Auction Markets See Mixed Results Following Holiday Distractions
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Auction Markets See Mixed Results Following Holiday Distractions

With Sydney recording its lowest clearance rate of the year.

By Terry Christodoulou
Mon, May 2, 2022Grey Clock 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.

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