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Auction clearance rates climb

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Published on: Tuesday, November 17, 2015

The auction clearance rate continued to improve this week, lifting to 63.8% from 61.4% last week. 

Weekly clearance rate, combined capital cities

 

Auction volumes across the combined capital cities were also on the up, with 3,226 properties taken to auction compared to 2,947 last week. Research house CoreLogic RP Data notes that this week was the third busiest week for auctions so far this year. 

At the same time last year, auction volumes were slightly higher at 3,360, with a clearance rate of 68.5%.

Capital city auction statistics (preliminary)

 

Melbourne

There was hot Melbourne’s activity this week, with the capital city host to 1,548 auctions. The preliminary clearance rate was 69.5% and remains under the 70% mark for the fourth week running. At the same time last year, Melbourne’s auction volumes were slightly lower at 1,504 and the clearance rate was just shy of 69%.

CoreLogic RP Data says the busiest Melbourne region was the Inner region with 303 auctions, and a preliminary clearance rate of 70.1%. 

Australian Property Monitors (APM) reports that for 765 properties sold on Saturday 14 November, the median sale price was $785,000.

APM says one of Melbourne’s auction highlights was this Victorian residence in Hawthorn East, with 5 bedrooms and a land area of 1090 sqm. It sold for $4,361,000.

 

Source: Domain

Sydney

Australia’s other market heavy weight – Sydney – experienced a better clearance rate this week at 61% compared to 58.4% last week. Auction volumes were slightly down however at 1,200 compared to 1,248.

At the same time last year, the clearance rate was much higher at 73.1% across 1,417 auctions. CoreLogic RP Data says the strongest clearance rate across Sydney was seen in the Eastern suburbs, with a clearance rate of 76.6% across 107 reported results.

APM reports a median sale price of $1,143 million across 420 sold properties on Saturday 14 November. The most expensive property to be sold in Sydney was a 3-bedroom house in Blakehurst with these waterfront views. It went for an impressive $4,800,000.

Source: Domain


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