Clearance Rates Hold Firm Against COVID
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Clearance Rates Hold Firm Against COVID

The national clearance rate lifted at the weekend.

By Kanebridge News
Mon, Aug 2, 2021 10:23amGrey Clock 2 min

Despite Sydney being in the midst of its strictest COVID lockdown to date, the weekend auction market produced strong results for sellers.

July ended with yet another record Saturday offering for the month with all capitals reporting sharp increases in listings when compared to the previous weekend.

A total of 2203 homes were listed nationally on Saturday – up on last weekend’s 1944 and well ahead of the 919 auctioned over the same weekend last year.

The high listing numbers failed to slow the clearance rate with – 83.6% nationally – well ahead of the previous weekend’s 77.3% and the highest recorded since mid-April.

Sydney’s auction market bounced back despite lockdown woes with 623 auctions – up on last weekend’s 566. Although it is much lower than the record levels set earlier in the month.

The weekend clearance rate was also sharply higher at the weekend with the NSW capital recording 79.1% – up on last weekend’s 75.1% and higher than the 71.5% recorded over the same weekend last year.

Sydney recorded a median price of $1,700,661 for houses sold at auction at the weekend which was well above the $1,532,500 reported over the previous Saturday and 35.9% higher than the $1,251,000 recorded over the same weekend last year.

The Melbourne market saw more strong results with a 77.6% clearance rate at the weekend – sharply higher than last weekend’s 73.0%.

The strong results come in spite of a surge in listings to yet another monthly Saturday record for July – the Victorian capital recording 1264 homes listed to go under the hammer, well ahead of last weekend’s 1120.

Melbourne recorded a median price of $967,000 for houses sold at auction at the weekend which was higher than the $938,000 recorded over the previous weekend and 19.9% higher than the $806,750 recorded over the same weekend last year.

Data Powered by Dr Andrew Wilson of My Housing Market.



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Owning a Home in an LGBTQ-Friendly Area Comes With a Hefty Price Premium
By LIZ LUCKING
Thu, May 30, 2024 2 min

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

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Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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