Second busiest auction week saw 70% plus success rate

Second busiest auction week saw 70% plus success rate
Second busiest auction week saw 70% plus success rate

There were 2,837 homes taken to auction across the combined capital cities last week, returning a preliminary auction clearance rate of 74.5 per cent.

The second busiest auction week of the year returned a preliminary clearance rate of 74.5 per cent across the capital cities

The previous week had been the busiest auction week of the year, with 3,206 auctions were held and the final clearance rate of 73.6 per cent.

Over the same week in December 2018, auction volumes were lower with 2,631 homes going under the hammer across the combined capital cities, returning a final auction clearance rate of just 41 per cent.

"Auction markets have been tested on higher volumes over the past few weeks, with the highest number of auctions held so far this year," Tim Lawless at CoreLogic said.

"Despite higher supply levels, clearance rates have held above 70% across the largest markets, demonstrating the market has some depth and sellers remain in a strong position."

Sydney had the highest success rate with the top sale being $6.5 million in Nortbridge (pictured top).

There were 936 auctions held in Sydney this week, returning a preliminary clearance rate of 78 percent.

Second busiest auction week saw 70% plus success rate


It was down on the 1,221 auctions held over the previous week when the final auction clearance rate was 78 percent.

One year ago, 870 auctions were held and the clearance rate came in at 41 per cent.

The 3 Woonona Rd, Northbridge top sale was a five bedroom contemporary home overlooking the Northbridge Golf Club and Middle Harbour.

It sold for $1.2 million above the reservenwith bidding from two of the five registered parties.

Every Sydney sub-region with at least ten sales returned a clearance rate higher than 60 percent, with ten sub-regions returning a clearance rate over 70 percent, and  five regions reporting a clearance rate over 80 percent. 

The city and inner best’ region had the highest preliminary clearance rate, at 86 percent across 60 results, followed by Blacktown at 85 percent across 28 results and North Sydney-Hornsby returning a preliminary clearance rate of 85 percent from 100 results.  

Baulkham Hills and Hawkesbury returned the lowest preliminary clearance rate of any sub-region with more than 10 results at 64.3% from 28 results.

In Melbourne, a preliminary auction clearance rate of 75 per cent was recorded across 1,491 auctions this week, while last week there were 1,533 auctions returning a final clearance rate of 74 per cent. One year ago, the clearance rate was just 43 per cent across 1,283 auctions.

A $4.52 million sale at 29 Ryeburne Avenue, Hawthorn East (below) was Melbourne's top sale through Jellis Craig.

Second busiest auction week saw 70% plus success rate

Killara, a five bedroom home had last sold at $2.75 million in 2012.

It's price guidance had been $4 million to $4.4 million.

Two empty shell apartments in St Kilda’s former Gatwick hotel, not renovated as part of the 2018 season of Nine’s reality renovation TV show The Block, were sold post auction as one package.

The empty ground floor units (below) listed through The Agency fetched $1,710,000 in post-auction negotiations, Domain reported.

Second busiest auction week saw 70% plus success rate

Melbourne has the nation's cheapest sale when $172,000 was paid for 104/224-226 Burwood Hwy, Burwood opposite Deakin University.

The one bedroom unit was currently rented at $330 p/w, according to Fletchers, who had given $150,000 to $165,000 price guidance.

Its asking rent five years ago was $310,000.

Across the smaller auction markets, Canberra saw a 74 percent success rate.

Adelaide had the highest volume of auctions with 146 homes going under the hammer, returning a preliminary clearance rate of 61.8 per cent.

Brisbane saw one of its strongest success rate this spring at 64 percent.

Kedron saw a record price paid when Ray White sold 47 Thirteenth Avenue for $1,720,000, beating the previous record by around $50,000.

After over 150 groups through during the opens the new five bedroom home sold to a couple from Sydney. 

The building blok cost $749,000 earlier this year.

Sydney 3 Woonona Rd, Northbridge NSW 2063, 5 br House, R&W Northbridge $6,500,000
Melbourne 29 Ryeburne Av, Hawthorn East VIC 3123, 4 br House, Jellis Craig Projects | Barenya Court, Kew $4,520,000
Adelaide 4 McLaughlan Av, North Brighton SA 5048, 4 br House, HAR Tagni $1,185,000
Brisbane 49 Riverview Pl, Yeronga QLD 4104, 5 br House, Dixon Family Estate Agents $1,855,000
Canberra 43 Bainton Cr, Melba ACT 2615, 5 br House, Peter Blackshaw Real Estate Belconn $1,475,000

Most affordable

Sydney 3/46 McCourt St, Wiley Park NSW 2195, 1 br Unit, Prof Punchbowl $273,100
Melbourne 104/224-226 Burwood Hwy, Burwood VIC 3125, 1 br Unit, Fletchers Waverley $172,000
Adelaide 99 Victoria Rd, Birkenhead SA 5015, 3 br House, RW Norwood $230,000
Brisbane 3/36 Soudan St, Toowong QLD 4066, 2 br Unit, Professionals - Toowong $425,500
Canberra 38 Tregellas Cr, Banks ACT 2906, 4 br House, McIntyre Property $515,000

Source Domain

Clearance Rate Weekend Auctions

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