April Auction Market Begins Steadily
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April Auction Market Begins Steadily

The major capitals of Sydney and Melbourne continue to slide.

By Terry Christodoulou
Mon, Apr 4, 2022Grey Clock < 1 min

The national weekend auction market commenced April steadily reporting a clearance rate of 74.90% at the weekend — similar to the previous weekend’s 74.0%.

With Sydney and Melbourne posting lower results than in previous weeks with clearance rates of 69.7% and 71.7% respectively it was left to a recovering Brisbane (73.2%), Adelaide (79.9%) and Canberra (79.8%) to lift the national average.

National auction numbers were down in volumes at the weekend, with 2551 reported compared to the year-to-date high of 2866 reported over the previous weekend.

Sydney weekend market began April slowly, falling below the 70% clearance rate mark for the third time in four weekends.

The NSW capital’s clearance rate was lower than the 73.7% reported the previous weekend.

Sydney’s lowering clearance rate could be attributed to an elevated Saturday of autumn listings, with 958 auctions reported compared to the previous weekend’s 950.

The median price for a house sold at auction at the weekend was $1,800,000 — higher than the $1,613,000 reported over the previous weekend.

Melbourne fared better than Sydney with clearance rates above 70%— yet was still lower than the previous weekend’s 73.4%.

With the coming weekends filled with the usual April holiday distractions, clearance rates are likely going to continue to ease.

Melbourne reported yet another big day of auctions at the weekend with 1259 listings reported although it was lower than the previous weekend’s year-to-date high of 1353.

The Victorian capital recorded a median price of $1,134,000 for houses sold at auction at the weekend — well ahead of last weekend’s $1,100,000.

Data powered by Dr Andrew Wilson, My Housing Market.

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Following on from the rate rise early last week, the weekend’s auction market remained resilient, despite a lack of listings reflecting the growing unease of sellers.

The national auction market reported a clearance rate of 60.9% at the weekend — lower than the 62.0% reported last weekend and well below the 81.5% recorded over the same weekend last year.

National auction volumes were lower at the weekend with only 1202 listings compared to last weekend’s 1543 and significantly lower than the same weekend last year’s 2100 auctions.

The Sydney market eased at the weekend, following the previous week’s slight uptick.

The Harbour City recorded a clearance rate of 57.8% at the weekend — lower than the 62.5% of the previous weekend and well behind the 83.0& of the same weekend last year.

Auction numbers too were down on the previous weekend – only 421 reported compared to 570 and well below the 532 auctioned over the same weekend last year.

Sydney recorded a median price of $1,470,000 for houses sold at auction at the weekend — lower than the $1,497,000 recorded last weekend and 8.4% down on the same weekend last year’s figure of $1,605,000.

Melbourne’s weekend auction market saw another solid result, with a clearance rate of 62.1% — slightly higher than the previous weekend’s 60.5% but lower than the 71.7% over the same weekend last year.

A total of 550 homes were recorded listed at the weekend in the Victorian capital — significantly lower than the 692 reported over the previous weekend and well below the 1301 listed over the same weekend last year.

Melbourne recorded a median price of $968,500 for houses sold at auction at the weekend — similar to the $970,000 reported last weekend and just 0.9% higher than the $960,000 recorded over the same weekend last year.

Elsewhere around the country, Brisbane failed to reach a clearance rate of 50%, managing to clear only 46% of the 84 listings recorded, while Adelaide and Canberra both performed strongly with rates of 72.5% and 66.2% respectively.

Data powered by Dr Andrew Wilson, Myhousingmarket.com