Home Auction Records Shattered Over June

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Capital city auction markets have continued their recent record monthly performances, reporting more unprecedented results for clearance rates, auction sales, listings and prices for June.

9,551 homes were listed for weekend auctions over June at an average of 2,388 per weekend – a record offering for June.

The average for June was just below the 2,418 reported over May despite the distractions of the Queens Birthday holiday.

Auction 1

Melbourne recorded the highest number of reported weekend auction listings and, with Sydney, again produced new record results for the month of June.

Auction 2

 

National clearance rates have continued to ease from the record results reported over March but nonetheless remained at boomtime levels over June.

Auction 3

 

All capital with the exception of Brisbane recorded declines in clearance rates over June compared to May.

The Melbourne decline reflected the impact of covid lockdowns early in the month on the local market. Canberra and Adelaide continued as the top performers.

Auction 4

Auction prices also declined marginally over June with the median national weekend auction house price down by 2.9% compared to April.

Auction 5

Sydney maintained top position for median weekend auction house prices over June followed by Brisbane and Melbourne.

Auction 6

All capitals reported declines in median weekend auction prices over June compared to May, with Brisbane the underperformer – down by 5.3%.

Auction 8

Weekend home auction clearance rates continue to ease over June although results clearly remain in favour of sellers in all capital city markets.

Record numbers of June auctions following the May record result have provided buyers with more choices although competition for available properties clearly remains strong.

Lower clearance rates have impacted auction prices, however, with all capitals reporting lower house prices over June.

Covid lockdowns in Melbourne early in June impacted results in that market, although activity levels and clearance rates bounced back strongly by the end of the month as restrictions eased.

The other capitals also reported higher clearance rates as the month ended, however, the re-introduction of lockdowns will act to slow markets down over July, together with the usual distactions of mid-winter school holidays.

Despite these constraints, market activity generally is set to remain firmly in favour of sellers.

Auction 9

Melbourne Regions Weekend Auction Results June 2021

Region Results Clearance rate Median
Inner East 294 75.6% S1, oso,ooo
Inner South 316 61.5% $1,250,000
Inner Urban 251 68.6% $870,000
North East 344 77.6% $853,750
Northern 223 90.4% $735,000
Outer East 296 81.3% $1,143,000
South East 120 66.8% $830,000
West 342 71.9% $835,000
Total 2186 73.796 $92s,s00
Houses 1761 75.0% S1, oo1,ooo
Units 425 68.9% $687,600

Brisbane Regions Weekend Auction Results June 2021

Region Results Clearance rate Median
Bayside North 10 80.0% $637,500
Bayside South ii 63.6% $612,500
Brisbane East 38 86.8% $1,368,500
Brisbane North 57  

58.8%

$1,035,000
Brisbane West 120 87.5% $977,500
Total zss 77.196  

$1,060,000

Houses 223 78.4% $1,060,500
Units 12 60%% $724,500

Adelaide Regions Weekend Auction Results June 2021

Region Results Clearance rate Median
Metro East 75 76.6%  

$842,000

Metro North  

15

 

93.3%

$480,000
Metro South 17 73.8% $735,000
Metro West 72  

95.8%

$731,000
Total  

179

 

85.5%

$735,250
House 176 85.2% $735,500
Unit 70.4% $545,000

Canberra Regions Weekend Auction Results June 2021

Region Results Clearance rate Median
Belconnen 39 97.4% $877,500
Canberra Central 79.2% $1,275,000
Gungahlin 51 81.9% $939,000
Tuggeranong 27 88.9% $838,000
Weston Creek 28 96.4% $884,500
Woden Valley 22 86.4% $1,230,000
Total z11 87.496 $920,000
House 205 88%% $937,000
Unit 18 72.3% $575,000
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About

Dr Andrew Wilson, Chief Economist of www.MyHousingMarket.com.au is widely regarded as Australia’s leading property economist.


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