The number of residential properties auctioned around the capital cities of the nation reached 3,009 last week, which is the highest number of auctions this year. It’s only a three-month high, as a similar number of properties hit the auction market in mid-December 2013.
The weighted average clearance rate dropped slightly over the week to 68.8% compared to 69.4% the previous week.
Weekly clearance rate, combined capital cities graph
Sydney recorded the highest clearance rate of 79.5%, compared to Melbourne’s 65.9%. But Melbourne still had the highest number of total auctions at 1,399, compared to Sydney’s 1,151.
Capital city auction statistics table
Sydney’s annual change in home values over the past 12 months is now more than 15% as the average of the combined five capitals of Sydney, Melbourne, Brisbane, Adelaide and Perth was unchanged at 10.7%. Sydney and Perth were the only two capitals to see increases in prices over the week, as Melbourne values dropped by 0.8%.
Capital city home value changes table
The median price for houses sold through private treaty was $730,000 in Sydney and $475,000 in Melbourne. There is a greater number of private treaty sales across the country and they represent approximately 85% of all dwelling sales.
Capital city private treaty median prices table
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