COVID Withdrawals Drag Clearance Rates Down | Kanebridge News
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COVID Withdrawals Drag Clearance Rates Down

A deluge of sellers brought auction activity to unprecedented levels.

By Kanebridge News
Mon, Jun 7, 2021 10:44amGrey Clock 2 min

A steady stream of sellers continues to flood national auction markets in record numbers as the winter selling season kicked off on Saturday June 5.

A total of 2697 homes were reported listed by the national auction capitals on Saturday – higher than the previous weekends 2505 – a record June offering and the second highest for the year so far.

National clearance rates, however, eased once again, reflecting the surge in listings alongside high withdrawals in a Melbourne market impacted by the COVID-related lockdown measures.

Saturday’s national clearance rate of 80.7% was the lowest of the year so far, below the previous weekend’s 82%.

The Sydney auction marked hosted another remarkable number of listings on Saturday to smash the June record for the number of properties auctioned. The city reported 1048 auctions on Saturday, higher than the previous weekend’s 981, and the second highest of the year so far.

The clearance rate lowered to 80.8% in Sydney on Saturday, lower than the previous weekend’s 82.2% but higher than the 57.9% recorded over the same weekend last year.

Despite the result being the lowest for the Harbour City this year, it marked the 17th consecutive weekend of clearance rates above 80%.

Sydney recorded a median price of $1,605,000 for houses sold at auction at the weekend which the same as reported over the previous Saturday but 17.8% higher than the $1,362,500 recorded over the same weekend last year. 

Melbourne reported a clearance rate of 72.2% which was lower than the 76.5% recorded the previous weekend and the lowest result since the 66.9% recorded over October 24th last year – also impacted by lockdown at that time.

Further, Melbourne reported a remarkable 1379 auctions on Saturday which was well ahead of the 1272 conducted the previous weekend and the second highest for the year so far.

Melbourne recorded a median price of $1,046,000 for houses sold at auction on the weekend which was higher than the $987,500 recorded over the previous weekend and 25.6% higher than the $833,000 recorded over the same weekend last year.

Data powered by Dr Andrew Wilson of My Housing Market.


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1. Interiors beyond the primary palette 

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Step inside the world of award-winning interior design duo Juliette Arent and Sarah-Jane Pyke in this, their first compendium of their work. A ‘best of’ over more than 15 years working together, it’s a masterclass in working with colour and pattern as seen through 18 projects from around the country. With a focus on the idea of home as sanctuary, this hefty tome offers insight into the mind of the designer with points on where to find  inspiration, meeting client briefs and the importance of relationships. Thames & Hudson, $120

2 House of Joy

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If there was ever a book title for our times, then this is it. With a subtitle of Playful Homes and Cheerful Living, this book champions fun in interior design, with bold and bright homes from around the world to delight and inspire. While there’s a good dose of the unexpected, like a disco ball in the garden, there’s no mayhem in these spaces. Instead, they’re beautifully executed to tempt even the most colour shy. Gestalten, $105  

3. Abigail Ahern Masterclass

Abigail Ahern's Masterclass :HarperCollins Australia

Some design books are beautiful to look at, and that’s it. This is not one of those books. A master of colour and pattern, UK designer Ahern offers a practical foundational guide to beautiful interiors, mixing form with function in her latest book, Masterclass. Find the inspiration you need to create a gorgeous home. HarperCollins, $65  

4. Interiors Now!

Looking for a visual crash course in international design trends with longevity? This is the book for you. Featuring homes across the globe, from New York to Auckland via Avignon, the biggest dilemma for readers is settling on a style. Many of the projects are owned by designers and creatives, lending a dynamic edge to this tome, now in its 40th year. Taschen, $50

5. Home by the Sea 

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For many Australians, the ocean holds an almost hypnotic appeal. Home by the Sea by Natalie Walton lets you imagine, for a little while at least, what it’s like living the dream in a beach shack in Byron Bay. The book tours 18 homes in and around the region and the hinterland owned by artists, designers and makers. With photography by Amelia Fullarton, it champions the good life. Hardie Grant, $60            

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