August auction report: Hottest winter under the hammer on record
Despite a month of strict lockdowns and no onsite auctions in many states, high demand and competition drove strong auction outcomes across all capital cities.
Sydney, Brisbane and Canberra's clearance rates were the highest for the month of August on record.
Median house auction prices reached record highs in Sydney and Melbourne, with Brisbane, Canberra and Adelaide close to all-time highs.
Auction Performance August 2021
| City | Clearance Rate | Auctions Scheduled | Auction Sold | Passed In | Sold Prior | Withdrawn |
| Sydney | 77.3% | 2272 | 1737 | 155 | 46.5% | 15.8% |
| Melbourne | 52.5% | 4138 | 1526 | 121 | 28.3% | 43.4% |
| Brisbane | 60.1% | 546 | 323 | 151 | 24.8% | 11.7% |
| Adelaide | 71.2% | 538 | 371 | 111 | 13.2% | 7.5% |
| Canberra | 83.6% | 368 | 255 | 15 | 30.8% | 11.5% |
Houses Auction Performance August 2021
| City | Clearance Rate | Sold Prior | Withdrawn | Median Price |
| Sydney | 78.3% | 43.1% | 14.2% | $1,918,500 |
| Melbourne | 54.7% | 28.5% | 41.5% | $1,193,750 |
| Brisbane | 63.6% | 25.3% | 10.9% | $990,000 |
| Adelaide | 72.2% | 13.8% | 6.7% | $729,000 |
| Canberra | 84.9% | 29.8% | 10.2% | $1,000,000 |
Units Auction Performance August 2021
| City | Clearance Rate | Sold Prior | Withdrawn | Median Price |
| Sydney | 75.2% | 54.0% | 19.2% | $1,113,500 |
| Melbourne | 44.7% | 27.4% | 49.7% | $730,000 |
| Brisbane | 35.8% | 20.9% | 17.9% | $557,500 |
| Adelaide | 59.5% | 7.1% | 16.7% | $500,000 |
| Canberra | 78.3% | 35.0% | 16.7% | $700,000 |
Auction volumes dropped significantly in Sydney and Melbourne due to lockdowns, which in turn boosted clearance rates.
Adelaide's clearance rate was the highest for an August month since 2007, with the City of Churches experiencing the highest volume of auctions for August on record.
In Melbourne, private inspections were banned, which saw hesitant sellers withdraw from auctions.
Houses continue to outperform unit clearance rates across Sydney, Melbourne, Brisbane, Adelaide and Canberra, signalling a further 'divergence'.
Looking ahead to the start of the Spring auction season, Domain predicts that auctions will continue to impact private inspections.
This often leads to a higher than normal proportion of reported auctions that are sold prior and a spike in reported withdrawn auctions.