Auction Markets Steady As Listings Surge
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Auction Markets Steady As Listings Surge

Gloomy house value forecasts and a flood of stock can’t dampen the market.

By Terry Christodoulou
Mon, Feb 21, 2022 8:22amGrey Clock 2 min

National auction markets have continued to produce healthy results despite a record number of listings for this time of the year.

The national auction market posted a clearance rate of 81.5% at the weekend — similar to the 81.6% reported over the previous weekend but lower than the 84.5% recorded over the same weekend last year.

National auction numbers were again significantly higher at the weekend with 2341 reported listed compared to the previous weekend’s 1977, and well above the 1787 reported over the same weekend last year.

In Sydney, the market recorded more strong results despite record-level listings for February with the NSW capital recording 878 homes listed for auction — up on the previous weekend’s 784 and higher than the 624 auctioned over the same weekend of 2021.

Sydney recorded a clearance rate of 78.1% at the weekend – lower than the 79.5% over the previous weekend and well below the 87.3% recorded over the same weekend last year.

The median price for a house sold at auction at the weekend in Sydney was $1,750,000 — lower than the $1,835,000 reported over the previous weekend but 3.4% higher than this weekend last year.

Like its northern counterpart, Melbourne produced strong results despite another surge in listings.

The Victorian capital reported a clearance rate of 75.5% on Saturday — higher than last weekend’s 72.3% but below the 79.6% recorded over the same weekend last year.

A total of 1129 homes were reported listed for auction at the weekend — higher than last weekend’s 888 and the 1004 recorded over the same weekend last year.

Melbourne recorded a median price of $1,165,000 for houses sold at auction at the weekend which was higher than last weekend’s $1,090,000 and 15.9% higher than the $1,005,000 recorded over the same weekend last year.

Data powered by Dr Andrew Wilson, My Housing Market.



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Owning a Home in an LGBTQ-Friendly Area Comes With a Hefty Price Premium
By LIZ LUCKING
Thu, May 30, 2024 2 min

The cost of owning a home in an LGBTQ-friendly area in the U.S. comes with a hefty price premium of almost 50%, according to a report Wednesday from Redfin.

In a metropolitan area with state laws protecting LGBTQ people from housing discrimination, a home buyer needs to earn an annual income of $150,364 to afford a median priced home. That’s 46.8% more than the $102,435 buyers need to earn to afford a home in places without such protections, the online property portal said.

For the purposes of their report, a metro is considered to have protections if the state it’s located in prohibits housing discrimination based on sexual orientation and/or gender identity, Redfin explained. In the case of metro areas which span multiple states, Redfin considered the metro to have protections if at least one of the states it’s located in prohibits such discrimination.

“LGBTQ+ Americans face disproportionately large barriers to homeownership,” said Redfin senior economist Elijah de la Campa in the report. “On top of paying a premium to live somewhere that feels safe, many LGBTQ+ house hunters are earning less than the typical U.S. worker, and face discrimination while shopping for homes despite laws that prohibit it.”

The locales where individuals identifying as LGBTQ make up the largest share of the adult population are also those where housing is the least affordable, the report found.

In San Francisco, where 6.7% of the adult population identifies as LGBTQ—the highest share of any of the 54 metropolitan areas Redfin analyzed—only 5.1% of listings last year were affordable based on the median local income, one of the lowest shares in the country.

In Portland, Oregon, which had the second highest share of LGBTQ adults at 6%, only 6.7% of homes for sale were affordable; in Austin, Texas, where 5.9% of the adult population identifies as LGBTQ, 2.9% of listings were affordable.

And in Seattle and Los Angeles, where LGBTQ adults make up 5.2% and 5.1% of the population, 4.8% and 1.9% of homes for sale were affordable, respectively.

All but one of those top LGBTQ metros—Austin—has state-level protections, the report said.

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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