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Auctions spring into Spring

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Published on: Monday, September 07, 2015

Over the first week of spring, the preliminary auction clearance rate across the combined capital cities rose to 74.9% from 73.4% last week, and 74.1% this time last year.

Weekly clearance rate, combined capital cities



The number of residential auctions fell to 2,272 this week, from 2,654 last week. However it was still well above the 1,897 auctions the same week a year ago.

Capital city auction statistics (preliminary)

Sydney

Sydney’s preliminary clearance rate was 78.0%, up from 75.1% last week.

According to research house CoreLogic RP Data, last week’s result was Sydney’s lowest clearance rate this year.

It was also below the recorded clearance rate of 80.1% over the corresponding week last year.

Auction activity was hottest across the Sydney sub-region of North Sydney and Hornsby with 154 homes going under the gavel and a recorded preliminary clearance rate of 83.6%.

The highest clearance rates were in the sub-regions of the Inner West and Eastern suburbs, which came in at 88.6% and 84% respectively.

According to Australian Property Monitors, the median price across the 512 properties sold on Saturday, September 5 was $1.15 million dollars.

One of the most expensive properties sold was this three-bedroom, two-bathroom water-front apartment in Manly. It went for $4.675 million.


Source: Domain.com.au

Melbourne

Melbourne’s clearance rate was 76.2% this week compared to last week’s 76.7% and 76.7% one year ago.

The total number of auctions was also lower at 998 compared to last week’s 1,188, but higher than last year’s 872.

Melbourne’s outer east had the highest clearance rate at 91.3% across 80 collected results.

Australian Property Monitors recorded a median sale price of $802,000 across 550 properties sold at auction on Saturday, September 5.

This six-bedroom house in Kew went for $4.2million.

Source: Domain.com.au


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