Prices rise in pre-Christmas auction sales

Prices rise in pre-Christmas auction sales

Auction
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Melbourne has again outperformed Sydney as Australia’s two biggest auction markets ended the year with another 530 sales.

Melbourne posted a clearance rate of 68.9 per cent last weekend, compared to 62.1 per cent on the corresponding weekend last year, according to APM PriceFinder.

There were 374 sales, with the median price for house sales up 8.3 per cent to $706,000 and the median price for unit sales up 17.0 per cent to $530,000.

Sydney ended the year with a clearance rate of 61.4 per cent – well down on the 74.0 per cent clearance rate from the end of 2014.

Sales dropped 45.1 per cent to 156, although the median house price jumped 20.6 per cent to $1.11 million and the median unit price jumped 30.7 per cent to $800,000.

Brisbane posted a clearance rate of 36.4 per cent, with the 20 sales achieving a median price of $615,000.

Adelaide’s clearance rate reached 76.7 per cent, with 23 homes sold at a median price of $585,000.

The Canberra market had a clearance rate of 54.5 per cent, with the 18 sales achieving a median price of $645,000.

Across Australia, the clearance rate fell from 64.9 per cent to 64.6 per cent.

Sales fell 5.7 per cent to 861, with the median house price rising 6.9 per cent to $762,000 and the median unit price climbing 19.0 per cent to $655,000.

The best result of the weekend was achieved by Sydney agency LJ Hooker Leppington, which sold a seven-bedroom Kemps Creek house for $2.80 million.

Melbourne business Philip Webb Real Estate Doncaster East sold a five-bedroom Balwyn house for $2.75 million.

In Brisbane, Ray White Stones Corner sold a four-bedroom Norman Park house for $1.62 million.

Adelaide agency Ouwens Casserly sold a three-bedroom Goodwood house for $1.19 million.

Canberra’s best result was achieved by LJ Hooker Gungahlin, which sold a four-bedroom Nicholls house for $1.33 million.

[Related: The previous weekend’s results]

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