Record Listings Push Clearance Rate Down
Kanebridge News
Share Button

Record Listings Push Clearance Rate Down

An unprecedented number of auctions tested buyer depth.

By Kanebridge News
Mon, Dec 13, 2021Grey Clock 2 min

The penultimate weekend auction market for 2021 tested the depth of buyers with a record number of listings.

National auction numbers were significantly higher — rising from the previous Saturday’s 3096 to a new weekend record of 3632 — well ahead of the 2078 auctioned over the same weekend last year.

The high volume of auctions sent the national clearance rate down to 75.4% at the weekend — lower than the 76.8% reported the previous weekend and lower than the 78.4% recorded over the same weekend last year.

Sydney’s market recorded a clearance rate of 67.4% — well down on the previous weekend’s 76.6% and significantly lower than the 80.1% recorded over the same weekend last year.

A record 1371 homes were listed for auction on Saturday— well ahead of the previous weekend’s 1189 and higher than the 870 auctioned over the same weekend last year.

Sydney’s median price of $1,707,500 for houses sold at auction at the weekend was higher than the $1,622,500 reported over the previous Saturday and 20.7% higher than the $1,415,000 recorded over the same weekend last year.

In Melbourne, the weekend auction market produced an all-time high number of auctions, breaking recorded for the volume and value of weekend auction sales.

The Victorian capital recorded 1765 homes auctioned at the weekend — well ahead of the 1491 reported over the previous weekend and significantly higher than the 979 auctioned over the same weekend last year.

Despite the surge in listings, Melbourne reported a clearance rate of 70.1% on Saturday – higher than the previous weekend’s 68.5% yet lower than the 73.4% recorded over the same weekend last year.

Melbourne recorded a median price of $1,112,500 for houses sold at auction at the weekend — lower than the $1126,000 recorded over the previous weekend but 7.9% higher than the $1,031,000 recorded over the same weekend last year.

Data powered by Dr Andrew Wilson, myhousingmarket.com.au

MOST POPULAR

Interior designer Thomas Hamel on where it goes wrong in so many homes.

Following the devastation of recent flooding, experts are urging government intervention to drive the cessation of building in areas at risk.

Related Stories

The waterfront residence is one of Port Stephens’ finest homes.

By Kanebridge News
Fri, Aug 12, 2022 2 min

In the coastal township of Salamander Bay — nearby to Port Stephens — comes a unique home crafted to take full advantage of unbroken ocean vistas across three levels.

With one-of-a-kind flair, the stunning 5-bedroom, 3-bathroom, 3-car garage home of 52 Randall Drive Salamander Bay is nestled on a private 577sqm plot, optimised through intelligent design to take advantage of the Port Stephens landscape and lifestyle.

Within the home sees the typically coastal textures of natural oak floor and timber feature walls take hold while stone and tiled adornments add layers of luxury.

The open plan living, kitchen and dining areas incorporate a fireplace and near floor-to-ceiling glass that opens to create a seamless indoor-to-outdoor dining and entertaining space on the home’s top floor.

The heart of this area is the kitchen, centred around a marble-topped island, state-of-the-art European appliances and an attached bar area, with built-in refrigeration, accompanied by a butler’s pantry.

Also here comes a grand outdoor spa, central to the balcony, while another outdoor entertaining area with a pizza oven is found on the middle floor.

Downstairs once again comes a second living space replete with the perfect wine cellar — cooled by the natural rock foundation of the home — offering an array of entertaining options

Of the home’s accommodation comes a private and luxurious master retreat with expansive ocean views, a walk-in wardrobe and an ensuite, here, speckled with grey terrazzo tiling and timber joinery vanities.  A further four bedrooms are found throughout the home along with two family bathrooms rounding out the offering.

Less than a five-minute walk from nearby amenities of shops, restaurants, cafes and beaches the home offers the best of the Port Stephens area.

The listing is with PRD Port Stephens’ Dane Queenan (+61 412 351 819) and Erin Sharp (+61 499 912 311) and is heading to auction; prd.com.au