Auction volumes and clearance rates rise in Spring

Auction volumes and clearance rates rise in Spring
Auction volumes and clearance rates rise in Spring

Spring auction volumes rose across the capital cities, with 1,907 homes taken to market.

The listings secured a 58 percent preliminary clearance rate.

Last weekend, there was a 55 percent success rate from the 1,748 auctions.

The same week last year saw a much higher 66.9 per cent success rate from 2,258 auctions.

There were 654 auctions held in Sydney, returning a preliminary auction clearance rate of 57.8 per cent.

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Auction volumes and clearance rates rise in Spring

Last week, there were 664 auctions held and the final auction clearance rate was 53.8 per cent, while one year ago, 826 Sydney homes went to auction and the clearance rate came in at 65.8 per cent.

AMP Capital chief economist Shane Oliver said the reduced supply was restricting the decline.

Sydney's top sale was 173 Underwood Street Paddington (top) which fetched $6.05 million post-auction.

Fairfax Media described the auction as an "auction fizzer" as there was not a single bid from the three registered bidders for the terrace set on 388 square metres.

Melbourne's most expensive home sold was a four-bedroom home in Toorak (below) sold at $6.01 million.

Auction volumes and clearance rates rise in Spring

There were five registered bidders for 18 Selborne Road with bidding kicking off at $5.4 million at its Marshall White auction.

Kieran Jiwa at the James Buyers Advocates described the auction vibe as "strong."

The new owners will renovate the 25-year-old home which had come with $5.4 million to $5.8 million price guidance.

It last sold at 1996 at $487,500.

Melbourne was the busiest capital city weekend auction locality.

There was a clearance rate of 62.4 per cent across 894 auctions, up from 57 per cent across 805 auctions last week. 

One year ago, the clearance rate was a stronger 71.8 per cent across a significantly higher volume of auctions (1,111). 

Adelaide returned the strongest preliminary clearance rate of 64.8 per cent, just ahead of 64.4 percent in Canberra.

Only 18.8 per cent of homes sold across Perth. There was a 49 percent success rate in Brisbane.

Brisbane's top sale was $4.35 million for a grand house at 100 Oriel Road, Clayfield by a local family with school aged children upgrading from nearby Hendra. 

Ray White New Farm agent Tom Lyne said the 1987 built home had been tightly held for three decades.

The four bedroom which sits on 2034 sqm with manicured gardens and Helidon sandstone.

“A home of this calibre is rarely offered to the Brisbane market.”

An accountant Gregory Hall secured a $920,000 East Brisbane home at weekend auction which will bring an end to his family living on their catamaran moored at Dockside, Kangaroo Point.

They have been there since 2010 after they sailed from South Africa with their three children. 

"We were actually heading for New Zealand but we fell in love with Brisbane,” said the CFO who works in Milton.

“We have just sold our boat and the time is right for us now to buy a home as our children are bigger,” he said.

The family had been looking since last December.

Selling agent Madi Roche of Ray White East Brisbane secured the weekend sale of the six bedroom 1910 home on Didsbury Street, East Brisbane.

Tags: 
Residential Auctions Spring Listings

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