Home Auction Records Shattered Over June

Capital city auction markets have continued their recent record monthly performances, reporting more unprecedented results for clearance rates, auction sales, listings and prices for June.

9,551 homes were listed for weekend auctions over June at an average of 2,388 per weekend – a record offering for June.

The average for June was just below the 2,418 reported over May despite the distractions of the Queens Birthday holiday.

Melbourne recorded the highest number of reported weekend auction listings and, with Sydney, again produced new record results for the month of June.

 

National clearance rates have continued to ease from the record results reported over March but nonetheless remained at boomtime levels over June.

 

All capital with the exception of Brisbane recorded declines in clearance rates over June compared to May.

The Melbourne decline reflected the impact of covid lockdowns early in the month on the local market. Canberra and Adelaide continued as the top performers.

Auction prices also declined marginally over June with the median national weekend auction house price down by 2.9% compared to April.

Sydney maintained top position for median weekend auction house prices over June followed by Brisbane and Melbourne.

All capitals reported declines in median weekend auction prices over June compared to May, with Brisbane the underperformer – down by 5.3%.

Weekend home auction clearance rates continue to ease over June although results clearly remain in favour of sellers in all capital city markets.

Record numbers of June auctions following the May record result have provided buyers with more choices although competition for available properties clearly remains strong.

Lower clearance rates have impacted auction prices, however, with all capitals reporting lower house prices over June.

Covid lockdowns in Melbourne early in June impacted results in that market, although activity levels and clearance rates bounced back strongly by the end of the month as restrictions eased.

The other capitals also reported higher clearance rates as the month ended, however, the re-introduction of lockdowns will act to slow markets down over July, together with the usual distactions of mid-winter school holidays.

Despite these constraints, market activity generally is set to remain firmly in favour of sellers.

Melbourne Regions Weekend Auction Results June 2021

Region	Results	Clearance rate	Median
Inner East	294	75.6%	S1, oso,ooo
Inner South	316	61.5%	$1,250,000
Inner Urban	251	68.6%	$870,000
North East	344	77.6%	$853,750
Northern	223	90.4%	$735,000
Outer East	296	81.3%	$1,143,000
South East	120	66.8%	$830,000
West	342	71.9%	$835,000
Total	2186	73.796	$92s,s00
Houses	1761	75.0%	S1, oo1,ooo
Units	425	68.9%	$687,600

Brisbane Regions Weekend Auction Results June 2021

Region	Results	Clearance rate	Median
Bayside North	10	80.0%	$637,500
Bayside South	ii	63.6%	$612,500
Brisbane East	38	86.8%	$1,368,500
Brisbane North	57	58.8%	$1,035,000
Brisbane West	120	87.5%	$977,500
Total	zss	77.196	$1,060,000
Houses	223	78.4%	$1,060,500
Units	12	60%%	$724,500

Adelaide Regions Weekend Auction Results June 2021

Region	Results	Clearance rate	Median
Metro East	75	76.6%	$842,000
Metro North	15	93.3%	$480,000
Metro South	17	73.8%	$735,000
Metro West	72	95.8%	$731,000
Total	179	85.5%	$735,250
House	176	85.2%	$735,500
Unit		70.4%	$545,000

Canberra Regions Weekend Auction Results June 2021

Region	Results	Clearance rate	Median
Belconnen	39	97.4%	$877,500
Canberra Central		79.2%	$1,275,000
Gungahlin	51	81.9%	$939,000
Tuggeranong	27	88.9%	$838,000
Weston Creek	28	96.4%	$884,500
Woden Valley	22	86.4%	$1,230,000
Total	z11	87.496	$920,000
House	205	88%%	$937,000
Unit	18	72.3%	$575,000

from Property UpdateProperty Update https://propertyupdate.com.au/home-auction-records-shattered-over-june/