This article is from the Australian Property Journal archive
CLEARANCE rates saw a return to healthier levels this week, despite activity moderating as floods caused havoc across much of the country over the weekend. At the same time, a Manly house has changed hands after 40 years.
According to the latest data from Domain, nationally 1,428 auctions were listed, from the previous week’s 1,544, with the number of reported auctions down to 995 from 1,327 in the week prior.
At 64.3%, the national clearance rate was up from the previous week’s revised 61.1%, with the number of properties selling down to 639 from the week prior’s 811, as 147 properties were withdrawn steady from 150.
The clearance rate was still down significantly from the same weekend last year, where the rate was at 73.7%, with 1,827 properties listed, 1,751 auction reported and 1,290 properties selling.
The total value sold for this week came in at an improved $558.1 million, with houses bringing in a an auction median of $1,180,000 and units at $785,300.
Last week’s total value at auction was a more elevated $697.1 million, where the auction median for houses was $1,120,000 and with units at $812,500.
Compared to the same week last year, the total value sold was down significantly from $1870.2 million, with the house auction median down from $1,320,000 and the unit median at $837,500.
In Sydney the clearance rate was up to 65.7%, where 353 were reported, with 71 withdrawals and 232 properties selling.
This was for a total value sold of $249.1 million, for a comparable auction median of $1,621,000 for houses and $1,066,000 for units.
Meanwhile a vascular surgeon has snapped up a five bedroom house at 2 Reddall St, Manly for $21.50 million as an investment property.
This is the first time the property was offered for sale in 41 years, last selling in 1981 for $300,000.
The weekend sale was handled by real estate agent Novak’s Lisa Novak and Michael Siljic.
In Melbourne the clearance rate was up to 63.6%, with 494 auctions reported, with 63 withdrawals and 314 properties selling.
This was for a total value sold of $244.5 million and an auction median of $1,090,000 for houses and at $686,000 for units.
Meanwhile in Adelaide, the clearance rate was again way up on the national average at 81%. 64 auctions were reported, with three withdrawals and 52 sold, for a total sales value of $33,886,000, for a median of $755,000.
In Brisbane the clearance rate was down to just 42%, with 57 auctions reported, six withdrawals and 24 sold. For a total sales value of $15,047,000, for a median of $1,125,000.
While in Canberra the clearance was in line with the national average at 62%, with 53 auctions reported, four withdrawals. With 33 properties sold, the total value was at $32,968,000, for a median of $1,200,000.
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 2 Reddall St, Manly NSW 2095, 5 br House, Novak | $21,500,000 |
| Melbourne | 106 Lawrence Rd, Mount Waverley VIC 3149, 5 br House, LLC Real Estate | $3,410,000 |
| Adelaide | 48 Sixth Av, St Peters SA 5069, 3 br House, RW Port Adelaide | $2,225,000 |
| Brisbane | 39 Glenrosa Rd, Red Hill QLD 4059, 5 br House, RW – New Farm | $3,530,000 |
| Canberra | 85 David St, O’Connor ACT 2602, 5 br House, Blackshaw Manuka | $ 4,050,000 |
| Most affordable | ||
| Sydney | 5/9 Henry St, Parramatta NSW 2150, 2 br Unit, RW Parramatta/Oatlands/Northmead | $575,000 |
| Melbourne | 6/97 Osborne St, South Yarra VIC 3141, 1 br Unit, Woodards South Yarra | $315,000 |
| Adelaide | 23 Norbury Dr, Salisbury Downs SA 5108, 3 br House, LJH Property Specialists – Greenwit | $350,000 |
| Brisbane | 4/55 Thorn St, Kangaroo Point QLD 4169, 2 br Unit, Place Estate Agents – Bulimba | $466,000 |
| Canberra | 6/15 Hargrave St, Scullin ACT 2614, 2 br Townhouse, Blackshaw Manuka | $485,000 |
