23/11/2021
Clearance rates have eased compared to boom-time results recorded over previous months.
The usual end of year rush to market by sellers is being amplified by the recent end of covid restrictions that impeded market activity.
Sydney recorded a clearance rate of 77.8%, compared to 76.1% last week and 78.4% over the same weekend last year.
High listing numbers are impacting results, offering more choices for buyers and more competition for sellers. 988 homes were listed for auction, 0.7% lower than the 994 recorded last weekend and 23% higher than the 760 recorded over the same weekend last year.
MEDIAN AUCTION PRICE - $1,600,000
CLEARANCE RATE – 77.8%
The median auction price was $1,600,000 this weekend with a total sales value of $566,561,499 – a 3% decrease in overall median price and a decrease in total sales value (11%).
Houses recorded a median price of $1,780,000 – a 0.02% increase compared to last week ($1,777,500) and 22.8% higher than the same weekend last year ($1,450,000).
TOP REGIONS – South West (84.6%), The Northern Beaches (84.3%), the Inner West (84.05%) and Canterbury Bankstown (83%).
WORST REGION – The North West and the West (69%).
AFFORDABLE – 2 bedroom unit in St Mary’s that sold for $300,000
TOP SALE – 4 bedroom house in North Curl Curl that sold for $8,650,000.
Scroll through the post to see Sydney’s top performing areas as well a national comparison.
Source: Dr Andrew Wilson & Domain