Powered by MOMENTUM MEDIA
realestatebusiness logo

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.

Melbourne continues to dominate auction market
mortgagebusiness

Latest News

The brokerage has teamed with the fintech, for the launch of a new app that will let borrowers compare pricing and environmental impact acro...

The desire to secure a mortgage has collapsed across the country, according to a new analysis from Equifax. ...

The Reserve Bank will be closely watching how households respond to higher rates as it decides its next move, ANZ senior economists have sai...

VIEW ALL

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

What is the maximum proportion of income borrowers should use to service a mortgage?

Website Notifications

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