April Auction Market Begins Steadily
The major capitals of Sydney and Melbourne continue to slide.
The major capitals of Sydney and Melbourne continue to slide.
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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