Home Auction Records Shattered Over June

By:

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

RegionResultsClearance rateMedian
Inner East29475.6%S1, oso,ooo
Inner South31661.5%$1,250,000
Inner Urban25168.6%$870,000
North East34477.6%$853,750
Northern22390.4%$735,000
Outer East29681.3%$1,143,000
South East12066.8%$830,000
West34271.9%$835,000
Total218673.796$92s,s00
Houses176175.0%S1, oo1,ooo
Units42568.9%$687,600

Brisbane Regions Weekend Auction Results June 2021

RegionResultsClearance rateMedian
Bayside North1080.0%$637,500
Bayside Southii63.6%$612,500
Brisbane East3886.8%$1,368,500
Brisbane North57 

58.8%

$1,035,000
Brisbane West12087.5%$977,500
Totalzss77.196 

$1,060,000

Houses22378.4%$1,060,500
Units1260%%$724,500

Adelaide Regions Weekend Auction Results June 2021

RegionResultsClearance rateMedian
Metro East7576.6% 

$842,000

Metro North 

15

 

93.3%

$480,000
Metro South1773.8%$735,000
Metro West72 

95.8%

$731,000
Total 

179

 

85.5%

$735,250
House17685.2%$735,500
Unit70.4%$545,000

Canberra Regions Weekend Auction Results June 2021

RegionResultsClearance rateMedian
Belconnen3997.4%$877,500
Canberra Central79.2%$1,275,000
Gungahlin5181.9%$939,000
Tuggeranong2788.9%$838,000
Weston Creek2896.4%$884,500
Woden Valley2286.4%$1,230,000
Totalz1187.496$920,000
House20588%%$937,000
Unit1872.3%$575,000
icon-podcast-large

Subscribe & don’t miss a single episode of Michael Yardney’s podcast

Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.

Need help listening to Michael Yardney’s podcast from your phone or tablet?

We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.

icon-email-large

Prefer to subscribe via email?

Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.


About

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


'Home Auction Records Shattered Over June' have no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.
CAPTCHA Image

*


Copyright © Michael Yardney’s Property Investment Update Important Information
Content Marketing by GridConcepts