The preliminary auction clearance results are in from Domain. Once again further confirmation of slowing momentum, though possibly distorted by the impending holidays. Sydney’s results last week settled at 48.6%, well below the national average, and the count is lower this week.
The preliminary auction results are in from Domain. We see an ongoing weakening trend, especially in Sydney where last week clearances settled at 51.4%, and the preliminary today is 58.2% so far, but will settle lower.
Comparing the results with last year, both the volume of sales and auctions are down. This will continue to lead home prices lower.
Brisbane achieved 44% of 117 scheduled, Adelaide 67% of 108 and Canberra 68% of 80.
The latest results from Domain show that the volume of auctions this week was lower, and last week the clearance rate ended up at a weak 58.7% nationally. More evidence that momentum is easing, especially in Sydney.
Brisbane cleared 45% of 131 scheduled, Adelaide 58% of 87 and Canberra 77% of 81 auctions scheduled, so the strongest result.
The preliminary results are in from Domain. Melbourne continues to run ahead of Sydney, with rates in the mid 60’s, significantly below this time last year. Typically the final results are lower. More evidence of a cooling market, so expect prices to move lower.
The Domain preliminary auction clearance results are in, and they appear to reveal another weak result, especially in the Sydney market. The overall rates are lower than this time last year.
The Domain preliminary auction results are in, and the national clearance rate is sitting at around 66%, compared with 71% last year, on lower volumes. Melbourne of course is down ahead of the Melbourne Cup.
Brisbane cleared 43% of 125 scheduled auctions, Adelaide 63% of 83 scheduled and Canberra 71% of 100 auctions. So momentum is strongest in Canberra and Melbourne, although more property actually changed hands in Sydney. We expect the weakness in the market to continue in the weeks up to the summer break.
We have the preliminary results from Domain, which underscores the gap between the momentum in Sydney and Melbourne. Total listings and clearance rates were significantly higher down south.
In addition, while Brisbane achieved 39% on 135 scheduled auctions, Adelaide, reached 69% of 96 scheduled (at a clearance rate HIGHER than Sydney!) and Canberra cleared 82% of 100 scheduled, the highest in the country. This chimes with our surveys, which shows significant numbers of property investor switching away from Sydney and towards both Canberra and Adelaide, where property is more reasonable, and where tenants are paying, on a net rental basis, higher rates.
So the question is, will Sydney continue to stall, as prices continue to slide, and will the same falling trends begin to spread to the more buoyant states?
We are on a knife edge…!
The preliminary auction clearance results are in from Domain. Looks like the volume of sales has fallen compared with last week (even though the clearance rate is higher) and last year – all subject to final results later of course. Melbourne is still hotter than Sydney, where our leading indicator research suggests appetite for property is cooling the fastest.
The preliminary auction results are in from Domain. The trend continues with lower volumes but still strong clearance rates in the main centres, and with Melbourne leading the charge.
The preliminary auction clearance results are in from Domain. Given it is a long weekend, the number of sales are way down on last week.
Brisbane cleared 47% of 78 scheduled, Adelaide had no sales on 8 listed, and Canberra cleared 73% of the 35 scheduled auctions.