Late Spring Surge Sees Major Markets Ease
An increased number of listings is testing buyer depth in Sydney and Melbourne.
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Another surge in Saturday auction numbers has acted to reduce auction clearance rates in Sydney and Melbourne with 2764 auctions scheduled for the weekend compared to 1470 for the same weekend last year.
Strong results from the smaller capitals – such as Brisbane (85.6%), Adelaide (84.7%) and Canberra (92.25%) — assisted a recovery in the national weekend auction clearance rate to 82.3% compared to the previous weekend’s 78.6% and well ahead of the 72.8% recorded over the same weekend last year.
Sydney saw a wave of end-of-year auctions test buyer depth of the local market.
The NSW capital recorded a clearance rate of 76.3% at the weekend – lower than the previous weekend’s 77.8% and similar to the 76.4% recorded over the same weekend last year.
In total, 1075 homes were listed for auction on Saturday – well ahead of the previous weekend’s 988 and significantly higher than the 728 auctioned over the same weekend last year.
Sydney recorded a median price of $1,761,000 for houses sold at auction at the weekend — lower than the $1,780,000 reported over the previous Saturday but 32.4% higher than the $1,330,000 recorded over the same weekend last year.
Melbourne’s market also eased over the weekend reporting a clearance rate of 72.5% on Saturday, lower than the previous weekend’s 77.7% and also lower than the 76.7% recorded over the same weekend last year.
The lower clearance rate comes as listings surged with 1275 homes listed for auction at the weekend — well above the 1206 reported over the previous weekend and significantly higher than the 530 auctioned over the same weekend last year.
Melbourne recorded a median price of $1,064,500 for houses sold at auction at the weekend — lower than the $1,080,000 recorded over the previous weekend and 4.0% lower than the $1,108,500 recorded over the same weekend last year.
Data powered by Dr Andrew Wilson, My Housing Market.
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.
