Winter Auction Markets End Positively
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Winter Auction Markets End Positively

Engaged sellers drive auction markets.

By Kanebridge News
Mon, Aug 30, 2021 10:03amGrey 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.



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Private sector house approvals gained 5.8 percent in August while private sector residences excluding houses were up 9.4 percent. This follows on from a decrease of 14.6 percent in July and indicates a solid recovery in the Australian construction sector as the end of the year approaches.  

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