The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Urban Leader Awards Logos RGB White
NOMINATIONS CLOSE SEPTEMBER 12 RECOGNISING THE INDIVIDUALS BEHIND THE PROJECTS
NOMINATIONS CLOSING SEPTEMBER 12 URBAN LEADER AWARDS
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
8
print
Print
ResidentialRenee McKeownThu 23 Jan 20

Rebound Drives Auction Results Up 40pc

008a44aa-a19c-4a3a-86a8-b4416dbb8073

The number of auctions shot up 40 per cent to 26,923 over the December quarter, recording a national clearance rate of 70.3 per cent.

This marked an increase from 16,730 at 69.9 per cent in the previous quarter and a massive improvement on the December 2018 quarter when the clearance rate was 43.6 per cent, according to the Corelogic quarterly auction update.

Melbourne recorded the majority of auctions with 12,870 at an average clearance of 72.8 per cent. The best performing suburb was Balaclava with a 100 per cent clearance rate from 22 actions while Reservoir recorded 221 auctions in total.

Sydney had 9,546 auctions at 74.9 per cent with perfect clearance rates from three suburbs—Camperdown 26, Kingsford 27 and Panania 22—and the highest number of auctions was at Mosman reaching 141.

Brisbane had 1,615 auctions clearing at 45 per cent with the best performing suburb at Paddington 66.7 per cent from 21 auctions and Sunnybank Hills had the most auctions at 35.


December quarter auction results

CityMost AuctionsTotal AuctionsAverage Clearance Rate
MelbourneReservoir (221)12,87072.8%
SydneyMosman (141)9,54674.9%
BrisbaneSunnybank Hills (35)1,61545.0%
AdelaideProspect (28)1,38557.4%
CanberraKambah (35)93768.0%
PerthDianella (21)51739.5%
TasmaniaN/A5362.2%
Combined26,92370.3%

Corelogic head of residential research Eliza Owen said these results reflected the quarterly house price jump.

“As prices in Sydney and Melbourne rose 6.2 per cent and 6.1 per cent respectively in the December quarter, a corresponding increase in auction market activity is expected,” she said.

“Vendors have been responsive to higher prices, with auction volumes up by 4.0 per cent year on year.”

Auction volumes increased across all 15 Sydney sub-regions over the December quarter with North Sydney and Hornsby hosting the most auctions at 1,450 and 12 of those regions recorded a clearance rate above 65.0 per cent.

The highest was at the inner west (80.8 per cent), followed by City and inner south (80.4 per cent) while the outer west and Blue Mountains region returned the lowest clearance rate (41.4 per cent).

Eight of the nine Melbourne sub-regions held more than 1000 auctions each, the highest recorded in the Inner region 2,223, followed by Inner South 1,946.

The highest clearance rate went to the inner east 76.4 per cent down from 78.7 per cent in the previous quarter.

ResidentialAustraliaBrisbaneMelbournePerthAdelaideCanberrado not useReal EstateResearch
AUTHOR
Renee McKeown
More articles by this author
ADVERTISEMENT
TOP STORIES
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
Woolloongabba Precinct Vulture St
Exclusive

Brisbane Developer in Cross River Rail Compensation Tussle

Clare Burnett
4 Min
The Mondrian Gold Coast hotel's food and beverage is driving profits
Exclusive

Touch, Taste, Theatre: What’s Driving Mondrian’s Success

Renee McKeown
6 Min
Fortis’ display suites are designed as brand environments first, with tactile details and curated design to build buyer confidence before project specifics.
Exclusive

Relevant or Redundant: Will Tech Kill Display Suites?

Vanessa Croll
7 Min
Exclusive

Missing Heart: Why The Gold Coast Needs a CBD

Phil Bartsch
7 Min
View All >
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
South Melbourne social housing precinct
Affordable & Social Housing

South Melbourne Housing Precinct Revamp Takes Next Step

Leon Della Bosca
Aerial view of Caboolture and Bruce highway to Brisbane with Bribie Island Road crossing, Queensland, Australia
Policy

Queensland’s $2bn Push Opens New Housing Front

Vanessa Croll
First projects named in a statewide plan to fast-track supply, including thousands of homes in a major growth region…
LATEST
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
South Melbourne social housing precinct
Affordable & Social Housing

South Melbourne Housing Precinct Revamp Takes Next Step

Leon Della Bosca
2 Min
Aerial view of Caboolture and Bruce highway to Brisbane with Bribie Island Road crossing, Queensland, Australia
Policy

Queensland’s $2bn Push Opens New Housing Front

Vanessa Croll
2 Min
The Adelaide purpose built student accommodation market is about to increase by 1058 beds with the State Commission Assessment Panel supporting two towers in the making.
Student Housing

Highrise Approvals Add 1000-Plus PBSA Beds in Adelaide

Renee McKeown
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/auction-volume-up-60-nationally