s $560.2 million, with the auction median for houses down from $1,180,000 and units from $776,500.
Compared to the same week last year, the total value sold was down significantly from $1624.8 million, with the house auction median at $1,232,000 and the unit auction median at $820,000.
In Sydney the clearance rate was up from 67.4% to 68.3%, with 303 reported auctions, 57 withdrawals and 207 properties selling.
Sydney’s total value sold at auction was down to $218.1 million this week, with an auction median of $1,530,000 for houses, while units were down to $921,000.
This was again down from the same week last year, where 713 auctions were reported, with 411 properties selling for a total value of $734.5 million.
In Melbourne the clearance rate was also up from 67.3% to 76.4%, with 449 reported auctions, 34 withdrawals and 343 properties selling.
The total value sold in Melbourne was $285.8 million, or an auction median of $1,024,000 for houses and units at $653,500.
By comparison, the same week last year in Melbourne saw 997 auctions reported, with 637 sold for a total value of $712.7 million.
CoreLogic had Melbourne’s preliminary clearance rate at 77.7%, its the greatest rate since mid-October 2021 where it was 80.1%.
While in Adelaide, the clearance rate was again up on the national rate at 81%. With 47 auctions reported, with one withdrawn and 38 properties sold, for $26,507,600 in total sales and a median of $725,000.
In Brisbane the clearance rate came in at 53%, with 58 auctions reported, four withdrawals and 31 sold, for $16,740,500 in total sales and a median of $797,500.
Finally, Canberra’s clearance rate was at 57%, with 30 auctions reported, four withdrawn and 17 properties sold for a total value at $8,095,000.
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 807/57 Upper Pitt St, Kirribilli NSW 2061, 2 br Unit, DiJones Neutral Bay | $5,460,000 |
| Melbourne | 20 Silverdale Rd, Eaglemont VIC 3084, 3 br House, Miles Real Estate Ivanhoe | $2,890,000 |
| Adelaide | 15 Stannington Av, Heathpool SA 5068, 4 br House, Booth Real Estate | $1,914,000 |
| Brisbane | 19 Kivas St, Tarragindi QLD 4121, 5 br House, Atlas by LJ Hooker Brisbane InnerSouth | $2,820,000 |
| Canberra | 51 Doris Turner St, Forde ACT 2914, 4 br House, MARQ Property | $1,335,000 |
| Most affordable | ||
| Sydney | 5/48 Reynolds Av, Bankstown NSW 2200, 2 br Unit, McGrath Bankstown | $442,000 |
| Melbourne | 103/503 Keilor Rd, Niddrie VIC 3042, 1 br Unit, Brad Teal Woodards Essendon | $352,500 |
| Adelaide | 25 Linwood Cr, Parafield Gardens SA 5107, 3 br House, RW Salisbury | $451,000 |
| Brisbane | 13 Scarborough Tce, Macleay Island QLD 4184, 1 br House, Bay Islands Real Estate | $140,000 |
| Canberra | 9 Franks Pl, Kambah ACT 2902, 3 br House, Blackshaw Manuka | $691,000 |
