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.

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.

Advertisement
Advertisement

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.

PROMOTED CONTENT


Melbourne continues to dominate auction market
mortgagebusiness

Latest News

The RBA has studied the role of collateral in credit markets under stress, and has found that collateralised borrowing rose for some segment...

Auction volumes surged significantly over the December quarter across Australia, largely attributed to a “resurgence” in Melbourne, acco...

Loan conditions and collateral guarantees continue to be major stumbling blocks for small businesses looking to access financing, according ...

FROM THE WEB

Join a group of highly informed brokers.

Broker Pulse, a community-driven knowledge base of lender performance Reveal exactly which lenders are making life easiest for brokers and their clients by taking this monthly survey and joining a group of highly informed brokers who leverage these insights every month.

JOIN NOW
podcast

LATEST PODCAST: A new record in mortgage approvals

Do you expect to see strong uptake of the HomeBuilder scheme?

Website Notifications

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