Auction sales significantly down on last year

Auction sales significantly down on last year

24 February 2015 by Staff Reporter 0 comments

There were big jumps in clearance rates over the weekend – along with big falls in sale numbers.

Sydney’s clearance rate over the weekend was 84.6 per cent – up on the 79.0 per cent recorded at the same time last year, according to Australian Property Monitors.

However, the number of sales fell 24.0 per cent to 452.

The median price of the houses sold jumped 13.9 per cent to $1.3 million, while the median unit price rose 4.0 per cent to $748,000.

Melbourne’s clearance rate increased from 71.9 per cent to 77.3 per cent, while sale numbers declined 28.3 per cent to 552.

Median house prices climbed 6.5 per cent to $852,000, but median unit prices dropped 2.9 per cent to $486,000.

Brisbane enjoyed the biggest clearance rate spike – up from 45.3 per cent to 57.1 per cent. Sales numbers fell 17.6 per cent to 28 and median house prices grew 13.9 per cent to $813,000.

Adelaide’s clearance rate rose from 58.6 per cent to 61.5 per cent. Sales dropped 41.5 per cent to 24 and the median house price climbed 2.6 per cent to $595,000.

[Related: ‘Unprecedented confidence’ drives auctions surge]

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
At the top of his game: how this agent evolves to stay number one

Get up close and personal with the best real estate sales agents in Australia in Secrets of the Top 100 Agents. ...

View all podcasts

Are dodgy agents being punished enough?

Yes (8.6%)
No (55%)
Only in some states (2.3%)
Not all dodgy agents are being found out (34.1%)

Total votes: 220
The voting for this poll has ended on: April 15, 2017
upcoming events
REB Awards
Sydney The Event Centre 12 Sep
REB Awards
Sydney The Event Centre 12 Sep
Melbourne The Event Centre 14 Oct
Brisbane The Event Centre 18 Dec
View all events
Do you have an industry update?