This article is from the Australian Property Journal archive
IT was a predictably quieter weekend for the residential property auction market with the AFL and NRL grand finals, and long weekend holidays distracting sellers and buyers.
Sydney
The Sydney market was distracted by the Labour Day long weekend, the start of the school holidays and NRL grand final, and saw considerably fewer listings with 428 properties listed for sale, according to Domain Group’s Australian Property Monitors.
There were 258 auctions and 198 sales reported, resulting in a clearance rate of 65.3%.
The total value of properties sold was $178.5 million with a median house and unit sale price of $1,251,000 and $847,944 respectively.
Activity is well down on the previous weekend, which was Sydney’s first super Saturday, where it recorded 833 listings, 667 auctions and 481 sales, representing a clearance rate of 65.3%, totalling $479.4 million.
In the same weekend last year, the clearance rate was 73.6% from 264 listings, 224 auctions and 184 sales totalling $224 million.
Melbourne
The AFL grand final fever swept the Melbourne market.
As a result, there were only 35 auctions and 29 properties were sold, according to the REIV.
Adelaide
The Adelaide market was also swept up in grand final fever, with only eight listings, six auctions and five sales totalling $1,175,000, according to APM.
Across South Australia, there were 45 listings and 32 auctions were held with six sales recorded in the state.
Canberra
Canberra’s clearance rate bounced back to 73% last weekend, due to fewer listings. There were 35 listings, 25 auctions and 19 sales totalling $11.654 million and a median price of $708,500 was reported.
The clearance rate was an improvement from the previous weekend’s 65% from 65 listings and 54 auctions.
Brisbane
Brisbane recorded a low clearance rate of 47%.
There were 78 listings, 30 auctions and only 15 sales totalling $7.055 million.
Across Queensland, there were 306 listing and 215 auctions were reported, of which 60 properties sold under the hammer whilst 112 were passed in.
Perth
It was also a quiet weekend in Perth with only 17 listings. There were nine auctions reported and six properties sold.
Darwin
Darwin had six listings and four properties went under the hammer with one selling.
Hobart
There was only one auction held in Tasmania, and it was a three bedroom house in South Launceston, which sold for $518,500.
| Auction highlights this week Saturday, 30 September 2017 (Source: APM) | ||
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 45 Douglas St, Putney NSW 2112, 6 br House, BresicWhitney Hunters Hll | $4,300,000 |
| Melbourne | 24 Orchard St, Glen Waverley VIC 3150, House, Ray White Glen Waverley | $1,617,000 |
| Adelaide | 9 Langman Gr, Felixstow SA 5070, 3 br House, Professionals (RLA 118816) – Glynde | $510,000 |
| Brisbane | 33 Aaron Av, Hawthorne QLD 4171, 5 br House, RW Bulimba | $2,120,000 |
| Canberra | 12 Lilley St, O’Connor ACT 2602, 4 br House, FN Capital | $1,305,000 |
| Most affordable | ||
| Sydney | 8/13 Quigg St N, Lakemba NSW 2195, 2 br Unit, RW Punchbowl | $450,000 |
| Melbourne | 8/155 Gordon St, Footscray VIC 3011, 2 br Unit, McGrath Yarraville | $455,500 |
| Adelaide | 26 Stirling Cr, Aldinga Beach SA 5173, 3 br House, Southgate Real Estate | $261,000 |
| Brisbane | 13 Wilde St, Kingston QLD 4114, 3 br House, Eld Springwood | $360,000 |
| Canberra | 42 Mountain Cct, Calwell ACT 2905, 3 br House, Luton Properties – Tuggeranong | $434,000 |
Australian Property Journal
