This article is from the Australian Property Journal archive
THE national clearance rate saw a near 5% leap this week, as Sydney recorded its strongest rate in a year.
According to the latest figures from Domain, nationally there were 1,501 auctions listed, after 1,250 the week before, with 1,068 auctions reported down marginally from 1,102.
At 67.6%, the national clearance rate saw a healthy boost from last week’s 62.8%, with 722 properties selling at auction up from 692 in the week prior, with 137 properties withdrawn, up from 121.
Compared to the same week last year, the clearance rate was down from 71.9%, where 2,295 properties were listed, 2,165 auctions reported and 1,556 sold.
The total value sold for the week was $652.1 million, with houses bringing in an auction median of $1,235,000 and units at $827,500.
The total was up on last week’s $640.1 million, with the auction median for houses stable and units up from $810,500.
Compared to the same week last year, the total value sold was down significantly from $2437.0 million, with the house auction median at $1,411,000 and the unit auction median at $870,000.
In Sydney the clearance rate saw a jump from 66.5% to 75.1%, with 374 reported auctions, 63 withdrawals and 281 properties selling.
While according to CoreLogic’s preliminary figures, Sydney recorded its strongest clearance in a year at 78.0%.
The city’s success story for the week was the $7.15 million sale under the hammer of 1601/21 Cadigal Avenue in Pyrmont. Sitting on McCafferys Hill, the highest point of the Pyrmont peninsula, the single three-bedroom penthouse property within McCafferys Tower offered buyers 244sqm of indoor/outdoor living area including a private 87sqm terrace.
In addition to secure lift access to side-by-side parking and lock-up storage cage and an onsite heated swimming pool, gym, sauna, spa and tennis courts.
However, Sydney saw a diminished total value sold of $298.7 million this week, with an improved auction median of $1,825,000 for houses and $1,021,500 for units.
This was again well down from the same week last year, where 784 auctions were reported, with 567 properties selling for a total value of $1154.6 million.
In Melbourne the clearance rate was also up from 60.6% to 63.5%, with 553 reported auctions, 66 withdrawals and 351 properties selling.
The total value sold in Melbourne was $289.7 million, or an auction median of $1,040,000 for houses and units at $639,500.
By comparison, the same week last year in Melbourne saw 1,056 auctions reported, with 738 sold for a total value of $1004.0 million.
While in Adelaide, the clearance rate was up on the national rate at 75%. With 44 auctions reported, with one withdrawn and 33 properties sold, for $23,717,500 in total sales and a median of $809,000.
In Brisbane the clearance rate was stable at 59%, with 49 auctions reported, three withdrawals and 29 sold, for $19,752,888 in total sales and a median of $880,000.
Finally, Canberra’s clearance rate was improved at 60%, with 50 auctions reported, four withdrawn and 30 properties sold for a total value at $22,328,500 and a median of $1,102,500.
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 1601/21 Cadigal Av, Pyrmont NSW 2009, 3 br Unit, Morton Pyrmont | $7,150,000 |
| Melbourne | Mawson St, Kew VIC 3101, 5 br House, Kay & Burton – Hawthorn | $4,408,000 |
| Adelaide | 94 Richmond Rd, Hawthorn SA 5062, 3 br House, TOOP+TOOP Real Estate | $2,150,000 |
| Brisbane | 43/208 Adelaide St, Brisbane City QLD 4000, 4 br Unit, RW – New Farm | $3,825,000 |
| Canberra | 4 Willcock Pl, Curtin ACT 2605, 4 br House, Independent Woden | $2,875,000 |
| Most affordable | ||
| Sydney | 7/9 Viola St, Punchbowl NSW 2196, 2 br Unit, Bankstown Richardson & Wrench | $316,000 |
| Melbourne | 7/39 Murray St, Brunswick West VIC 3055, 1 br Unit, Walshe & Whitelock Pty Ltd | $300,000 |
| Adelaide | 63 Carol Dr, Para Hills SA 5096, 3 br House, Exp Australia Pty Ltd | $425,000 |
| Brisbane | 2/228 Vulture St, South Brisbane QLD 4101, 2 br Unit, RW Rural Queensland | $505,000 |
| Canberra | 4/38 Watson St, Turner ACT 2612, 2 br Unit, MARQ Property | $676,500 |
