Sydney tops national auction market

Sydney tops national auction market

09 February 2016 by Staff Reporter 0 comments

Last weekend saw Sydney return to form with 124 sales according to APM PriceFinder, despite this figure being 48.1 per cent lower than the corresponding weekend last year.

Sydney’s clearance rate fell from 81.3 per cent last year to 72.5 per cent, while the median for house sales rose 6.7 per cent to $1,080,500.

Melbourne saw increased sales, jumping 13.0 per cent to 122 properties sold.

The city’s clearance rate rose from 64.3 per cent to 79.2 per cent, while the median for houses fell 3.0 per cent to $739,500.

Adelaide recorded 16 sales, a median price of $577,000 and a clearance rate of 72.7 per cent.

Canberra vendors sold 25 homes with a median of $598,750 and a clearance rate of 71.4 per cent.

In Brisbane, there were 27 sales with a median of $605,000 and a clearance rate of 62.8 per cent.

Across the country, sales figures were 28.8 per cent lower at 314, while the clearance rate rose from 69.8 per cent to 73.9 per cent.

Nationally, the median of houses sold fell 5.0 per cent to $775,000, while the median for units sold rose 10.0 per cent to $772,000.

The best result of the weekend went to Domain Residential in Sydney for a four-bedroom Narrabeen house selling at $2.65 million.

Melbourne’s highest sale was achieved by Fletchers Manningham, after selling a five-bedroom house in Camberwell for $1.91 million.

Adelaide agency Toop & Toop Real Estate Norwood got the city’s best result, selling a five-bedroom Toorak Gardens property for $1.54 million.

Brisbane’s best result went to Ray White Wynnum, selling a four-bedroom Manly house for $1.26 million.

In Canberra, Luton Properties Woden sold a five-bedroom Peace house for $1.20 million.

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