Sydney auction clearance rates soaring: APM's 2006-2013 chart

Alistair WalshDecember 7, 2020

Auction clearance rates have been bouyed by investor activity at record levels in Sydney, contributing also to strong quarterly price growth, according to the latest housing market report from Australian Property Monitors.

sydney-aug-26-chart-one

“The Sydney housing market continues to track at record levels, with the July auction clearance rate at 75.9% - the highest ever recorded for that month and the second highest monthly rate on record,” the report by Australian Property Monitor senior economist, Dr Andrew Wilson says.

“Seller activity is responding to strong clearance rates, with Sydney auction listings in July 16.4% higher when compared to July last year.

“Sydney house prices are unsurprisingly on the rise as buyer competition for properties intensifies. The Sydney median house price rose by 2.7% over the June quarter, which was the highest quarterly rise recorded since March 2012. Sydney house prices increased by 4.2% over the first half of 2013, and were up a total of 6.7% over the whole financial year.

“Investor activity continues to be a significant contributor to the Sydney housing market, with latest ABS lending data for New South Wales showing investors at record levels, and contributing to more than half of national home loan commitments.”

sydney-aug-26-chart-two

Alistair Walsh

Deutsche Welle online reporter

Editor's Picks