This article is from the Australian Property Journal archive
THE lockdowns in Greater Sydney, South Australia and Victoria have impacted the auction market.
National
Clearance rates and auction sales were weaker across Australia because of 13 million people across three capital cities in lockdown.
According to Domain, listings also declined on the weekend. There were 1,944 homes listed, of which 1,181 went under the hammer and 821 sold, resulting in a preliminary clearance rate of 69.5%.
Volumes totalled $649.5 million, the median house and unit sale prices were $1,117,500 and $740,000.
Sales are down significantly compared to the previous weekend’s $978.8 million, where there were 2,178 listings, 1,657 auctions and 1,170 sales.
Last weekend’s sales are on par with last year’s $641.9 million when Victoria was under lockdown, where there were 1,166 listings, 1,103 auctions and 586 sales.
Sydney
Sydney’s market continues to feel the impact of the lockdown with listings falling further to 566 properties last weekend. Domain reported 404 auctions and 291 sales resulting in a 72% clearance rate.
Sales fell to $286.9 million and the median house and unit sale prices were $983,000 and $685,000.
This is down from the previous weekend’s $504.6 million, where there were 870 listings, 668 auctions and 493 sales resulting in a 73.8% clearance rate. Last year the rate was 58.5% from 533 listings, 504 auctions and 295 sales totalling $396.5 million.
Melbourne
Melbourne auction sales fell further to only $274.8 million last weekend. Of the 1,120 homes listed, 185 were withdrawn. There were 605 auctions and 399 sales reported, resulting in a 66% clearance rate.
Clearances were similar to the previous weekend’s 66.8% where there were 1,062 listings, 780 auctions and 521 sales totalling $362.6 million.
However this lockdown market is faring better than last year’s, where the rate was 46.1% from 517 listings, 488 auctions and 225 sales totalling $189.8 million.
Canberra
Canberra continues to defy the national slowdown with clearance rates rebounding to 90%. According to Domain, of the 69 homes listed, 62 went under the hammer and 56 sold.
Sales totalled $51.213 million and the median sale price was $905,000.
Brisbane
Brisbane’s clearances weakened to 69%. Domain reported 98 listings, 72 auctions and 50 sales totalling $24.994 million. The median sale price was $987,000.
Adelaide
The lockdown also impacted Adelaide with clearances falling to 66%. Of the 91 homes listed, 38 were auctioned and 25 sold totalling $11.608 million. The median sale price was $816,500.
| Auction highlights this week Saturday, 24 July 2021 (Source: Domain) | ||
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 25 South St, Strathfield NSW 2135, 6 br House, Richard Matthews RE | $5,650,000 |
| Melbourne | 24 McGregor St, Middle Park VIC 3206, 4 br House, Belle Property Albert Park | $3,650,000 |
| Adelaide | 10 Stanhope St, West Beach SA 5024, 3 br House, RW Henley Beach | $1,620,000 |
| Brisbane | 11 Pavo St, Camp Hill QLD 4152, 4 br House, Place Estate Agents – Bulimba | $1,650,000 |
| Canberra | 27/11 Sydney Av, Barton ACT 2600, 4 br Unit, Blackshaw Manuka | $3,350,000 |
| Most affordable | ||
| Sydney | 10/712 Princes Hwy, Kogarah NSW 2217, 2 br Unit, RW Rockdale | $605,000 |
| Melbourne | 6/45 Oakleigh Rd, Carnegie VIC 3163, 1 br Unit, Barry Plant Mordialloc | $250,000 |
| Adelaide | 17 Sunnymeade Dr, Aberfoyle Park SA 5159, 3 br House, RW Unley | $530,000 |
| Brisbane | 28 Denise St, Deception Bay QLD 4508, 3 br House, Coronis Moreton Bay & Peninsula | $305,000 |
| Canberra | 59/40 Philip Hodgins St, Wright ACT 2611, 1 br Unit, Blackshaw Queanbeyan & Jerrabomberr | $382,500 |
