Auction Market Ends March On A High
Sydney’s market bounced back at the end of the month.
2 min
While the month of March has seen the auction markets, especially on the east coast, disturbed with holiday distractions and extreme weather events, the final weekend of the month saw solid results for most sellers generally.
The national auction market reported a clearance rate of 74.0% at the weekend —similar to the previous weekend’s 75.1% but lower than the 85.2% recorded over the same weekend last year.
National auction numbers were higher again at the weekend with a year-to-date high of 2686 reported listed comparted to the previous weekend’s 2475. This is well below the 3118 reported over the same Saturday last year.
The Sydney market bounced back to end the month higher, posting a clearance rate of 72.7% at the weekend – higher than the 69.6% reported over the previous weekend but lower than the remarkably high 90.4% result reported over the same weekend last year.
Sydney’s higher clearance rate was reported despite a surge in listings with 950 auctions reported compared to the previous weekend’s 866. Both figures sit below the 1227 auction over the same weekend last year.
Sydney recorded a median price of $1,613,000 for houses sold at auction at the weekend which was lower than the $1,757,000 reported over the previous weekend but 2.5% higher than the $1,573,000 recorded over the same weekend last year.
Melbourne reported a year-to-date high of 1353 homes listed for auction at the weekend – higher than the previous weekend’s 1290 but lower than the 1593 auctioned over the same weekend last year.
The Victorian capital recorded a clearance rate of 73.4% this weekend, up on the previous weekend’s 69.9% but well below the 83.7% recorded over the same weekend last year.
Melbourne recorded a median price of $1,100,000 for houses sold at auction at the weekend which was similar to last weekend’s $1,115,000 but 8.4% higher than the $1,015,000 recorded over the same weekend last year.
Data powered by Dr Andrew Wilson, My Housing Market.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Scheduled auctions fall to winter levels as vendors hold back on going to market
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Grand final fever and the long weekend have dampened scheduled auction activity this weekend, CoreLogic reports.
The number of homes scheduled for auction this weekend is set to halve, with 1,324 properties listed, marking the quietest week since mid June. Melbourne will experience the quietest week since Easter, CoreLogic data shows, with 223 homes prepared to go under the hammer. In Sydney, 805 properties are expected to go to market, the lowest number in seven weeks.
With long weekends in Queensland and South Australia, numbers are also down in Brisbane (111) and Adelaide (86), less than half the properties available for auction the previous week. It’s a less dramatic drop in Canberra, where 83 homes are scheduled for auction, down -22.4 percent on the previous week.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
