August Auctions Start Strong
However, there are signs of the market easing.
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The August period commenced with strong results for sellers despite some signs of COVID-related easing.
A total of 2100 auctions were reported nationally – a record for an August Saturday if down on the previous weekend’s (July) 2203.
The national clearance rate fell at the weekend, down to 81.5%, the figure remains robust and representative of ascendent markets.
Of the capitals, Sydney’s clearance rate climbed to its highest level since June (83.0%) against drops in Melbourne (71.7%), Brisbane (77.4%) and Adelaide (84.8%), with Canberra steady reporting the top result of 90.8%.
The Sydney rate reflected limited stock levels with 532 homes auctioned on Saturday – down from the 623 listed the previous weekend and lower than the 577 offered on the same weekend last year.
Sydney recorded a median price of $1,695,000 for houses sold at auction at the weekend — lower than the $1,700,661 reported over the previous Saturday but 27.7% higher than the $1,327,500 recorded over the same weekend last year.
Melbourne’s auction market trended down despite a surge of listings – 1301 homes reported at the weekend, an unprecedented amount for a Saturday in August.
The lower clearance rate was also impacted by an increase in shutdown-related withdrawals – up 29.5% from the previous weekend’s 15.1%.
Melbourne recorded a median price of $960,000 for houses sold at auction at the weekend – similar to the $967,000 recorded the previous weekend and 12.8% higher than the $851,000 recorded on the same weekend last year.
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
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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
