This article is from the Australian Property Journal archive
AUCTION listings and sales declined further last weekend due to the continued lockdown, however there is confidence of a market recovery as restrictions on private real estate inspections in Melbourne are lifted.
National
Despite the lockdowns, a tale of two cities continued with Sydney holding up well whilst Melbourne and Canberra were weak.
According to Domain, there were 1,272 listings, 766 auctions and 613 sales totalling $568.5 million. The median house and unit sale prices were $1,250,000 and $896,000. However, the clearance rate increased to 80%.
In the previous weekend clearances were 78.3% from 1,152 listings, 805 auctions and 630 sales totalling $611.4 million. This time last year the rate was 65.4% from 718 listings, 682 auctions and 446 sales totalling $627.3 million.
Sydney
Sydney clearances increased further to 83.7% on the weekend despite higher listings. Of the 569 homes on offer, 423 went under the hammer and 354 sold for $409.4 million. The median house and unit sale prices were $1,730,000 and $920,000.
The market is holding up, last weekend the rate was 79.5% from 510 listings, 453 auctions and 360 sales totalling $404.3 million, whilst last year the rate was 65.4% from 580 listings, 546 auctions and 357 sales totalling $553.1 million.
Melbourne
There was good news for Melbourne in the weeks ahead as the ban on private inspections were eased. But last weekend clearances fell further to 66.7%. Of the 434 homes listed, 195 auctions and 130 sales, along with 56 withdrawals, were reported.
Sale volumes declined further to $85.4 million and the median sale price was $960,500.
Clearances are down significantly on the previous weekend where it was 76.5% from 417 listings, 184 auctions and 140 sales, whilst 34 homes were withdrawn. Sales totalled $109.7 million.
Having said that, the market is faring better compared to last year’s lockdown where the city reported only six auctions and four sales totalling $2.3 million.
Excluding the withdrawals, the REIV reported a 95% clearance rate from 172 auctions and 164 sales for $175.67 million. In addition, 154 homes sold privately for $132 million.
Canberra
Although the nation’s capital reported a 100% clearance rate, market activity is below pre-lockdown. Of the 30 homes listed, 16 auctions and 16 sales were reported, according to Domain. Sales totalled $12.205 million and the median sale price was $891,000.
Corelogic reported 42 private sales.
Brisbane
The auction market continues to go from strength to strength, with clearances of 82% last weekend. There were 107 listings and 62 properties went under the hammer, resulting in 51 sales.
Sales totalled $27.14 million and the median sale price was $945,000.
At the same time, 1,372 homes changes hands privately, according to Corelogic.
Adelaide
Similarly, Adelaide’s spring auction market continues to blossom with clearances rising to a high of 89%, according to Domain. Of the 132 homes listed, 70 auctions and 62 sales were recorded. Sales totalled $34.378 million and the median sale price was $780,000.
Corelogic recorded 299 private sales.
Perth
Western Australia reported a 100% clearance rate from three auctions, as well as 632 private sales, according to Corelogic.
Hobart
There were no auctions held last weekend in Tasmania although 165 properties sold privately.
Darwin
The territory reported a rate of 67% from three auctions as well as 22 private sales.
| Auction highlights this week Saturday, 18 September 2021 (Source: Domain) | ||
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 17 Waratah St, Haberfield NSW 2045, 4 br House, McGrath Leichhardt | $7,020,000 |
| Melbourne | 27 Evesham Rd, Cheltenham VIC 3192, 4 br House, Buxton Mentone | $1,900,000 |
| Adelaide | 69 Beach St, Grange SA 5022, 4 br House, C21 Western Coastal | $1,876,000 |
| Brisbane | 202 Chapel Hill Rd, Chapel Hill QLD 4069, 5 br House, Dixon Estate Agents | $3,205,000 |
| Canberra | 65 Maribyrnong Av, Kaleen ACT 2617, 4 br House, Carter and Co Agents – Braddon | $1,190,000 |
| Most affordable | ||
| Sydney | 26/42 Copeland St, Liverpool NSW 2170, 2 br Unit, Alive Realty | $340,000 |
| Melbourne | 331 McGrath Rd, Wyndham Vale VIC 3024, 3 br House, Ray White Werribee | $450,000 |
| Adelaide | 184 Kelly Rd, Modbury Heights SA 5092, 3 br House, FN Parker Kershaw | $445,000 |
| Brisbane | 117 Brooklands Cct, Forest Lake QLD 4078, 3 br House, HAR Marketplace | $448,000 |
| Canberra | 15/17-31 Margaret Tucker St, Bonner ACT 2914, 3 br Townhouse, LJH Belconnen | $600,000 |
