Lockdown Has Little Effect On Clearance Rate
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Lockdown Has Little Effect On Clearance Rate

The home auction market soldiered on despite digital auctions and mid-winter blues.

By Kanebridge News
Mon, Jul 12, 2021 10:53amGrey Clock < 1 min

Despite lockdowns in Sydney, the national auction market has seemingly skipped past the usual mid-winter slowdown with 2009 homes reported auction on Saturday, July 10.

This result was higher than last weekend’s 1869 listings and more than double the same weekend last year.

The higher auction numbers failed to slowdown buyer activity with the national market reporting a strong clearance rate of 79.5% –  just below the previous weekend’s 79.8%.

Sydney’s auction market is holding on despite the lockdown. Although reporting a year-to-date clearance rate low on Saturday of 76.6%, the figure was just below the 76.9% reported last weekend and well ahead of the 64.6% recorded on the same weekend last year.

782 auctions were reported listed in Sydney on Saturday which was just below the previous weekend’s July record 792 auctions and well above the 452 recorded over the same weekend last year.

Sydney recorded a median price of $1,631,000 for houses sold at auction at the weekend –  well ahead of the $1,500,000 reported over the previous Saturday.

Melbourne’s auction ate was steady at the weekend, with a surge of mid-winter listings.

The Victorian capital Melbourne recorded a clearance rate of 76.7% which was just below the previous weekend’s 76.9% but well ahead of the shutdown impacted the 44.9% of the same weekend last year.

A July record of 977 homes were listed to go under the hammer on Saturday –  well ahead of last weekend’s previous record 853 auctions.

Melbourne recorded a median price of $983,000 for houses sold at auction at the weekend which was lower than the $1,092,000 recorded over the previous weekend and  29.3% higher than the $760,000 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
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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.

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

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

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