- Clearance rates declined in April for both Melbourne and Sydney
- Both cities continue to see high number of sellers accepting offers before auction day
- Canberra saw house clearance rates above 90% for two consecutive months
Domain has released its auction card report for April which has revealed auction clearance rates across all Australian cities continue to see houses outperform units.
The report shows Sydney and Melbourne both continue to have a high proportion of sellers that are willing to accept an offer before auction day. This is despite both cities recording a decline in clearance rates in April, following multi-year highs over the previous months.
Both the Northern Beaches and Sutherland are the only areas in Sydney to have clearance rates above 80% with Mornington Peninsula being the only Melbourne area to have a clearance rate above 80%.
More specifically, Sydney houses recorded a 77% clearance rate in April for a median of $1.65 million while units recorded a 71.2% clearance rate at a $990,000 median.
This Domain data correlates with SQM Research which shows the clearance rate decreasing gradually over April 2021.
Melbourne saw a 72.1% clearance rate for houses at a median of $999,999 and units at 63% for a median of $685,000.
Over April, SQM Research data shows after a high recorded on the week ending 28 March, the clearance rate decreased to 62% where it hovered around 60% for the remainder of April.
Brisbane and Adelaide also saw increases in the proportion of sellers willing to accept offers before auction day compared to the average over the past decade.
Canberra meanwhile saw house clearance rates above 90% for two consecutive months – a record.
