CoreLogic Quarterly Auction Market Review March 2018 | Sydney

Clearance rates increased across all but two capital cities over the March quarter, with Sydney recording the largest increase, up from 57.7 per cent to 63.6 per cent.

Perth and Tasmania were the only areas where clearance rates fell, with Perth down -5.0 per cent and Tasmania -6.4 per cent across a lower volume of auctions over the quarter. 

Melbourne recorded the highest clearance rate at 68.4 per cent, up from 68.1 per cent the previous quarter, followed by Canberra at 67.9 per cent.

Although the combined capital city clearance rate increased over the March quarter, if we compare the latest figures to March 2017, the clearance rate has fallen 10.2 per cent, while auction volumes have increased by 1,460 across the combined capital cities.

Auction volumes fell over the March quarter which is expected given the auction market doesn’t usually pick up until early February, although the week ending 25th March recorded the highest auction volumes on record with 3,990 homes taken to auction across the combined capital cities.

Melbourne was the busiest auction market with 9,488 homes taken to auction over the quarter, followed by Sydney with 7,755 scheduled auctions.

Across the smaller auction markets, Brisbane was host to the highest volume of auctions over the quarter (1,247), followed by Adelaide (961) and Canberra (808).

Weekly clearance rate and volume of auctions, combined capital cities

Capital city key statistics

Highest auction volumes (by suburb)

Based on total auctions held across the suburb over the reporting period

Melbourne:	Reservoir	149
Sydney:	Randwick	128
Brisbane:	Sunnybank Hills	28
Canberra:	Watson & Curtin	22
Adelaide:	Prospect	23
Perth:	Gosnells	16

Highest clearance rate (by suburb)

Clearance rates are calculated when there has been at least 20 auction results reported over the period

Melbourne:	Carrum Downs 95.2% (captured results: 21, scheduled auctions: 21, number sold: 20)
Adelaide:	Prospect 70.0% (captured results: 20, scheduled auctions: 23, number sold: 14)
Sydney:	Northbridge 90.5% (captured results: 21, scheduled auctions: 25, number sold: 19)
Canberra:	Watson 81.8% (captured results: 22, scheduled auctions: 22, number sold: 18)
Brisbane:	Coorparoo 55.0% (captured results: 20, scheduled auctions: 23, number sold: 11)

Capital city sub-regions (Sydney)

Sydney sub-region summary

Across Sydney’s sub-regions, the Eastern Suburbs was the only region to see an increase in auction volumes over the quarter with an additional 81 homes taken to auction, returning the strongest clearance rate of all 15 sub-regions (75.0 per cent). 

North Sydney and Hornsby was the busiest sub-region this quarter with 1,259 homes taken to auction, followed by the Eastern Suburbs, while the quietest sub-regions were the Outer West and Blue Mountains (63) and Outer South West (82).

Clearance rates increased across 11 of the 15 sub-regions over the March quarter, while remaining unchanged across the Central Coast, and falling across Ryde (-3.8 per cent), Blacktown (-3.4 per cent) and Baulkham Hills and Hawkesbury (-1.8 per cent).

Overall, the clearance rate for Sydney increased from 57.7 per cent to 63.6 per cent over the March quarter, while there were 3,497 fewer homes taken to auction across the city.

Suburb results (city by city)

Includes suburbs where at least 20 auction results were reported over the three month period noting that clearance rates are calculated based on total auction results collected rather than total auctions held.

Suburb (Sydney)	Clearance rate (Mar Q)	Total auctions (Mar Q)
Alexandria	61.8%	37
Annandale	74.1%	28
Ashfield	64.1%	40
Auburn	50.0%	24
Avalon Beach	75.0%	34
Balgowlah	77.5%	45
Balmain	72.7%	39
Bankstown	55.0%	21
Baulkham Hills	55.3%	41
Beecroft	69.0%	31
Bellevue Hill	78.3%	54
Bexley	48.5%	38
Blacktown	40.5%	42
Bondi	78.6%	53
Bondi Beach	81.7%	70
Bondi Junction	82.5%	50
Botany	69.7%	38
Brighton-Le-Sands	52.4%	21
Bronte	87.2%	45
Burwood	79.2%	27
Cammeray	76.5%	37
Camperdown	56.7%	30
Caringbah	42.9%	26
Caringbah South	42.9%	37
Carlingford	56.3%	35
Castle Hill	50.8%	66
Chatswood	54.5%	62
Cherrybrook	44.4%	30
Clovelly	90.0%	20
Concord	65.0%	23
Coogee	69.0%	63
Cremorne	65.9%	45
Cronulla	51.9%	60
Crows Nest	71.4%	32
Darling Point	72.0%	30
Darlinghurst	63.6%	38

 

North Bondi	86.4%	51
North Ryde	40.0%	28
North Sydney	61.8%	39
Northbridge	90.5%	25
Oatley	72.7%	22
Paddington	76.2%	93
Padstow	56.5%	23
Panania	57.1%	22
Parramatta	47.8%	27
Petersham	81.0%	24
Potts Point	59.3%	32
Pymble	63.0%	51
Pyrmont	57.1%	27
Queens Park	75.0%	21
Queenscliff	69.6%	26
Randwick	82.8%	128
Redfern	73.8%	43
Revesby	79.2%	30
Rose Bay	78.3%	51
Rosebery	70.8%	26
Roseville	64.3%	34
Rozelle	81.8%	28
Ryde	61.8%	47
Sans Souci	52.9%	40
St Ives	67.1%	89
Strathfield	73.7%	41
Summer Hill	73.1%	28
Surry Hills	83.9%	93
Terrigal	61.9%	25
Turramurra	61.0%	49
Vaucluse	84.4%	40
Wahroonga	57.9%	51
Waterloo	62.5%	33
Waverley	81.8%	24
West Pymble	72.0%	29
Wollstonecraft	78.1%	33
Woollahra	74.5%	54

 

Dee Why	62.5%	54
Double Bay	65.6%	36
Drummoyne	65.2%	32
Dulwich Hill	75.0%	41
Earlwood	51.7%	33
Eastwood	45.2%	50
Elizabeth Bay	84.6%	29
Engadine	40.9%	26
Epping	59.2%	56
Erskineville	87.5%	32
Fairlight	85.7%	30
Frenchs Forest	81.8%	25
Freshwater	77.4%	33
Gladesville	62.5%	25
Glebe	80.0%	22
Gordon	77.8%	32
Greenacre	77.4%	35
Guildford	54.5%	22
Hunters Hill	52.2%	26
Hurstville	70.0%	25
Jannali	80.0%	22
Kellyville	57.6%	40
Kensington	67.7%	33
Kingsford	87.5%	28
Lane Cove	65.8%	45
Lane Cove North	67.6%	41
Leichhardt	63.5%	56
Lilyfield	65.2%	24
Lindfield	40.0%	28
Liverpool	40.9%	27
Manly	66.0%	59
Manly Vale	70.8%	26
Maroubra	57.1%	90
Marrickville	76.0%	53
Mascot	59.3%	35
Matraville	64.3%	29
Merrylands	50.0%	28
Miranda	58.6%	34
Mosman	83.3%	99
Naremburn	78.1%	34
Narrabeen	70.8%	25
Neutral Bay	81.0%	45
Newport	50.0%	30
Newtown	79.5%	43

This article first appeared on Sydney Buyers Agent

from Property UpdateProperty Update https://propertyupdate.com.au/corelogic-quarterly-auction-market-review-march-2018-sydney/