Mid-Winter Auctions Slow And Steady
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Mid-Winter Auctions Slow And Steady

The fragile buyer and seller confidence continues to grip the market.

By Kanebridge News
Mon, Jul 18, 2022 10:30amGrey Clock 2 min

The typically chilly winter home auction market produced steady results across the country at the weekend with a reported clearance rate of 60.8% at the weekend which was lower than the 63.2% of last weekend and significantly lower than the 80.5% of the same weekend last year.

Saturday’s result was the lowest national weekend clearance rate since lockdown-impacted results of August 2020.

National auction numbers were higher at the weekend with 1442 listings compared to last weekend’s 1355 — but well below the same weekend last year’s 2179.

The Sydney auction market reported steady auction clearance rates at the weekend, with results still at the lowest level since April 2020.

The NSW capital recorded a clearance rate of 58.0% at the weekend — similar to the 58.7% recorded the previous weekend and well below the 78.0% recorded over the same weekend last year.

Auction numbers were higher at the weekend with 597 reported compared to the previous weekend’s 562 but again well down on the 872 auctioned over the same weekend last year.

Sydney recorded a median price of $1,515,000 for houses sold at auction at the weekend which was lower than the $1,651,000 recorded last weekend and 5.5% lower than the same weekend last year’s $1,603,000

Melbourne’s clearance rates too held steady, albeit low, with a clearance rate of 60.4% on Saturday which was similar to the previous weekend’s 60.4% on Saturday which was similar to the previous weekend’s 60.0% — lower than the 73.2% recorded over the same weekend last year.

The Victorian capital recorded 598 homes listed at the weekend — higher than the 552 reported over the previous weekend but well below the 1061 listed over the same weekend last year.

Melbourne recorded a median price of $923,000 for houses sold at auction at the weekend which was lower than the $1,025,000 reported last weekend —7.0% lower than the $992,500 recorded over the same weekend last year.

Data Powered by Dr Andrew Wilson; My Housing Market


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