Clearance Rates Hold Steady
Despite a record number of December listings.
Despite a record number of December listings.
December has commenced with yet another wave of weekend auction listings, yet clearance rates — that have eased over recent weeks — remained steady with sellers maintaining the upper hand.
The national auction market reported a clearance rate of 76.8% — the same as the previous weekend and a three month low.
National auction numbers were marginally lower at the weekend, falling from the previous Saturday’s 3165 to a December record 3096 —ahead of the 1720 auctioned over the same weekend last year.
Auction numbers will drop as the year rounds out, but volumes are predicted to still hit near-record levels and will test buyer depth.
Clearance rates in Sydney were only slightly lower despite ta record December day for Auction listings.
The NSW capital recorded a clearance rate of 76.6% at the weekend — similar to the previous weekend’s 77.2% but again lower than the 82.5% recorded over the same weekend last year.
A December record 1189 homes were listed for auction on Saturday — below the previous weekend’s November record 1234, but well up on the 781 auctioned over the same weekend last year.
Sydney recorded a median price of $1,622,500 for houses sold at auction at the weekend which was lower to the $1,702,000 reported over the previous Saturday but 13.5% higher than the $1,430,000 recorded over the same weekend last year.
Melbourne’s weekend auction market hit a near-record number of listings for December with 1491 homes listed for auction at the weekend – similar to the 1518 reported over the previous weekend and more than double the 737 auctioned over the same weekend last year.
Despite the strong showing, a steady clearance rate of 68.5% on Saturday was similar to the previous weekend’s 69.8% but lower than the 72.8% recorded over the same weekend last year.
Melbourne recorded a median price of $1,126,000 for houses sold at auction at the weekend which was higher than the $1,119,000 recorded over the previous weekend and 14.7% higher than the $982,000 recorded over the same weekend last year.
Data powered by Dr Andrew Wilson; myhousingmarket.com
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