Unprecedented Weekend Auction Results
Beyond the majors, Adelaide claims close to 100 per cent clearance rate.
< 1 min
Following last weekend’s bumper results, Saturday, March 6 produced more impressive returns with each capital city recording a weekend auction clearance rates above 80%.
The unprecedented result saw Adelaide (97.1%) and Brisbane (close to 90%) as standout markets.
Sydney, meanwhile, reported a rate of 86.8% – down on last weekend’s record-breaking 90.0%, but up on the 90.5% reported over the same weekend last year.
The median price for houses sold at auction in Sydney was $1,704,000, higher than the previous weekend’s $1,645,500 and 17.5% above the $1,450,000 recoded over the same weekend last year.
The upper north shore reported the top clearance rate results at 90.8%.
Despite being a holiday weekend, Melbourne posted another strong Saturday with a rate of 80.6% – slightly lower than the previous weekend (82.0%) but well ahead of the 71.9% reported for the same period last year.
Melbourne recorded a median price of $948,000 for auctioned houses, lower than the previous weekend’s $1,002,500 Prices however were 10.9% higher than the $855,000 recorded over the same holiday weekend last year.
Data powered by Dr Andrew Wilson of MyHousingMarket.com.au
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
The construction sector is roaring back to life in some Australian states while others languish in the doldrums
< 1 min
The home building market is on the rebound as building approvals rise, new data reveals.
Information from the Australian Bureau of Statistics shows that the total number of dwellings approved in August was up 7 percent seasonally adjusted, with apartments leading the way.
Private sector house approvals gained 5.8 percent in August while private sector residences excluding houses were up 9.4 percent. This follows on from a decrease of 14.6 percent in July and indicates a solid recovery in the Australian construction sector as the end of the year approaches.
Approvals for total dwellings were strongest in the two largest states, with Victoria recording a rise of 22.2 percent and NSW 12.5 percent. Western Australia also saw a significant rise of 12.3 percent.
In Queensland, the results were less positive for the sector, with total dwelling approvals falling by -26.9 percent. Tasmania also experienced a drop in approvals in August, down -10.1 percent and South Australia -6.9 percent.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
