This article is from the Australian Property Journal archive
THE combined capital cities have recorded a clearance rate above 70% for the second consecutive week, with the auction market looking perky despite a moderate easing in activity levels.
According to the latest figures from Domain, nationally there were 1,383 auctions listed, down from 1,445 the week before, with 971 auctions reported down from 1,273.
At 74.2%, the national clearance rate was up on last week’s 70.3%, with 720 properties selling at auction down from 895 in the week prior, with 107 properties withdrawn, up from 96.
Compared to the same week last year, the clearance rate was up significantly from 57.5%, where 2,339 properties were listed, 2,165 auctions reported and 1,245 sold.
The total value sold this week was $698.8 million, with houses bringing in an auction median of $1,307,000 and units at $825,000.
This was down from last week’s $817.8 million, with the auction median for houses up from $1,187,000 and units down from $855,000.
Compared to the same week last year, the total value sold was down significantly from $1716.8 million, with the house auction median at $1,290,000 and the unit auction median at $800,000.
In Sydney the clearance rate was improved from 73.5% to 76.3%, with 367 reported auctions, 53 withdrawals and 280 properties selling.
Sydney’s total value sold at auction was down to $351.7 million this week, with an auction median of $1,750,000 for houses and $1,045,000 for units.
With activity down from the same week last year, where 715 auctions were reported, with 381 properties selling for a total value of $682.2 million.
Sydney saw the top auction result this week, with the $7.47 million sale of the six-bedroom, three-bathroom landmark Stockman Manor Estate in Homebush.
Built in circa 1896 on a 1,858sqm lot, the heritage home was sold by Vivek Tailor, Jesse Di Loreto and Matthew Everingham from Richard Matthews Real Estate, with seven registered and three active bidders competing at auction.
The sale set a new suburb residential record, eclipsing the previous benchmark by $2.15 million, as well as surpassing the $6 million reserve.
In Melbourne the clearance rate was also up from 70.5% to 72.6%, with 507 reported auctions, 43 withdrawals and 368 properties selling.
The total value sold in Melbourne was $294.3 million, or an auction median of $1,080,000 for houses and units at $679,000.
By comparison, the same week last year in Melbourne saw 1,071 auctions reported, with 614 sold for a total value of $767.6 million.
While in Adelaide, the clearance rate was just up on the national rate at 79%. With 34 auctions reported, three withdrawn and 27 properties sold, for $18,832,070 in total sales and a median of $852,500.
In Brisbane the clearance rate came in at 67%, with 30 auctions reported, five withdrawals and 20 sold, for $13,150,500 in total sales and a median of $775,000.
Finally, Canberra’s clearance rate was at 76%, with 33 auctions reported, three withdrawn and 25 properties sold for a total value at $20,883,000 and a median of $1,076,500.
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 91-93 Abbotsford Rd, Homebush NSW 2140, 6 br House, Richard Matthews RE | $7,4725,000 |
| Melbourne | 12 Grandview St, Moonee Ponds VIC 3039, 5 br House, Jellis Craig | $4,640,000 |
| Adelaide | 3 Kent St, Hawthorn SA 5062, 5 br House, TOOP+TOOP Real Estate | $3,201,000 |
| Brisbane | 7 East St, Kedron QLD 4031, 5 br House, RW Wilston | $2,650,000 |
| Canberra | 11 Settlement Dr, Duffy ACT 2611, 5 br House, Belle Property Canberra | $2,700,000 |
| Most affordable | ||
| Sydney | 2/320A-338 Liverpool Rd, Enfield NSW 2136, 2 br Unit, Richard Matthews RE | $552,000 |
| Melbourne | 2/23 Main St, Thomastown VIC 3074, 2 br Unit, HAR Coburg | $261,000 |
| Adelaide | 64 Emmerson Dr, Morphett Vale SA 5162, 3 br House, RW Flagstaff Hill-RLA182929 | $506,000 |
| Brisbane | 13 Andrews Ct, Goodna QLD 4300, 3 br House | $440,000 |
| Canberra | 17 Refshauge Cr, Macgregor ACT 2615, 3 br House, Timothy Road | $750,000 |
