3,491 properties hit the auction markets in the seven major capital cities in the Super Saturday lead up to Easter, the highest it has been all year. This was up from the 2,692 auctions held the previous week.
Weekly clearance Rate, Combined Capital Cities
The weighted average auction clearance rate for the seven combined capital cities was 68.9%, up from 66.2% the previous week. Sydney led the charge with a clearance rate of 78.5%, as Melbourne’s clearance rate dropped to 64.2%. Melbourne still had the highest number of total auctions at 1,519, compared to Sydney’s 1,471.
Capital City Auction Statistics
Capital city home values are now 17% higher in Sydney than they were a year ago and the average home price in the combined five capitals of Sydney, Melbourne, Brisbane, Adelaide and Perth is now 11% higher than it was a year ago.
Capital City Home Value Changes
For houses sold at private treaty, which represents around 85% of all dwelling sales across the country, the median house price of the combined eight capitals is $579,842, which was an increase on the $568,501 recorded the previous week. The median price of units, however, fell slightly from $488,710 the previous week to $486,599 last week.
RP Data is the source for all charts in this article.
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Also in the Switzer Super Report:
- Peter Switzer: Nasdaq freefall – how worried should you be? [1]
- Paul Rickard: ‘You are never too old for super’ – our call to the Murray Review [2]
- Rudi Filapek-Vandyck: Buy, Sell, Hold – what the brokers say [3]
- Penny Pryor: Shortlisted – Resmed, Coca Cola and mega caps [4]
- James Dunn: The new billionaires’ club – M2, AHE & SGH [5]