Adam Mastrosa’s Post

Auction Market Update: Clearance Rates Hold as Listings Dip for Melbourne Cup Weekend Lower auction listings this week came as no surprise, with Melbourne’s activity dipping for the Melbourne Cup long weekend 🏇. Despite fewer listings, clearance rates across the board remained stable, showing solid market resilience. Here’s the breakdown: 👉 National Trends - National clearance rate: 59.8% – slightly down from last week’s 61.0% - Spring selling season continues, though clearance rates are easing with higher listing volumes 👉 Sydney Highlights - Clearance rate at 64.7% with high listing numbers—1,407 homes on auction - Highest regional clearance: Lower North at 75.7%, while the Central Coast lagged at 25% - Median house auction price: $1,650,000 Top sale: A stunning 5-bedroom home in Chatswood at 13 Robinson St sold for $7.1M! 👉 Melbourne Recap - Clearance rate edged up to 66.1%, even with just 603 homes listed (a big drop from last week’s 1,479) - Highest regional clearance: North East at 78.6% - Median auction price for houses: $801,000 Top sale: A 4-bedroom property in Essendon at 29 Crisp St went for $3.4M. Key Takeaways - Strong demand with clearance rates steady, despite fluctuating auction volumes - Lower listing numbers tied to major events like the Melbourne Cup weekend - Prices stable but lower than last year’s averages in both Sydney and Melbourne What do you think—are these steady clearance rates a sign of underlying market strength or just a momentary lift from reduced listings? #AuctionUpdate #RealEstateTrends #PropertyMarket #AuctionClearance #MelbourneCup

Mid-Spring Auction Market Holds Steady with Pre-Cup Super Saturday Looming Auction markets are still buzzing this spring, with sellers seeing solid outcomes across the board. Last weekend’s auction clearance rate hit 61%, slightly below the previous week’s 62.1% and well under last year’s 68.7%. Here are some key takeaways from the latest numbers: 👉 National Auction Activity - 2,373 auctions took place – down slightly from last weekend’s 2,499 but well above the 1,989 held this time last year - Next week’s Pre-Melbourne Cup Super Saturday will flood the market, testing buyer demand 👉 Sydney Highlights 🏙️ - Clearance rate: 71.3% (up from 67.4% last week) - Top regions: Lower North at 81.3%, followed by the South at 78.0% - Median price: $1.765M, a jump from the prior weekend’s $1.567M - Top sale: An 8-bedroom stunner in Strathfield sold for $12.5M 👉 Melbourne Market Movements 🏡 - Clearance rate: 63.7% (up from 60.7% but lower than 69.8% last year) - Median price: $1.05M, higher than last weekend’s $980K - Top regions: Inner East led with a 68.9% clearance rate Key Takeaways 🔑 - While auction numbers are holding steady, clearance rates are struggling to hit last year’s highs - Sydney remains a standout, with house prices climbing and buyer depth still strong - All eyes are now on Super Saturday to see if the market can absorb the influx of new listings With strong competition expected, how do you think buyers will respond next week? Will sellers hold out for top dollar, or will higher volumes create bargains? #RealEstate #AuctionResults #SydneyProperty #MelbourneMarket #MortgageBroker #PropertyInvesting #HousingMarket

Whats also striking is the number of auctions in Melbourne compared to the rest of Australia. Almost half of all capital city auctions are happening in Melbourne, where capital growth has remained relatively weak in the last 2 years. Very few auctions are happening in Perth, where capital growth has been exploding. Supply and demand showing its impact on the market.

Auction Market Trends - Week ending 24 March 2024 There were 3,519 homes taken to auction across the combined capital cities last week, overtaking the w/e 29th October 2023 (3,381) as the busiest auction week since the week prior to Easter 2022 (4,035). The previous week saw 2,834 homes taken to auction, while this time last year, 2,303 auctions were held across the combined capitals. A final combined capital city clearance rate of 65.8% was recorded last week, down from 66.7% over the previous week. This is the lowest final clearance rate since the week ending 17th December 2023 (56.6%). One year ago, 66.7% of auctions were successful. In Melbourne, 1,760 homes were taken to auction last week, compared to 1,483 over the previous week and 1,137 this time last year. This was Melbourne’s busiest auction week since the w/e 10th April 2022 (1,795). Melbourne’s final clearance rate came in at 63.0% last week, down from 66.4% over the previous week. This time last year, 69.0% of auctions were successful. There were 1,199 auctions held across Sydney last week, up from 873 over the previous week and 790 this time last year. Like Melbourne, this was Sydney’s busiest auction week since the week prior to Easter 2022 (1,490). Sydney’s final clearance rate came in at 70.4% last week, up from 66.5% over the previous week. One year ago, 67.2% of auctions were successful. Across the smaller capital cities, Adelaide recorded the highest clearance rate last week (69.3%), followed by Canberra (63.5%), Brisbane (63.2%) and Perth (50.0%). Brisbane was host to 248 auctions last week, followed by Adelaide (193), Canberra (104) and Perth (14). There was just one auction in Tasmania last week, which was withdrawn. Source: CoreLogic - Auction Market Preview #creditadvisor #sourcecredit #sourceadvisor #auctions #corelogic

Auction Market Trends - Week ending 31 March 2024 There were 901 homes taken to auction across the combined capital cities last week, the second busiest Easter for auctions on record behind Easter 2022 (926). The previous week saw 3,519 homes taken to auction, the busiest auction week since w/e 10th April 2022 (4,035). This week last year was the week prior to Easter 2023, and 2,687 auctions were held. A final combined capital city clearance rate of 64.8% was recorded last week, overtaking the previous week (65.8%) as the lowest final clearance rate since the week ending 17th December 2023 (56.6%). One year ago, 65.2% of auctions were successful. In Melbourne, 283 homes were taken to auction last week, compared to 1,760 over the previous week and 1,202 this time last year. Melbourne’s final clearance rate came in at 60.3% last week, the lowest clearance rate so far this year. The previous week recorded a clearance rate of 63.0% while this time last year, 66.7% of auctions were successful. There were 414 auctions held across Sydney last week, down from 1,199 over the previous week and 1,017 this time last year. Sydney’s final clearance rate came in at 68.8% last week, down from 70.4% over the previous week. One year ago, 66.1% of auctions were successful. Across the smaller capital cities, Adelaide recorded the highest clearance rate last week (75.9%), followed by Brisbane (60.6%) and Canberra (56.5%). Brisbane was host to 95 auctions last week, followed by Adelaide (58) and Canberra (46). There were just five auctions in Perth last week, one of which was successful, while there were no auctions in Tasmania. Source: CoreLogic - Auction Market Preview #creditadvisor #sourcecredit #sourceadvisor #auctions #corelogic

Auction Market Trends - Week ending 7 April 2024... Last week saw 1,985 homes take to auction across the combined capital cities, up from 901 over the previous week (Easter) and 652 this week last year (also Easter). The final combined capital city auction clearance rate rose to 67.0% last week, the highest clearance rate since w/e 10th March (68.0%). This is up from 64.8% over the previous week, the lowest clearance rate since 17th December 2023. One year ago, 61.5% of auctions were successful. In Melbourne, 812 homes were taken to auction last week, compared to 283 over the previous week and 108 this time last year. Melbourne’s final clearance rate came in at 62.8% last week, up from 60.3% over the previous week and 50.9% this week last year. There were 849 auctions held across Sydney last week, up from 414 over the previous week and 371 this time last year. Sydney’s final clearance rate came in at 70.4% last week, up from 68.8% over the previous week. One year ago, 64.6% of auctions were successful. Across the smaller capital cities, Adelaide recorded the highest clearance rate last week (73.3%),followed by Brisbane (67.5%) and Canberra (60.3%). Brisbane was host to 123 auctions last week, followed closely by Adelaide (122), while 69 auctions were held in Canberra. In Perth, six of the seven reported auctions were successful, while there was only one auction in Tasmania which was unsuccessful. Source: CoreLogic - Auction Market Preview #creditadvisor #sourcecredit #sourceadvisor #auctions #corelogic

Auction Report July 27th 2024 | Heat Remains in Midwinter Auction Markets 🔥🏡 Auction results were mixed at the weekend as the winter school holidays finally ended for all capitals, although listing numbers generally remained well ahead of the same time last year. Highlights: - The national weekend auction market reported a clearance rate of 63.3%, higher than the previous weekend's 58.2%, but still below last year's 71.7%. - National auction numbers rose to 1,774 listings, up from 1,651 the previous weekend, and also above the 1,518 listed over the same weekend last year. Despite the mid-winter slowdown, auction markets continue to report solid results with the spring selling season just weeks away. 🌸🏡 Sydney Auction Results - Clearance Rate: 74.2%, up from 71.3% the previous weekend 📈 - Auction Numbers: 696, up from 621 the previous weekend 🏠 - Median Price: $1,700,000, higher than the previous weekend’s $1,622,500 💲 - Top Regional Clearance Rates: Northern Beaches and Central Coast at 84.2%, followed by Inner West at 78.0% 🌊 - Lowest Clearance Rate: South West at 64.8% 🧭 - Top Sale: 7-bedroom house at 38 Myrna Rd, Strathfield for $8,901,000 🏡💰 - Most Affordable Sale: 1-bedroom unit at 4/36 Macdonald St, Lakemba for $355,000 🏢 Melbourne Auction Results - Clearance Rate: 65.0%, up from 60.8% the previous weekend 📈 - Auction Numbers: 813, higher than the 785 the previous weekend 🏠 - Median Price: $989,000, lower than the previous weekend’s $1,005,000 💲 - Top Regional Clearance Rates: Inner East at 71.6%, followed by West at 66.8% and North East at 66.3% 🌳 - Lowest Clearance Rate: Inner City at 52.9% 🏙️ - Top Sale: 4-bedroom house at 17 Beaver St, Aberfeldie for $4,900,000 🏡💰 - Most Affordable Sale: 1-bedroom unit at 7/12 Barningham St, Brunswick for $398,000 🏢 Stay tuned as we head into the spring selling season! 🏡✨ For Inquiries Contact: Ozair Turabi📲 +61 410 321 786 #ozairturabi #ljhooker #realestateaustralia #investments #realestatebusiness #LocalRealEstate #realestatememes #realestateagent #realestatetips #nsw #realestate #realestateagent #dreamhome #realestatelife #realtorsofinstagramWill

📢 Allsop lights up the market with a £50m Fireworks Night Commercial Auction We were pleased with the results of our first post budget commercial auction today. Overall it was positive and better than anticipated, but it did feel more ‘carry on as you were’ as opposed to there being a marked improvement. In other words, it remains a challenging market in which pricing is key. Thanks to the skill and judgement of our market leading team 60 commercial lots were sold today totalling £50m and reflecting a success rate of 77%. The result is broadly in line with last year and our third highest on the day total of the past 12 months. Moreover, with numerous sales having since been agreed we are confident it will improve quickly. It puts our YTD totals ahead of last year with £410m raised (£365m in 2023) and 521 lots sold (567 in 2023), reflecting an overall success rate of 88% (86% in 2023) with 118 lots (103 in 2023) achieving £1m or more. The largest lot was Lot 16 in Holborn which sold prior for in excess of £5,500,000 (7%). An office building totalling 12,439 sqft, let at £413,250 pa until 2025.  Shown below. As always, there were numerous rockets 🚀 and sparklers 🎆 including… 💥 The average lot size was £833,000 💥 16 lots sold for in excess of £1 million 💥 16 lots achieved 10% or more above their reserves 💥 70% of lots sold under the hammer saw competitive bidding 💥 60% of lots sold were located outside of London and the South East 💥 The retail sector accounted for 57% of the number of lots sold and 44% by value. 💥 Six properties let to Heron Foods Ltd on new 20 yr leases with CPI linked increases. Sold totalling £3,548,500 (av. 8.4%). 💥 Lot 15 – Barnsley. Let to Farmfoods Ltd on a new 20 year at £120,000 pa. Sold for £1.75m (6.5%) 💥 Lot 18 – Windsor. Let to Franco Manca with three flats above. Sold for £2.2m (6.7%) 💥 Lot 33 – Sittingbourne. A shopping centre with tenants inc Specsavers & Costa. Sold for £2,190,000 (21%). 💥 Lot 34 - Burton-on-Trent. An industrial estate comprising 4 units and part let to Howdens Joinery. Total rents £167,446 pa. Sold for £2,710,000 (5.8%) 💥 Lot 38 – Ebbw Vale. A warehouse let to DHL until 2028. Sold for £2,190,000 (9.3%)   Our buyers survey revealed that demand continues to be driven by experienced cash buyers, with 69% saying they had bought at auction before (65% in Sept), 75% saying they were not intending to use finance (100% in Sept) and 88% of buyers saying they would like to buy again (82% in Sept). If you would like to know more about today’s sale or are contemplating selling and would like our thoughts on what could be achieved we would be delighted to hear from you. Our last Commercial Auction of 2024 will be held on 11th December. Please follow @allsopcommercial on Instagram to keep up to date with our latest news. #Allsop #commercialrealestate #commercialpropertyinvestment #propertyauctions #retailsector #teamonfire

The auction update from CoreLogic Australia showed the number of capital city auctions remained above the 2,000 mark for the second week running, with 2,168 properties going under the hammer over the week - down 1.5% on last week (2,202) but 28% higher than at the same time last year (1,692). The preliminary clearance rate, at 72.6%, was the lowest since the Easter long weekend with the largest auction markets weighing on the early result. Sydney’s preliminary clearance rate fell from 78.1% last week to 75.9% and Melbourne’s preliminary clearance rate fell from 71.0% to 68.0%. The smaller auction markets strengthened, with Adelaide’s preliminary clearance rate rising to 91.7% (second highest result so far this year), Brisbane’s early clearance rate rose to 76.7% and Canberra broke the 70% mark (71.4%) for the first time since the week before Easter. Finalised auction clearance rates have faded a little from earlier in the year, holding roughly around the decade average of 65.1% (last week saw a finalised clearance rate of 65.9%). With the average revision between the preliminary and finalised capital city clearance rate tracking at 7.5 percentage points, we are likely to see this week’s final clearance rate once again in line with the long run average. An early view to next week shows another 2,000+ week of auctions, with around 2,100 homes currently scheduled to go under the hammer. More broadly, the trend in new capital city listings has also picked up a little with the flow of freshly advertised stock coming to market tracking almost 17% higher than at the same time last year and 12.7% above the previous five year average. Despite the rise in fresh listings, total advertised inventory is holding firm to be 4.0% lower than a year ago and 16.3% below the previous five year average. CoreLogic’s daily home value index is continuing to rise at the same pace as recorded through April with values up 0.6% over the past four weeks, although the trends remain diverse from city to city with Melbourne nudging back into negative monthly change (-0.1%) while Perth values continue to surge higher, up 1.8% over the past four weeks.

Preliminary auction results and summary from the CoreLogic Australia research team: There were 3,356 capital city homes taken to auction this week, the second busiest auction week since the week prior to Easter 2022 (4,035), behind w/e 29th October 2023 (3,381). The preliminary clearance rate came in at 72.3%, -1.7 percentage points lower than last week’s preliminary clearance rate of 74.0% (revised down to 66.7% once finalised).   Sydney saw a slight improvement in the preliminary clearance rate week-on-week, with 75.9% of auctions returning a successful result so far, up from 74.8% last week (revised to 66.5% on final numbers). With 1,176 homes taken to auction across the city, this was Sydney’s busiest auction week since the week prior to Easter 2022 (1,490).   Melbourne’s preliminary clearance rate dropped below the 70% mark for the second time this year at 69.4% (down from 72.4% last week which revised down to 66.4% on final numbers). There were 1,636 homes taken to auction across the city, the busiest week since w/e 29th October 2023 (1,725).   Next week will see auction volumes drop due to the Easter long weekend, with around 900 capital city homes currently scheduled for auction. In comparison, Easter 2023 saw 652 auctions held, while Easter 2022 saw 926 homes taken to auction across the combined capitals.