It’s now just over a year since the auction clearance rates started showing some real growth. This time last year, the national average auction clearance rate was edging over 64% and, on the weekend, it exceeded 70% for the seventh week in a row. The auction clearance rate was 71.2% across the combined capital cities as 2431 properties were taken to auction.
Source: RP Data
Sydney continued to be the highest performer, with a clearance rate of 77.9% and Melbourne was the best in terms of number of auctions, at 1149. Other states are gradually catching up. Brisbane might lag behind but that’s not necessarily an indicator of future growth, as Margaret Lomas discusses in Shortlisted today.
Source: RP Data
Home values in all five capital cities monitored by RP Data grew over the past week and also the past month, with average growth rates at 0.4% and 2.5% for the week and month respectively. The average home value for the combined five capitals has now grown by 10.7% over the past 12 months.
Source: RP Data
RP Data also monitors capital city private treaty median price data, which shows Sydney has the highest median house price at $729,750 with Darwin, somewhat surprisingly, the next highest at $613,000.
Source: RP Data
Important: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. Consider the appropriateness of the information in regards to your circumstances.
Also in the Switzer Super Report:
- Peter Switzer – What’s wrong with our stock market?
- Peter Switzer – From the top – Gerry Harvey
- Rudi Filapek-Vandyck – Buy, Sell, Hold – what the brokers say
- Paul Rickard – Super cap increases – no deal done
- James Dunn – Five education and training must-have companies
- Penny Pryor – Shortlisted – Toll Holdings and property picks
- Gary Stone – Primary Health primed for breakout
