Auction clearance rate lowest in 13 weeks

By Nick Bendel

Auction clearance rates have dipped below 80 per cent in Sydney for the first time in 13 weeks, although the market remains strong.

The city recorded a clearance rate of 79.7 per cent at the weekend, compared to 73.0 per cent for the corresponding weekend last year, according to APM PriceFinder.

Property sales jumped 35.1 per cent to 470, with the median price for house sales up 21.3 per cent to $1.2 million and the median price for unit sales up 10.1 per cent to $765,000.

Melbourne’s clearance rate climbed to 76.4 per cent, compared to 71.0 per cent the year before.

Sales rose 1.9 per cent to 431, with the median house price increasing 9.6 per cent to $782,000 and the median unit price decreasing 12.9 per cent to $505,000.

Brisbane recorded a clearance rate of 65.4 per cent. There were 34 sales at a median price of $690,000.

Adelaide had a clearance rate of 47.6 per cent, with the 20 sales achieving a median price of $499,000.

Across Australia, the national clearance rate rose from 69.0 per cent last year to 76.3 per cent.

Sales grew 14.9 per cent to 973, with house prices up 16.1 per cent to $908,000 and unit prices up 12.9 per cent to $655,000.

Sydney agency Rich & Oliva had the best result of the weekend, selling a three-bedroom house in Burwood for $4.01 million.

The top result in Melbourne was achieved by Jellis Craig HawthornHawthorn, VIC Hawthorn, SA, which sold a six-bedroom house in Balwyn North for $3.60 million.

In Brisbane, Ray White Toowong sold a four-bedroom Indooroopilly home for $2.30 million; in Adelaide, Smallacombe Real Estate Mitcham sold a five-bedroom Kingswood home for $1.29 million; and in Canberra, Luton Properties Woden sold a four-bedroom Griffith house for $1.19 million.

Auction clearance rate lowest in 13 weeks
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