This article is from the Australian Property Journal archive
AUCTIONS bounced back across Australia and all capital cities reported clearance rates above 80%, except for Melbourne.
National
Listings declined further on the weekend dragged down by Melbourne’s underperformance, according to Domain. Of the 1,155 homes listed, 775 auctions were held and 629 sold, resulting in a preliminary clearance rate of 83.3%.
Sales totalled $607.6 million and the median house and unit sale prices were $1,285,000 and $927,500.
Listings and sales were lower than previous weekend’s 1,276, which saw 974 auctions and 755 sales totalling $700 million, whilst clearances were 77.5%.
This time last year there were 897 listings, 854 auctions and 546 sales totalling $777.9 million, resulting in a 63.9% clearance rate.
Sydney
Sydney activity continues to improve. There were 641 listings, 467 auctions and 397 sales reported, resulting in a preliminary rate of 85%. Sales totalled $440.8 million and the median house and unit sale prices were $1,780,000 and $1,010,000.
The results are higher than previous weekend’s 80.5% clearances from 570 listings, 517 auctions and 416 sales totalling $479.3 million. But sales were lower than last year’s $700.3. Of the 718 homes listed, 674 went under the hammer and 444 sold, resulting a 65.9% clearance rate.
Melbourne
The national market continues to be dragged down by Melbourne. Despite private inspections resuming, listings fell to 269 homes last weekend. 137 auctions and 104 sales were reported. Volumes totalled $83.3 million and the median sale price was $912,500.
This is down from the previous weekend’s 67.1% from 435 listings, 225 auctions and 151 sales totalling $104.7 million.
But it is performing better than last year’s lockdown where the rate was only 22.6% from 31 auctions and seven sales totalling $2.7 million.
The REIV reported a 92% clearance rate from 185 auctions and 170 sales totalling $181.30 million. There were also 102 private sales totalling $85 million.
Canberra
Canberra’s market rebounded with clearance rates of 84%, according to Domain. Of the 59 homes listed, 43 auctions and 36 sale were reported.
Sales totalled $31.353 million and the median sale price was $946,000.
Brisbane
Brisbane also reported a strong rate of 86% from 96 listings, 49 auctions and 42 sales. Volumes totalled $20.674 million and the median sale price was $1,220,000.
Adelaide
Adelaide reported a 85% rate. Of the 90 properties listed, 59 went under the hammer and 50 sold. Sales totalled $31.481 million and the median sale price was $736,500.
Perth
Due to the AFL grand final, Western Australia reported only one auction sale and 616 private sales, according to Corelogic.
Hobart
Similarly, Tasmania reported a 100% rate from one auction sale along with 214 private sales.
Darwin
The Northern Territory recorded a 67% rate from three auctions and 29 homes sold privately.
| Auction highlights this week Saturday, 25 September 2021 (Source: APM) | ||
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 25 Evans St, Bronte NSW 2024, 4 br House, R&W ElizabethBay/Potts Pt | $7,250,000 |
| Melbourne | 16 Ames Av, Carnegie VIC 3163, 4 br House, Buxton Bentleigh | $2,645,000 |
| Adelaide | 22 Glenunga Av, Glenunga SA 5064, 5 br House, Harris Real Estate – Copper Coast R | $2,060,000 |
| Brisbane | 7 Wendell St, Norman Park QLD 4170, 4 br House, Place Estate Agents – Bulimba | $3,410,000 |
| Canberra | 2 Darrell Pl, Chapman ACT 2611, 5 br House, Hayman Partners, Projects | $1,890,000 |
| Most affordable | ||
| Sydney | 803/13 Spencer St, Fairfield NSW 2165, 1 br Unit, McGrath – Liverpool | $337,000 |
| Melbourne | 2/10 Darus Ct, Hoppers Crossing VIC 3029, 3 br House, Reliance Real Estate | $490,000 |
| Adelaide | 14 Grayling St, Elizabeth East SA 5112, 4 br House, Boffo Real Estate | $420,000 |
| Brisbane | 46 Illawong Street, Zillmere QLD 4034, 4 br House, RW Aspley | $685,500 |
| Canberra | 714/86-88 Northbourne Av, Braddon ACT 2612, 2 br Unit, LJH Belconnen | $575,000 |
