Auction Markets See Mixed Results Following Holiday Distractions
With Sydney recording its lowest clearance rate of the year.
2 min
Following on from two weeks of Easter and Anzac Day distractions, capital city auction clearance rates were mostly steady at the weekend.
The national auction market reported a clearance rate of 73.1 % at the weekend which was lower than the 74.9% reported the previous weekend and well below the 83.3% recorded over the same weekend last year.
Across the country, auction numbers were predictably higher at the weekend – with 2231 listed compared to the previous holiday weekend’s 1460. However, it was lower, marginally, than the 2287 reported over the same weekend last year.
Sydney clearance rates were the lowest for the year so far with a surge in post-holiday listings.
The NSW capital reported a clearance rate of 64.5% at the weekend – similar to the 64.6% effort of last weekend but well below the 84.6% recorded over the same weekend last year.
A total of 822 Sydney homes were listed for auction on Saturday — higher than the 634 auctioned over last weekend’s holiday break but well below the 934 listed on the corresponding weekend last year.
Sydney recorded a median price of $1,765,500 for houses sold at auction at the weekend which was higher than the $1,525,000 recorded last weekend and 11.0 % higher than the same weekend last year’s $1,590,500.
Melbourne out-performed Sydney this weekend with a clearance rate of 71.8% on Saturday – similar to the 71.5% record over the previous weekend yet lower than the 80.1% recorded over the same weekend last year.
The Victorian capital saw 1116 homes were reported listed at the weekend which was predictably significantly higher than the 577 reported over the previous holiday weekend and also higher than the 1034 listed over the same weekend last year.
Further, Melbourne recorded a median price of $1,051,000 for houses sold at auction at the weekend which was higher than the $907,500 reported last weekend and also 5.0% higher than the $1,001,000 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
A new digital real estate site promises a full view of the housing sector, even those places not on the market
2 min
Hot on the heels of the launch of View Media Group last year, Australia’s newest proptech digital media company has gone live with its consumer-facing real estate site, view.com.au.
The new site offers a ‘freemium’ model allowing vendors to list their properties for free while having the option of further upgrades for agents looking to enhance their listings.
VGM executive chairman Anthony Catalano said the model was a ‘game changer’ in the digital real estate space.
“While VMG is much more than a portal play, it’s critical that we have a consumer-facing brand that will act as the front door to attract consumers and in turn allow us to offer products and services in a range of verticals across the property ecosystem,” Mr Catalano said. “Our plan is to create a digital real estate superstore under the new View brand that will play in the $300 billion adjacency categories rather than solely focus on the $1
billion of digital property advertising.”
“We’ve listened to the industry and the time is right for an offer to come to market with an alternative model that addresses the real estate industry’s concern at the continually
escalating price of advertising.”
The View portal is available through app stores and will include properties across the country, not just those on the market right now.
“That means view.com.au will showcase more than 11 million properties in Australia compared to some of the portals which feature around 140,000 properties for sale,” Mr Catalano said. “From Day 1 we will provide consumers with a complete view of the market.’’
View has worked with mapping partner Nearmap to create the ability to have a comprehensive overview of all properties.
“We’ve had a look globally at best practice search for property and we’ve consumer tested a range of options and without doubt the preferred experience is map-based search,” View CEO Toby Blazs said. “So unlike others in the market who default consumers to a list view, we’ll default our search results via a map.”
Mr Catalano said the innovative site was designed to be a true disruptor in the proptech sector.
“VMG continues to grow and tick off the key parts of its strategic plan,” he said. “We are well on the way to forming a global-first conglomerate of proptech assets including portals, ad tech, lead generation, lead management solutions, media planning and buying, AI services, data and connections all under the one roof.”
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
