Slipping into the 60s on September's Sydney Super Saturday

Slipping into the 60s on September's Sydney Super Saturday
Slipping into the 60s on September's Sydney Super Saturday

Sydney's busiest September auction Saturday on record had 900 plus homes listed to go under the hammer, well ahead of the 832 listed last weekend and the 723 auctioned over the same weekend last year.

The recent surge in supply has helped ease auction clearance rates, to their lowest in three years. 

APM's preliminary 729 results put the clearance rate at 69.6%.  

Domain Group’s senior economist, Dr Andrew Wilson said the market was evolving into a buyer’s market.

“Sydney’s great auction boom has clearly ended,” he said. 

Last weekend's preliminary clearance rate of 71.3% was revised down again

It was lower than the 72.4% recorded the previous weekend and significantly below the 83.9% reported over the same weekend last year. 

APM had the inner west as hosting the highest number of auctions on Saturday with 139 listings.

The next highest is the upper north shore with 130 followed by the south with 127, the city and east 111, the lower north 86, the west 84, the south west 74, the northern beaches 70, Canterbury Bankstown 66, the north west 59, the central coast 23 and the Blue Mountains 1.

The leading suburb for auctions this weekend was again Mosman with 17 followed by Baulkham Hills and Ashfield each with 13, Chatswood, Manly and Redfern each with 11 and a number of suburbs with 10 auctions listed on Saturday including Bexley, Carlingford, Blacktown and Paddington.

Most expensive

 
Sydney 76 New Beach Rd, Darling Point NSW 2027, 5 br Semi, Morton Circular Quay $7,750,000
Melbourne 38 Edro Av, Brighton East VIC 3187, 5 br House, Hocking Stuart $3,910,000
Adelaide 187 Wattle St, Malvern SA 5061, 4 br House, Ouwens Casserly $1,300,000
Brisbane 30/135 Shore St W, Cleveland QLD 4163, 5 br House, FN Cleveland $2,800,000
Canberra 252 La Perouse St, Red Hill ACT 2603, 5 br House, Luton Properties - Manuka $1,360,000

Most affordable

 
Sydney 5/34 Remembrance Av, Warwick Farm NSW 2170, 2 br Unit, Prudential Liverpool $364,500
Melbourne 2/264 Melrose Dr, Tullamarine VIC 3043, 2 br Unit, Jason Real Estate Sales PTY LTD $280,000
Adelaide 21 Forest Av, Paralowie SA 5108, 3 br House, Harris Real Estate - Glenelg $229,250
Brisbane 19/202 Fryar Rd, Eagleby QLD 4207, 3 br Townhouse, LJH Beenleigh $243,600
Canberra 24/6 Antis St, Phillip ACT 2606, 2 br Townhouse, LJH Tuggeranong $322,000

 

 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

Tags: 
Auctions Clearance Rate

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