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Bidders battle elements to boost clearance rates

By Staff Reporter

Despite poor weather conditions, Australia's busiest auction markets showed signs of improvement over the last weekend. 

Melbourne has beaten Sydney’s clearance rate for the sixth consecutive week and the 11th time in 12 weeks.

Melbourne posted a clearance rate of 69.8 per cent last weekend, compared to a rate of 67.9 per cent on the corresponding weekend last year, according to APM PriceFinder.

That compares to a clearance rate of 69.7 per cent the weekend prior.

Auction sales rose 1.1 per cent to 758, with the median price for house sales up 11.8 per cent to $900,000 and the median price for unit sales down 1.0 per cent to $519,000.

Sydney posted a clearance rate of 62.6 per cent last week, compared to 68.2 per cent last year.

That’s an improvement on last week’s 59.2 per cent.

Sales fell 28.5 per cent to 407, but prices rose, with the median house price up 17.8 per cent to $1.31 million and the median unit price up 10.2 per cent to $800,000.

Brisbane posted a clearance rate of 41.8 per cent, with the 33 sales achieving a median price of $635,000.

The Adelaide market recorded a clearance rate of 45.2 per cent, with the 19 sales achieving a median price of $650,000.

Canberra’s clearance rate reached 70.9 per cent, with 39 properties selling at a median price of $682,000.

Across Australia, the clearance rate fell from 66.6 per cent last year to 65.7 per cent last weekend.

Sales fell 11.6 per cent to 1,254, with the median house price increasing 8.5 per cent to $955,000 and the median unit price decreasing 4.0 per cent to $612,000.

Sydney agency McGrath Estate Agents St George achieved the weekend’s best auction result, selling a three-bedroom Blakehurst house for $4.80 million.

Melbourne’s best result was achieved by Vicprop, which sold a five-bedroom Hawthorn East house for $4.36 million.

In Brisbane, Place West sold a five-bedroom Red HillRed Hill, QLD Red Hill, QLD Red Hill, ACT house for $2.20 million.

Adelaide agency Harris Real Estate Glenelg sold a six-bedroom Walkerville house for $2.10 million.

Canberra’s best result was achieved by LJ Hooker Manuka, which sold a four-bedroom Campbell house for $2.10 million.

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Bidders battle elements to boost clearance rates
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