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City Clearance Rate Auctions Scheduled Auction Sold Passed In Sold Prior Withdrawn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City Clearance Rate Sold Prior Withdrawn Median Price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City Clearance Rate Sold Prior Withdrawn Median Price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This often leads to a higher than normal proportion of reported auctions that are sold prior and a spike in reported withdrawn auctions.


Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Lender

VariableMore details
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  • $2,000 for loans up to $700,000
  • $4,000 for loans over $700,000
VariableMore details
Refinance OnlyApply In Minutes
  • No application or ongoing fees. Annual rate discount
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  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
VariableMore details
Unlimited Redraws
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  • Get fast pre-approval
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  • Home loan specialists available today
VariableMore details
Unlimited RedrawsApply In Minutes
  • Low Deposit (<95% LVR) with No LMI required
  • Unlimited Redraw and additional repayments
  • No Application or ongoing fees
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Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of February 28, 2024. View disclaimer.

Image by Maria Ziegler via Unsplash





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