Autumn Selling Season Officially Begins
Solid auction returns mark the start of the new season.
Solid auction returns mark the start of the new season.
Home auction markets have commenced the autumn selling season with solid results despite reporting generally lower than February.
Severe weather events also distracted activity in some markets — particularly Brisbane — with listings and clearance rates well down on the week before in the Queensland capital from 78.7% the weekend prior to 65.3%.
The national auction market reported a year low clearance rate of 73.5% at the weekend, well down on the previous weekend’s 77.9% and significantly below the 88.5% recorded over the same weekend last year.
National auction volume was also down with 2377 reported listed compared to the previous weekend’s 2627 but well ahead of the 1232 listed the same Saturday last year.
The Sydney auction market reported yet another strong clearance rate despite weather distractions.
Clearance rates have continued to track above the results recorded at the end of 2021 despite record level early-season listings.
The NSW capital recorded a clearance rate of 76.6% at the weekend — lower than the 78.8% reported over the previous weekend and below the 86.6% record over the same weekend last year.
Sydney reported 841 auction listings which, although below the previous weekend’s February record of 965, was well ahead of the 665 reported for the same weekend last year.
Sydney recorded a median price of $1,915,000 for houses sold at auction at the weekend which was higher than the $1,755,000 reported over the previous weekend and 12.4% higher than the $1,704,000 recorded over the same weekend last year.
In Melbourne, the capital reported a clearance rate of 73.8% on Saturday — higher than last weekend’s 71.4% but well below the 80.6% recorded over the same weekend last year.
Melbourne reported 1210 homes listed for auction at the weekend, lower than last weekend’s 1288 but predictably significantly higher than the 405 auctioned over the same weekend last year, which was a Labour Day holiday weekend.
The Victorian capital recorded a median price of $1,170,000 for houses sold at auction at the weekend which was lower than last weekend’s $1,187,000 but 6.4% higher than the $1,100,000 recorded over the same weekend last year.
Data powered by Dr Andrew Wilson, My Housing Market.
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