This article is from the Australian Property Journal archive
AUCTION markets across the country continue to power on, all capital cities reported clearance rates of over 75% with Canberra and Adelaide racing ahead.
National
Clearance rates remain strong despite listings increasing last weekend, according to Domain. Of the 1,391 homes on offer, 965 were auctioned and 789 sold, resulting in a 81.8% clearance rate.
Volumes totalled $721.4 million and the median house and unit sale prices were $1,200,000 and $757,000, respectively.
It is an improvement from the previous weekend where there were 1,085 listings, 1,000 auctions and 780 sales totalling $655.4 million and a 78% rate.
But volumes were below this time last year’s $1.02 billion. Of the 1,375 homes listed, 1,245 was auctioned and 905 sold resulting in a 72.7% clearance rate.
Sydney
Sydney’s market continues to pick up with listings and sales increasing on the weekend.
Of the 551 homes listed, 431 were auctioned and 378 sold with clearance rates of 87.7%. Volumes totalled $429.5 million and the median house and unit sale prices were $1,530,000 and $925,000.
In the previous weekend the rate was 85.3% from 412 listings, 382 auctions and 326 sales totalling $317.7 million. This time last year the rate was 75.1% from 510 listings, 464 auctions and 350 sales totalling $501.8 million.
Melbourne
Despite the snap five-day lockdown announced by the state government, it was largely business as usual in Melbourne. There were 698 homes listed, 439 were auctions and 331 sold under the hammer, resulting in a clearance rate of 75.4%. Volumes totalled $247.1 million and the median house and unit sale prices were $980,000 and $625,000.
The prestige property market defied the lockdown with a five-bedroom house in 16 Park St Brighton selling for $10.15 million.
Although there was an increase in withdrawals with 92 properties withdrawn on the weekend, which is higher than the previous weekend’s 27.
In the previous weekend the rate was 74.6% from 529 listings, 493 auctions and 368 sales totalling $279.9 million and this time last year, it was 72.1% from 686 listings, 617 auctions and 445 sales totalling $433.8 million.
The REIV reported a 95% clearance rate from 292 auctions and 277 sales, totalling $294 million. The institute said 220 auctions were postponed and 264 results were not reported.
At the same time 178 private sales were reported totalling $128 million.
Meanwhile the institute said January 2021 recorded 560 auctions, which is the highest ever for the month.
Canberra
Canberra’s solid run continues with clearances of 85% last weekend. According to Domain, of the 48 homes listed, 41 went under the hammer and 35 sold.
Volumes totalled $24.82 million and the median sale price was $800,000.
According to Corelogic, the rate was 94% from 52 listings, 31 auctions and 29 sales. There were also 65 private transactions.
Adelaide
Adelaide was another strong performer with a 92% clearance rate. From the 46 homes listed, 25 were auctioned and 23 sold, according to Domain. Sales totalled $8.736 million and the median sale price was $660,000.
Corelogic reported a 94% rate from 76 listings, 32 auctions and 30 sales, along with 334 private sales.
Brisbane
Brisbane heated up with a 76% clearance rate on the weekend. Domain reported 48 listings, 29 auctions and 22 sales totalling $11.148 million. The median sale price was $865,000.
Corelogic reported a 65% across Queensland from 134 listings, 43 auctions and 28 sales. There were 1,115 private sales.
Perth
In Western Australia, the rate was 100% from 14 listings, three auctions and three sales. At the same time, 591 homes sold privately, according to Corelogic.
Hobart
Tasmania also reported a 100% rate from one auction and sale. There were also 197 private sales, according to Corelogic.
Darwin
The Northern Territory reported a 100% rate from five listings, two auctions and both sold. There were also 11 private sales, according to Corelogic.
| Auction highlights this week Saturday, 13 February 2021 (Source: Domain) | ||
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 65 Ku-Ring-Gai Av, Turramurra NSW 2074, 5 br House, Chadwick Real Estate Ku-ring-gai | $7,420,000 |
| Melbourne | 16 Park St, Brighton VIC 3186, 5 br House, Marshall White Bayside | $10,150,000 |
| Adelaide | 9/15-17 Featherstone Pl, Adelaide SA 5000, 3 br Unit, Williams Real Estate RLA 247163 | $1,350,000 |
| Brisbane | 13 Hazelmere Pde, Sherwood QLD 4075, 4 br House, Hood Estate Agents | $1,775,000 |
| Canberra | 52 Jansz Cr, Griffith ACT 2603, 4 br House, Luton Properties – Manuka | $2,370,000 |
| Most affordable | ||
| Sydney | 38/24-30 Fairmount St, Lakemba NSW 2195, 2 br Unit, Ray White Punchbowl | $398,000 |
| Melbourne | 201/6 John St, Box Hill VIC 3128, 1 br Unit, RW Forest Hill | $122,500 |
| Adelaide | 21 Eldon St, Croydon Park SA 5008, 3 br House, RW Glenelg | $485,000 |
| Brisbane | 11 Beechcroft St, Coopers Plains QLD 4108, 3 br House, RW Annerley | $543,000 |
| Canberra | 21 Summerville Cr, Florey ACT 2615, 3 br House, LJH Belconnen | $485,000 |
