Clearance Rates Are Driven Down By Flood Of Listings
It’s still a seller’s market.
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.
This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
This renovated Hampton-style home offers luxury living and seamless indoor-outdoor entertaining in a prime coastal location.
2 min
A sanctuary of modern design and craftsmanship, this stunning north-facing family home in Dover Heights sets a new benchmark for luxury coastal living. Perched on a sun-drenched 563sqm block, the newly renovated residence combines elegance with functionality, making it the ultimate entertainer’s retreat.
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This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
