CoreLogic Quarterly Auction Market Review March 2018 | Sydney

Clearance rates increased across all but two capital cities over the March quarter, with Sydney recording the largest increase, up from 57.7 per cent to 63.6 per cent.

Perth and Tasmania were the only areas where clearance rates fell, with Perth down -5.0 per cent and Tasmania -6.4 per cent across a lower volume of auctions over the quarter. Sydney Bridge]

Melbourne recorded the highest clearance rate at 68.4 per cent, up from 68.1 per cent the previous quarter, followed by Canberra at 67.9 per cent.

Although the combined capital city clearance rate increased over the March quarter, if we compare the latest figures to March 2017, the clearance rate has fallen 10.2 per cent, while auction volumes have increased by 1,460 across the combined capital cities.

Auction volumes fell over the March quarter which is expected given the auction market doesn’t usually pick up until early February, although the week ending 25th March recorded the highest auction volumes on record with 3,990 homes taken to auction across the combined capital cities.

Melbourne was the busiest auction market with 9,488 homes taken to auction over the quarter, followed by Sydney with 7,755 scheduled auctions.

Across the smaller auction markets, Brisbane was host to the highest volume of auctions over the quarter (1,247), followed by Adelaide (961) and Canberra (808).

A1

Weekly clearance rate and volume of auctions, combined capital cities

A2

A3

Capital city key statistics

Capital City Key Statistics

Highest auction volumes (by suburb)

Based on total auctions held across the suburb over the reporting period

Melbourne: Reservoir 149
Sydney: Randwick 128
Brisbane: Sunnybank Hills 28
Canberra: Watson & Curtin 22
Adelaide: Prospect 23
Perth: Gosnells 16

Highest clearance rate (by suburb)

Clearance rates are calculated when there has been at least 20 auction results reported over the period

Melbourne: Carrum Downs 95.2% (captured results: 21, scheduled auctions: 21, number sold: 20)
Adelaide: Prospect 70.0% (captured results: 20, scheduled auctions: 23, number sold: 14)
Sydney: Northbridge 90.5% (captured results: 21, scheduled auctions: 25, number sold: 19)
Canberra: Watson 81.8% (captured results: 22, scheduled auctions: 22, number sold: 18)
Brisbane: Coorparoo 55.0% (captured results: 20, scheduled auctions: 23, number sold: 11)

Capital city sub-regions (Sydney)

A4

Sydney sub-region summary

Across Sydney’s sub-regions, the Eastern Suburbs was the only region to see an increase in auction volumes over the quarter with an additional 81 homes taken to auction, returning the strongest clearance rate of all 15 sub-regions (75.0 per cent). Hornsby

North Sydney and Hornsby was the busiest sub-region this quarter with 1,259 homes taken to auction, followed by the Eastern Suburbs, while the quietest sub-regions were the Outer West and Blue Mountains (63) and Outer South West (82).

Clearance rates increased across 11 of the 15 sub-regions over the March quarter, while remaining unchanged across the Central Coast, and falling across Ryde (-3.8 per cent), Blacktown (-3.4 per cent) and Baulkham Hills and Hawkesbury (-1.8 per cent).

Overall, the clearance rate for Sydney increased from 57.7 per cent to 63.6 per cent over the March quarter, while there were 3,497 fewer homes taken to auction across the city.

A5

Suburb results (city by city)

Includes suburbs where at least 20 auction results were reported over the three month period noting that clearance rates are calculated based on total auction results collected rather than total auctions held.

Suburb (Sydney) Clearance

rate (Mar Q)

Total

auctions (Mar Q)

Alexandria 61.8% 37
Annandale 74.1% 28
Ashfield 64.1% 40
Auburn 50.0% 24
Avalon Beach 75.0% 34
Balgowlah 77.5% 45
Balmain 72.7% 39
Bankstown 55.0% 21
Baulkham Hills 55.3% 41
Beecroft 69.0% 31
Bellevue Hill 78.3% 54
Bexley 48.5% 38
Blacktown 40.5% 42
Bondi 78.6% 53
Bondi Beach 81.7% 70
Bondi Junction 82.5% 50
Botany 69.7% 38
Brighton-Le-Sands 52.4% 21
Bronte 87.2% 45
Burwood 79.2% 27
Cammeray 76.5% 37
Camperdown 56.7% 30
Caringbah 42.9% 26
Caringbah South 42.9% 37
Carlingford 56.3% 35
Castle Hill 50.8% 66
Chatswood 54.5% 62
Cherrybrook 44.4% 30
Clovelly 90.0% 20
Concord 65.0% 23
Coogee 69.0% 63
Cremorne 65.9% 45
Cronulla 51.9% 60
Crows Nest 71.4% 32
Darling Point 72.0% 30
Darlinghurst 63.6% 38

 

North Bondi 86.4% 51
North Ryde 40.0% 28
North Sydney 61.8% 39
Northbridge 90.5% 25
Oatley 72.7% 22
Paddington 76.2% 93
Padstow 56.5% 23
Panania 57.1% 22
Parramatta 47.8% 27
Petersham 81.0% 24
Potts Point 59.3% 32
Pymble 63.0% 51
Pyrmont 57.1% 27
Queens Park 75.0% 21
Queenscliff 69.6% 26
Randwick 82.8% 128
Redfern 73.8% 43
Revesby 79.2% 30
Rose Bay 78.3% 51
Rosebery 70.8% 26
Roseville 64.3% 34
Rozelle 81.8% 28
Ryde 61.8% 47
Sans Souci 52.9% 40
St Ives 67.1% 89
Strathfield 73.7% 41
Summer Hill 73.1% 28
Surry Hills 83.9% 93
Terrigal 61.9% 25
Turramurra 61.0% 49
Vaucluse 84.4% 40
Wahroonga 57.9% 51
Waterloo 62.5% 33
Waverley 81.8% 24
West Pymble 72.0% 29
Wollstonecraft 78.1% 33
Woollahra 74.5% 54

 

Dee Why 62.5% 54
Double Bay 65.6% 36
Drummoyne 65.2% 32
Dulwich Hill 75.0% 41
Earlwood 51.7% 33
Eastwood 45.2% 50
Elizabeth Bay 84.6% 29
Engadine 40.9% 26
Epping 59.2% 56
Erskineville 87.5% 32
Fairlight 85.7% 30
Frenchs Forest 81.8% 25
Freshwater 77.4% 33
Gladesville 62.5% 25
Glebe 80.0% 22
Gordon 77.8% 32
Greenacre 77.4% 35
Guildford 54.5% 22
Hunters Hill 52.2% 26
Hurstville 70.0% 25
Jannali 80.0% 22
Kellyville 57.6% 40
Kensington 67.7% 33
Kingsford 87.5% 28
Lane Cove 65.8% 45
Lane Cove North 67.6% 41
Leichhardt 63.5% 56
Lilyfield 65.2% 24
Lindfield 40.0% 28
Liverpool 40.9% 27
Manly 66.0% 59
Manly Vale 70.8% 26
Maroubra 57.1% 90
Marrickville 76.0% 53
Mascot 59.3% 35
Matraville 64.3% 29
Merrylands 50.0% 28
Miranda 58.6% 34
Mosman 83.3% 99
Naremburn 78.1% 34
Narrabeen 70.8% 25
Neutral Bay 81.0% 45
Newport 50.0% 30
Newtown 79.5% 43
Metropole Property Home Buyers Enquiry

This article first appeared on Sydney Buyers Agent



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About

Cameron Kusher is Corelogic RP Data’s senior research analyst. Cameron has a thorough understanding of the fundamentals such as demographics, trends & economics. Visit www.corelogic.com.au


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