This article is from the Australian Property Journal archive
THIS week saw the softest capital city preliminary clearance auction rate since March, as the spring selling season wraps up.
According to the latest figures from Domain, nationally there were 2,215 auctions listed, down from 2,305 the week before with 1,510 auctions reported down from 1,992.
At 57.8%, the national clearance rate was unchanged from last week’s revised rate, with 873 properties selling at auction down from 1,152 in the week prior, with 308 properties withdrawn, up from 299.
Compared to the same week last year, the clearance rate was up from 56.7%, where 1,696 properties were listed, 1,634 auctions were reported and 927 were sold.
The total value sold this week was at $835.9 million, with houses bringing in an auction median of $1,255,000 and units at $805,000.
This was down from last week’s $1,027.9 million, with the auction median for houses at $1,231,000 and units at $766,000.
Compared to the same week last year, the total value sold was up from $783.3 million, with the house auction median at $1,250,000 and the unit auction median at $807,000.
According to CoreLogic’s results, capital city auction activity was largely steady from the previous week, with 2,972 homes auctioned across the capitals, down marginally from the 2,990 in the week prior.
In Sydney the clearance rate was up to 62%, with 582 reported auctions, 167 withdrawals and 361 properties selling.
Sydney’s total value sold at auction down to $433.6 million this week, with an auction median of $1,700,000 for houses and $977,500 for units.
The sale of a six-bedroom mansion was easily this weekend’s top auction result at $14.215 million, after coming in $215,000 over the $14 million reserve.
7 Hopetoun Avenue in Mosman was sold by Anthony Godson and Nick Gittoes from The Atlas with auctioneer Peter Kakos managing four big spending bidders.
In Melbourne the clearance rate was down marginally from 56.8% to 56.2%, with 739 reported auctions, 108 withdrawals and 415 properties selling.
The total value sold in Melbourne was $433.6 million, or an auction median of $1,700,000 for houses and units at $977,500.
While in Adelaide, the clearance rate was at 68%, with 62 auctions reported, six withdrawn and 42 properties sold, for $33,343,500 in total sales and a median of $955,500.
In Brisbane the clearance rate came in at just 41%, with 70 auctions reported, 15 withdrawals and 29 sold, for $40,186,500 in total sales and a median of $1,367,500.
Finally, Canberra’s clearance rate was at 46%, with 57 auctions reported, 12 withdrawn and 26 properties sold for a total value at $19,643,000 and a median of $1,125,000.
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 7 Hopetoun Av, Mosman NSW 2088, 6 br House, Atlas | Lower North Shore | $14,215,000 |
| Melbourne | 102 Bridport St, Albert Park VIC 3206, 5 br House, Jellis Craig Port Phillip | $5,870,000 |
| Adelaide | 1 Ayr St, Rosslyn Park SA 5072, 4 br House, Klemich Real Estate | $2,755,000 |
| Brisbane | 27 Elystan Rd, New Farm QLD 4005, 5 br House, Ray White New Farm | $6,200,000 |
| Canberra | 130 Strickland Cr, Deakin ACT 2600, 4 br House, Blackshaw Manuka | $2,230,000 |
| Most affordable | ||
| Sydney | 3/42-48 Clyde St, Granville NSW 2142, 2 br Unit, Laing+Simmons Granville | $380,000 |
| Melbourne | 6/506 Glenferrie Rd, Hawthorn VIC 3122, 1 br Unit, Nelson Alexander Kew | $327,000 |
| Adelaide | 3/22 Frome Av, Hampstead Gardens SA 5086, 3 br Unit, Ray White Prospect | $400,500 |
| Brisbane | 287 Logan St, Eagleby QLD 4207, 3 br House, Ray White Beenleigh | $521,500 |
| Canberra | 89 Costello Cct, Calwell ACT 2905, 3 br House, Luton Properties Tuggeranong | $733,000 |
