Clearance Rates Are Driven Down By Flood Of Listings
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Clearance Rates Are Driven Down By Flood Of Listings

It’s still a seller’s market.

By Kanebridge News
Mon, Nov 29, 2021 9:06amGrey Clock 2 min

The late season deluge of listings is predictably continuing to push clearance rates down in capitals across the country.

The national clearance rate fell to a three-month low with only Canberra reporting a result above 80% at 87.6% from 112 auctions over the weekend.

The national weekend clearance rate of 76.8% was well below the previous week’s 82.3% and just above the 75.4% recorded over the same weekend last year.

National auction numbers soared again at the weekend rising from the previous Saturday’s 2764 to November record 3165 — and well ahead of the 1740 auctioned over the same weekend last year.

Sydney clearance rates rise despite another record November auction day.

The NSW capital recorded a clearance rate of 77.2% at the weekend which was higher than the previous weekend’s 76.3% but now lower than the 80.8% recorded over the same weekend of 2020.

A record 1234 homes were listed for auction on Saturday — well ahead of the previous weekend’s 1075 and significantly higher than the 781 auctioned over the same weekend last year.

Sydney recorded a median price of $1,702,000 for houses sold at auction at the weekend which was lower than the $1,761,000 reported over the previous Saturday but 21.5% higher than the $1,401,000 recorded over the same weekend last year.

Melbourne’s weekend auction market concluded November with a near record number of listings with 1518 homes listed for auction — well ahead of the 1275 reported the previous weekend and significantly higher than the 736 auctioned over the same weekend last year.

The Victorian capital reported a clearance rate of 69.8% on Saturday which was lower than the previous weekend’s 72.5% and also lower than the 75.6% recorded over the same weekend last year.

Melbourne recorded a median price of $1,119,000 for houses sold at auction at the weekend which was higher than the $1,064,500 recorded over the previous weekend and 12.8% higher than the $992,000 recorded over the same weekend last year.

Data powered by Dr Andrew Wilson, MyHousingMarket.



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By LIZ LUCKING
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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.

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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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