Winter Auction Markets End Positively
Kanebridge News
Share Button

Winter Auction Markets End Positively

Engaged sellers drive auction markets.

By Kanebridge News
Mon, Aug 30, 2021Grey Clock 2 min

The winter weekend auction market has ended on a largely positive note.

A total of 2202 auctions were reported listed nationally at the weekend – higher than the previous weekend’s 1943 and significantly higher than the 737 auctions over the same weekend last year.

The weekend increase in auctions reflected rises in Melbourne (1427), Adelaide (114) and Sydney (488) – however, Brisbane (88) and Canberra (85) were slightly lower.

Despite a rise in listings nationally, the clearance rate decreases sharply – down to 76.2% from 80.7% – the lowest for the year so far.

High withdrawals in Melbourne dragged the national clearance rate down sharply this weekend – while other capitals continued to produce robust results.

In Sydney, the weekend auction market produced strong buyer activity with a clearance rate of 83.35% lower than the previous weekend’s 86.3% and again well ahead of the 70.8% recorded over the same weekend last year.

Of note, Sydney recorded an 80% clearance rate for each weekend of August – a strong showing for a city in the depths of lockdown.

However, the high clearance rates reflect the shortfall of listings mentioned above.

Sydney recorded a median price of $1,757,00 for houses sold at auction at the weekend – lower than the $1,878,000 reported over the previous Saturday but 34.1% higher than the $1,310,000 recorded over the same weekend last year.

While Melbourne listed an impressive number of auctions, a high level of withdrawals impacted the performance of the market.

Just 48.1% of listed auctions cleared on Saturday – well below the previous weekend’s 64.9% – and the lowest since last year’s winter and spring lockdown impacted results.

Melbourne recorded a median price of $1,000,000 for houses sold at auction at the weekend – lower than the $1,018,000 recorded over the previous weekend but 10.3% higher than the $906,500 recorded over the same weekend last year.

Data powered by Dr Andrew Wilson, My Housing Market.

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
By Robyn Willis
Fri, Aug 19, 2022 < 1 min

Treechangers seeking a home and income should take note of this west coast property in picturesque Pickering Brook in the Perth Hills, which comes with its own live-in residents.

Known as ‘the Margaret River of the Hills’ the area boasts stunning bushland while being just 30 minutes from all the amenity Perth has to offer.

With eight bedrooms and 10 bathrooms, this property is a home and business, operating as a thriving day spa, Hidden Valley Eco Lodges and Day Spa.

The private main residence is made of rammed earth for thermal comfort and has three bedrooms, luxurious bathroom and a large open plan living area. A private jacuzzi on the spacious entertaining deck is the perfect spot for enjoying beautiful bushland views at the end of a long day.

For day spa guests, there are four deluxe spa treatment rooms serviced by qualified staff, a reception area and lounge plus a commercial kitchen. Overnight guests can choose from five lodges with fully equipped kitchen and heated jacuzzi. As a going concern with a consistently high annual turnover, it’s a unique opportunity for the right buyer.

Set over 5.46ha, the property is also home to a very special group of residents: a small herd of alpacas, which are included in the sale.

Price guide: $6.5 million

Inspection: By expression of interest

Agent: Susanne Broido, The Agency 0499 770 237