Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter

Melbourne continues to dominate auction market

Melbourne has recorded a higher clearance rate than Sydney, as well as the national average, for the fifth consecutive week.

The city achieved a clearance rate of 73.3 per cent last weekend compared with 78.4 per cent on the corresponding weekend last year, according to APM PriceFinder.

Melbourne had 658 sales, with the median price for house sales reaching $835,000 and the median price for unit sales reaching $548,000.

Advertisement
Advertisement

Sydney posted a result of 69.6 per cent last weekend compared with 76.9 per cent last year. Sydney reported 560 sales, with a median house price of $1.28 million and a median unit price of $824,000.

Brisbane posted a clearance rate of 55.6 per cent, with 35 sales achieving a median price of $681,000, while Adelaide posted a clearance rate of 72.9 per cent, with 35 sales achieving a median price of $640,000.

Across Australia, there were 1,297 sales, with a median house price of $942,000 and a median unit price of $700,000.

Morton Circular Quay in Sydney achieved the weekend’s best auction result with a five-bedroom Darling Point semi fetching $7.75 million.

Melbourne’s best result went to Hockingstuart Brighton, which sold a five-bedroom house in Brighton East for $3.91 million.

First National Cleveland posted Brisbane’s best result, selling a five-bedroom Cleveland house for $2.80 million.

Adelaide’s best auction went to Ouwens Casserly, which fetched $1.30 million for a four-bedroom Malvern house.

Melbourne continues to dominate auction market
mortgagebusiness

 

Latest News

Finance Minister Matthias Cormann has rejected claims that there has been a “concerted push” from Treasurer Josh Frydenberg to “lower ...

An Australian mortgage fintech has raised $70 million in a series C capital funding round, taking the lender’s total raise to $115 million...

A shortage of land supply has been a key factor in driving property prices upwards over the past decade, according to property economists. ...

FROM THE WEB
podcast

LATEST PODCAST: Transparency around rate cuts

Do you think the mortgage market will see more consolidation this year?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.