Pre-Election Property Auctions Deliver Steady Results
Kanebridge News
Share Button

Pre-Election Property Auctions Deliver Steady Results

The market was steady despite a rush of listings.

By Terry Christodoulou
Mon, May 16, 2022 9:33amGrey Clock 2 min

Capital city clearance rates were mostly steady at the weekend despite a surge in pre-election day listings and the recent increase in official interest rates.

Across the county, the national auction market reported a clearance rate of 71.4% at the weekend — similar to the 71.3% reported last weekend but lower than the 80.8% reported over the same weekend last year.

The pre-election weekend saw 2372 homes listed for auction compared to the previous weekend’s 1667 and similar to the 2401 reported over the same weekend last year.

Sydney’s auction clearance rates were steady but remain at year-low levels again. The weekend saw a clearance rate of 64.1%  — similar to the 64,6% recorded last weekend, but again slower than the 82.9% recorded this time last year.

A total of 810 Sydney homes were listed for auction on Saturday, higher than the 577 auctioned over last weekend — well below the same weekend last year’s 990.

Sydney recorded a median price of $1,690,000 for houses sold at auction at the weekend which was higher than the $1,630,000 recorded last weekend and 3.0% higher than the same weekend the previous year’s $1,641,000.

Melbourne saw a small lift in clearance rates at the weekend, up to 68.7% from the year low of 66.4% recorded the previous weekend. Both results are down on the 78.6% recorded over the same weekend last year.

The Victorian capital saw 1165 homes listed at the weekend — higher than the 767 reported over the previous weekend and similar to the 1159 listed over the same weekend last year.

Melbourne recorded a median price of $1,203,000 for houses sold at auction at the weekend which was higher than the $1,075,000 reported last weekend and also 10.1% higher than the $1,093,000 recorded over the same weekend last year.

Data powered by Dr Andrew Wilson, My Housing Market.



MOST POPULAR

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

Related Stories
Property
Footy fever and holiday vibes impact property auctions
By KANEBRIDGE NEWS 29/09/2023
Property
Dream property not on the market? You can still find it here
By KANEBRIDGE NEWS 28/09/2023
Property
Australian house prices set to surge across the country
By KANEBRIDGE NEWS 27/09/2023
Footy fever and holiday vibes impact property auctions

Scheduled auctions fall to winter levels as vendors hold back on going to market

By KANEBRIDGE NEWS
Fri, Sep 29, 2023 < 1 min

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. 

MOST POPULAR

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

Related Stories
Lifestyle
Meet the Dark Knight—a Brooding, Souped-up Tesla Model S
By Jim Motavalli 27/09/2023
Property
The insurance product giving Australian property buyers surety
By Corey Nugent, CEO Resilience Insurance 22/09/2023
Money
Is China’s Economy Stabilising? Why September’s Data May Disappoint.
By RESHMA KAPADIA 29/09/2023
0
    Your Cart
    Your cart is emptyReturn to Shop