This article is from the Australian Property Journal archive
AUCTION clearance rates were above 80% last weekend, led by Sydney where almost nine out of 10 homes sold under the hammer.
National
The clearance rate across Australia last weekend was 81.7%, according to Domain. Of the 1,073 homes listed, 769 were auctioned and 628 sold.
Most capital cities reported clearance rates of 75% with Sydney at 89%, followed by Adelaide with 82%, Melbourne with 78% and Canberra with 76%. Brisbane reported a 59% rate.
Volumes totalled $524.4 million and the median house and unit sale prices were $1,100,000 and $725,000.
In the previous weekend the rate was 76% from 693 listings, 651 auctions and 495 sales totalling $389.3 million. This time last year clearances were 69.5% from 990 listings, 902 auctions and 627 sales totalling $628.9 million.
But last weekend’s sales are still down on the 2017’s figure of $874.8 million where there were 1,253 listings, 1,133 auctions and 891 sales.
Sydney
Buyers turned up on the weekend with their wallets open with almost nine out of 10 homes changing hands. There were 408 listings, 293 auctions and 260 sales, according to Domain.
Volumes totalled $256.6 million and the median house and unit sale prices were $1,405,000 and $910,000.
In the previous weekend the rate was 78.3% from 251 listings, 240 auctions and 188 sales totalling $177.6 million and last year it was 76.9% from 402 listings, 377 auctions and 290 sales totalling $345.6 million.
Melbourne
Despite higher listings Melbourne clearance rates held up. According to Domain, the rate was 78.4% from 523 listings, 393 auctions and 308 sales.
Volumes totalled $232.7 million and the median house and unit sale prices were $982,500 and $655,000.
In the previous weekend the rate was 78.7% from 309 listings, 291 auctions and 229 sales totalling $173.4 million and last year it was 67.1% from 403 listings, 359 auctions and 241 sales totalling $205.6 million.
The REIV reported a 82% rate from 420 auctions and 344 sales whilst 76 homes passed in, 29 on a vendor bid. In the previous weekend it was 82% from 358 auctions and last year it was 76% from 389 auctions.
The REIV also recorded 237 private sales totalling $169 million.
Canberra
The national capital posted a 76% rate from 37 listings, 21 auctions and 16 sales, according to Domain. Volumes totalled $10.192 million and the median sale price was $842,000.
Corelogic reported 68 private sales.
Brisbane
Brisbane reported a 59% clearance rate from 49 listings, 29 auctions and 17 sales. Volumes totalled $10.965 million and the median sale price was $856,500, according to Domain.
Across Queensland the rate was 72 from 142 listings, 64 auctions and 45 sales. According to Corelogic, there were also 1,247 private sales.
Adelaide
Adelaide returned a 82% rate last weekend. Of the 56 homes listed, 33 went under the hammer and 27 sold, according to Domain.
Volumes totalled $13.846 million and the median sale price was $682,500.
Corelogic also reported 300 private sales.
Perth
Western Australia emerged out of a brief lock with a 75% clearance rate. According to Corelogic, there were 20 listings, four auctions and three sales. At the same time, 454 homes sold privately.
Hobart
Tasmania reported a 100% clearance rate from one auction. Meanwhile 176 properties sold privately, according to Corelogic.
Darwin
The Northern Territory also reported a 100% rate from three auctions and three sales, as well as 16 private transactions, according to Corelogic.
| Auction highlights this week Saturday, 6 February 2021 (Source: Domain) | ||
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 19A Undercliff Rd, Freshwater NSW 2096, 7 br House, Cunninghams Property | $3,750,000 |
| Melbourne | 12 Devon St, Box Hill South VIC 3128, 5 br House, Fletchers Blackburn | $2,710,000 |
| Adelaide | 25 Young St, Seacliff SA 5049, 3 br House, LJH Glenelg | $1,351,000 |
| Brisbane | 6 Albert St, Camp Hill QLD 4152, 5 br House, Place Estate Agents Ascot | $1,740,000 |
| Canberra | 113 Walker Cr, Narrabundah ACT 2604, 5 br House, Luton Properties – Manuka | $1,700,000 |
| Most affordable | ||
| Sydney | 3/54 Holloway St, Pagewood NSW 2035, 2 br Unit, LJH Maroubra | $370,000 |
| Melbourne | 7/6 Garnet St, Brunswick VIC 3056, 1 br Unit, Nelson Alexander Brunswick | $265,000 |
| Adelaide | 1 Argent St, Elizabeth Grove SA 5112, 3 br House, RW Gawler | $200,000 |
| Brisbane | 1111/16 Hamilton Pl, Bowen Hills QLD 4006, 1 br Unit, Plum Property | $248,000 |
| Canberra | 1/90 Blacket St, Downer ACT 2602, 1 br Townhouse, Belle Property Canberra | $395,000 |
