Auction Markets Still Hot Despite Flood Of Listings
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Auction Markets Still Hot Despite Flood Of Listings

A sharp rise in auctions had little effect on clearance rates.

By Terry Christodoulou
Mon, May 3, 2021Grey Clock < 1 min

This past Saturday, May 1, saw the home auction markets resume at full pace with a total of 2287 auctions reported in the nation’s auction capitals, an increase of 33.9% over the previous weekend and the highest offering since the Super Saturday of March 27.

Despite the surge in auctions, the average clearance rate held firm at 83.3%, just below the 83.4 of the previous weekend.

The Sydney auction market continues what is the strongest start to the year for the local housing market since 1989.

Reporting a clearance rate of 84.6%, Sydney fell just shy of the 85.1% recorded the previous weekend, and well above the COVID-impacted 52.4% recorded this time last year.

While Sydney’s Saturday result was the second consecutive weekend of marginally lower clearance rates, it was achieved despite a 39% increase in the number of homes offered for sale.

A total of 934 auctions were reported on Saturday, compared to the previous weekends 672, while the median price of $ 1,590,500 for houses sold at auction at the weekend was 9.7% higher than the $1,449,900 reported over the previous Saturday.

Melbourne fared similarly with the auction market recording its highest clearance rate in a month – a figure of 80.1% – up on last week’s 79.0% and well ahead of the COVID-impacted 34.7% of the same weekend last year.

The strong result comes as 1084 homes were listed for auction on Saturday, well above the 835 of the previous weekend and the 157 auctioned over the same weekend last year.

Melbourne recorded a median price of $1,001,000 for houses sold at auction on the weekend which was 2.6% higher than the $975,000 recorded over the previous weekend.

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By Robyn Willis
Fri, Aug 19, 2022 < 1 min

Treechangers seeking a home and income should take note of this west coast property in picturesque Pickering Brook in the Perth Hills, which comes with its own live-in residents.

Known as ‘the Margaret River of the Hills’ the area boasts stunning bushland while being just 30 minutes from all the amenity Perth has to offer.

With eight bedrooms and 10 bathrooms, this property is a home and business, operating as a thriving day spa, Hidden Valley Eco Lodges and Day Spa.

The private main residence is made of rammed earth for thermal comfort and has three bedrooms, luxurious bathroom and a large open plan living area. A private jacuzzi on the spacious entertaining deck is the perfect spot for enjoying beautiful bushland views at the end of a long day.

For day spa guests, there are four deluxe spa treatment rooms serviced by qualified staff, a reception area and lounge plus a commercial kitchen. Overnight guests can choose from five lodges with fully equipped kitchen and heated jacuzzi. As a going concern with a consistently high annual turnover, it’s a unique opportunity for the right buyer.

Set over 5.46ha, the property is also home to a very special group of residents: a small herd of alpacas, which are included in the sale.

Price guide: $6.5 million

Inspection: By expression of interest

Agent: Susanne Broido, The Agency 0499 770 237