Major Capitals Survive Super Saturday
The pre-Easter auction rush didn’t dampen clearance rates.
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The pre-Easter super Saturday of auctions has provided sellers with generally positive results this year, despite a deluge of listings.
The national auction market reported a clearance rate of 76.0% at the weekend — similar to the previous weekend’s 74.9% yet lower than the 86.2% recorded over the same weekend last year.
National auction numbers week higher at the weekend reflecting — as expected due to the pre-Easter holiday surge — with 3157 reported compared to the previous weekend’s 2551 and the 1909 reported over the same weekend last year.
Despite the market passing the most difficult test of the year so far, Economist Dr Andrew Wilson expects things to slow down.
“Markets will be relatively subdued over the remainder of April due to lengthy holiday distractions and the possibility of the commencement of a lengthy federal election campaign,” said Dr Wilson in his latest auction report.
Sydney reported a clearance rate of 69.4% at the weekend — almost the same as the previous weekend’s 69.7% but well below the 82.4% recorded over the same weekend last year.
The weekend saw a year-to-date high of 1214 auctions — well ahead of the previous weekend’s 958 and the previous year’s 765 auctions recorded.
The NSW capital recorded a median price of $1,815,000 for houses sold at auction at the weekend — higher than the $1,800,000 reported over the previous weekend and the same weekend last year’s $1,550,000.
The Melbourne market survived one of the biggest auction days of the year, reporting a clearance rate of 69.8% on Saturday — just below the previous weekend’s 71.7% and lower than the 79.1% recorded over the same weekend last year.
The Victorian capital saw 1505 homes reported for auction over the weekend — significantly above the previous weekend’s 1259 and the 785 listed over the same weekend last year.
Melbourne recorded a median price of $1,105,500 for houses sold at auction at the weekend which was lower than last weekend’s $1,134,000 – but 16.9% % higher than the $945,750 reported over the same weekend last year.
Data powered by Dr Andrew Wilson, My Housing Market.
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
Scheduled auctions fall to winter levels as vendors hold back on going to market
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Grand final fever and the long weekend have dampened scheduled auction activity this weekend, CoreLogic reports.
The number of homes scheduled for auction this weekend is set to halve, with 1,324 properties listed, marking the quietest week since mid June. Melbourne will experience the quietest week since Easter, CoreLogic data shows, with 223 homes prepared to go under the hammer. In Sydney, 805 properties are expected to go to market, the lowest number in seven weeks.
With long weekends in Queensland and South Australia, numbers are also down in Brisbane (111) and Adelaide (86), less than half the properties available for auction the previous week. It’s a less dramatic drop in Canberra, where 83 homes are scheduled for auction, down -22.4 percent on the previous week.
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
