This article is from the Australian Property Journal archive
AUCTION activity is picking up with the warmer weekend weather.
According to the latest figures from Domain, nationally there were 1,907 auctions listed, up from 1,873 the week before with 1,302 auctions reported down from 1,535.
At 64.5%, the national clearance rate was up from last week’s revised 60.4%, with 840 properties selling at auction down from 927 in the week prior, with 207 properties withdrawn, up from 200.
Compared to the same week last year, the clearance rate was up from 56.8%, where 1,830 properties were listed, 1,644 auctions were reported and 934 were sold.
The total value sold this week was at $716 million, with houses bringing in an auction median of $1,316,000 and units at $840,000.
This was down from last week’s $785.2 million, with the auction median for houses at $1,344,000 and units at $772,500.
Compared to the same week last year, the total value sold was down from $1,273.1 million, with the house auction median at $1,300,000 and the unit auction median at $785,000.
According to CoreLogic’s results, the combined capital’s preliminary clearance rate fell to its lowest point in 20 weeks, led by an increasing withdrawal rate.
In Sydney the clearance rate was up from 62.8% to 66.9%, with 534 reported auctions, 115 withdrawals and 357 properties selling.
Sydney’s total value sold at auction was down to $377.8 million this week, with an auction median of $1,840,000 for houses and $1,010,000 for units.
With activity down from the same week last year, where 574 auctions were reported, with 317 properties selling for a total value of $620.5 million.
This week’s top auction result was the $9.5 million sale of the six-bedroom at 16 Braeside St in Wahroonga, NSW.
Including a pool and tennis court, the luxury property saw five registered parties with four actively bidding at the auction managed by David Walker from Ray White Upper North Shore.
In Melbourne the clearance rate was up from 61.9% to 63.2%, with 627 reported auctions, 72 withdrawals and 396 properties selling.
The total value sold in Melbourne was $279.1 million, or an auction median of $1,111,000 for houses and units at $740,000.
By comparison, the same week last year in Melbourne saw 816 auctions reported, with 474 sold for a total value of $519.3 million.
While in Adelaide, the clearance rate was at 66%, with 59 auctions reported, two withdrawn and 39 properties sold, for $29,839,000 in total sales and a median of $785,000.
In Brisbane the clearance rate came in at 56%, with 72 auctions reported, eight withdrawals and 40 sold, for $32,303,000 in total sales and a median of $1,377,500.
Finally, Canberra’s clearance rate was at 49%, with 57 auctions reported, 10 withdrawn and 28 properties sold for a total value at $11,898,500 and a median of $1,025,000.
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 16 Braeside St, Wahroonga NSW 2076, 6 br House, Ray White Upper North Shore | $9,500,000 |
| Melbourne | 24 Fairfield Av, Camberwell VIC 3124, 4 br House, Jellis Craig & Company Pty Ltd | $3,680,000 |
| Adelaide | 20 Birks St, Parkside SA 5063, 4 br House, Harris Real Estate | $2,360,000 |
| Brisbane | 17 Atkinson St, Hamilton QLD 4007, 5 br House, Place Estate Agents Ascot | $2,775,000 |
| Canberra | 58 Sprent St, Narrabundah ACT 2604, 5 br House, Belle Property Canberra | $2,850,000 |
| Most affordable | ||
| Sydney | 2/5 Wardell Rd, Lewisham NSW 2049, 1 br Unit, Adrian William | $529,000 |
| Melbourne | 12/243 Blackburn Rd, Doncaster East VIC 3109, 1 br Unit, Woodards Manningham | $398,700 |
| Adelaide | 23 Smith Rd, Salisbury East SA 5109, 4 br House, Harcourts Sergeant | $395,000 |
| Brisbane | 24 Girralong St, Eagleby QLD 4207, 3 br House, Ray White Beenleigh | $530,000 |
| Canberra | 5/180 Monaro Cr, Red Hill ACT 2603, 3 br Unit, Cream Residential | $867,500 |
