April auctions weakened slightly: Domain

April auctions weakened slightly: Domain
April auctions weakened slightly: Domain

Home auction markets weakened over April with most capitals reporting falling clearance rates compared to the previous month.

Melbourne was the exception with clearance rates increasing marginally from 71.8 percent to 72.5 percent to remain the best performing capital city market.

Clearance rates in all capitals with the exception of Adelaide remain below the levels reported over April last year.

CAPITAL CITY      APRIL 2016     MARCH 2016         APRIL 2015

SYDNEY             68.1 percent    69.2 percent         83.1 percent

MELBOURNE      72.5 percent     71.8 percent        76.9 percent

BRISBANE          41.6 percent     44.9 percent        52.8 percent

ADELAIDE          63.5 percent     64.0 percent        57.1 percent

CANBERRA         62.2 percent    65.6 percent        69.2 percent

Domain noted median auction prices were down over the month in Sydney, Melbourne and Brisbane reflecting to some extent the impact of holidays with fewer higher-priced homes in the market.

The number of auctions listed this year so far however is higher than the result over the same period last year in all capitals except Sydney where auction volumes have fallen sharply by 6.5 percent.

 

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 Median Prices

Comments

Be the first one to comment on this article
What would you like to say about this project?