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| City | Clearance Rate | Auctions Scheduled | Auction Sold | Passed In | Sold Prior | Withdrawn |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| City | Clearance Rate | Sold Prior | Withdrawn | Median Price |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| City | Clearance Rate | Sold Prior | Withdrawn | Median Price |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This often leads to a higher than normal proportion of reported auctions that are sold prior and a spike in reported withdrawn auctions.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 | Home Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Repayment type | Rate Type | Offset | Redraw | Ongoing Fees | Upfront Fees | Max LVR | Lump Sum Repayment | Additional Repayments | Split Loan Option | Tags | Features | Link | Compare | Promoted Product | Disclosure |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
6.04% p.a. | 6.08% p.a. | $3,011 | Principal & Interest | Variable | $0 | $530 | 90% | 4.6 Star Customer Ratings |
| Promoted | Disclosure | |||||||||
5.99% p.a. | 5.90% p.a. | $2,995 | Principal & Interest | Variable | $0 | $0 | 80% | Apply in minutes |
| Promoted | Disclosure | |||||||||
6.09% p.a. | 6.11% p.a. | $3,027 | Principal & Interest | Variable | $0 | $250 | 60% |
| Promoted | Disclosure |
Image by Maria Ziegler via Unsplash
Ready, Set, Buy!
Learn everything you need to know about buying property – from choosing the right property and home loan, to the purchasing process, tips to save money and more!
With bonus Q&A sheet and Crossword!
Harry O'Sullivan
Denise Raward
