National Auction Market Stutters
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National Auction Market Stutters

Fewer listings and market distractions keep results stagnant.

By Terry Christodoulou
Mon, Mar 14, 2022Grey Clock 2 min

The national auction market reported a clearance rate of 73.8% at the weekend – similar to the previous weekend’s 73.8% but well below the 85.3% recorded over the same weekend last year.

National auction numbers were lower at the weekend — with wild weather and Labour Day holidays driving the dip in numbers. The market saw 1585 homes listed for auction nationally compared to the 2377 of the previous weekend and well below the 1903 reported for the same Saturday last year.

Despite the meek showing, auction markets are set to return at full pace next weekend as regions recover from flooding and are free from holiday distractions.

The Sydney auction market recorded a clearance rate of 69.8% at the weekend – well below the 76.6% of the previous weekend and a stark comparison to the 90.6% recorded over the same weekend last year.

The NSW capital recorded 884 listings — which is up on the previous weekend’s 841 and well ahead of the 716 auctioned over the same weekend last year.

Sydney recorded a median price of $1,605,500 for houses sold at auction at the weekend – lower than the $1,915,000 reported over the previous weekend and 3.6% higher than the $1,550,000 recorded over the same weekend last year.

Melbourne’s market posted a clearance rate of 70.3% on Saturday – lower than last weekend’s 73.8% and remained well below the 81.5% recorded over the same weekend last year – a non-holiday weekend.

The Victorian capital reported 423 homes listed for auction, which is well down on the previous weekend’s 120 and significantly lower to last year’s non-holiday 9878 auctioned over the same weekend last year.

Melbourne recorded a median price of $1,008,000 for houses sold at auction at the weekend — lower than last weekend’s 1,170,000 but 2.9% higher than the $980,000 recorded over the same weekend last year.

Data powered by Dr Andrew Wilson, My Housing Market.

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Thu, Aug 11, 2022 < 1 min

New research from Knight Frank’s International Waterfront Index shows waterfront properties are costing more than double their inland counterparts in Sydney while in Melbourne waterside properties attract a 40% premium.

Australia’s coastline attracts some of the highest waterfront premiums in the world with Sydney topping the index — an average premium of 121% — compared to an equivalent home set away from the water.

Auckland ranked second on the list of 17 international locations — a premium of 76%. The list saw Gold Coast (71%), Perth (69%) and the Cap d’Antibes (59%) on the French Riviera round out the top 5.

Australia continued to feature prominently in the research with Brisbane’s waterfront premium coming in at 55%, with Melbourne also in the top 10 at 39%.

According to Knight Frank Australia’s head of residential research, Michelle Ciesielski, there has always been strong appetite for Sydney’s waterfront homes.

Australia’s luxury residential market has advanced, it lacks the depth of prestige markets in more established global cities said Cieselski.

“As a result, our Australian cities can achieve a significantly higher premium on the waterfront compared to a similar property inland without access to, or a view of, water,” she said.

“Also, Australia is known for its balmy outdoor lifestyle, so many buyers in this super-prime space are willing to pay a premium to secure the ideal position along the waterfront.”

The data also suggests that beachfront homes were most desirable, commanding a premium of 63% compared to harbour locations fetching 62% premium and coastal homes with a 40% premium.