This article is from the Australian Property Journal archive
THE combine capitals preliminary auction clearance rate has hit its lowest point in nine weeks, as the selling market continues to cool for winter.
According to the latest figures from Domain, nationally there were 852 auctions listed, down from 1,053 the week before, with 597 auctions reported down from 980.
At 59.8%, the national clearance rate was down from last week’s 64.1%, with 357 properties selling at auction from 628 in the week prior, with 106 properties withdrawn, up from 93.
Compared to the same week last year, the clearance rate was up from 49.6%, where 1,453 properties were listed, 1,276 auctions were reported and 633 were sold.
The total value sold this week was down to $372.1 million, with houses bringing in an auction median of $1,260,500 and units at $745,000.
This was down from last week’s $655 million, with the auction median for houses at $1,225,000 and units up from $806,000.
Compared to the same week last year, the total value sold was down from $696.2 million, with the house auction median at $1,084,000 and the unit auction median at $750,000.
According to CoreLogic’s preliminary data, it was the lowest clearance rate for nine weeks for the combined, though the group had the rate still sitting at 70.3%.
In Sydney the clearance rate was down from 65.4% to 56.3%, with 231 reported auctions, 61 withdrawals and 130 properties selling.
Sydney’s total value sold at auction was down to $176.6 million this week, with an auction median of $1,720,000 for houses and $840,000 for units.
With activity down from the same week last year, where 529 auctions were reported, with 251 properties selling for a total value of $358.6 million.
In Melbourne the clearance rate was up from 63.6% to 65.2%, with 267 reported auctions, 26 withdrawals and 174 properties selling.
The total value sold in Melbourne was $157.9 million, or an auction median of $1,080,000 for houses and units at $704,000.
By comparison, the same week last year in Melbourne saw 492 auctions reported, with 252 sold for a total value of $226.4 million.
While in Adelaide, the clearance rate was again above the national rate at 67%. With 46 auctions reported, eight withdrawn and 31 properties sold, for $21,691,500 in total sales and a median of $750,000.
In Brisbane the clearance rate came in at 38%, with 26 auctions reported, six withdrawals and 10 sold, for $10,431,000 in total sales.
Finally, Canberra’s clearance rate was at 44%, with 27 auctions reported, five withdrawn and 12 properties sold for a total value at $5,514,500.
| City | Location | Value Sold |
| Most expensive | ||
| Sydney | 22 Catherine St, St Ives NSW 2075, 5 br House, Ray White Upper North Shore | $6,000,000 |
| Melbourne | 25 Warncliffe Rd, Ivanhoe East VIC 3079, 4 br House, Nelson Alexander Ivanhoe | $4,021,000 |
| Adelaide | 8 Patawalonga Fr, Glenelg North SA 5045, 4 br House, Ray White Paradise | $2,300,000 |
| Brisbane | 32 Ilford St, Gordon Park QLD 4031, 5 br House, Ray White Wilston | $2,650,000 |
| Canberra | 38 Paterson St, Ainslie ACT 2602, 3 br House, Belle Property Canberra | $1,660,000 |
| Most affordable | ||
| Sydney | 203/19-23 Short St, Homebush NSW 2140, 2 br Unit, Richard Matthews Real Estate | $530,000 |
| Melbourne | 14/31 Ridley St, Albion VIC 3020, 1 br Unit, Sweeney Estate Agents Sunshine | $230,000 |
| Adelaide | 33 Jeffries Rd, Elizabeth South SA 5112, 3 br House, Ray White Norwood | $290,000 |
| Brisbane | 16 Kevin St, Capalaba QLD 4157, 3 br House, Chapter Estate Groups | $780,000 |
| Canberra | 66/68 College St, Belconnen ACT 2617, 1 br Unit, Blackshaw Gungahlin | $415,000 |
