Domain put Sydney clearance rate at just 48 percent, i.e. a buyer's market
Domain's revised results for the weekend of April 28 and 29 put the Sydney clearance rate at 48.1 per cent.
It was a significant occurrence, the first time below 50 percent on an ordinary auction weekend for many years.
| Last week revised tally | Saturday 28 April 2018 |
| City | Sydney |
| Clearance rate | 48.1% |
| Number listed | 673 |
| Number reported auctions | 502 |
| Number sold | 301 |
| Number w/drawn | 124 |
| Total value sold (million) | $261.7 |
| Auction median houses | $1,307,000 |
| Auction median units | $905,000 |
Cooley Auctions' auctioneer Damien Cooley recently suggested a generally accepted auction clearance rate for a healthy market, where both sellers and buyers have equal bargaining positions, was between 50 per cent and 60 per cent.
The original Saturday night had the clearance rate at 58.1 percent.
| City | Sydney |
| Clearance rate | 58.1% |
| Number listed | 670 |
| Number reported auctions | 378 |
| Number sold | 264 |
| Number w/drawn | 76 |
| Total value sold (million) | $224.1 |
| Auction median houses | $1.3 milion |
| Auction median units | $905,000 |
"Buyers certainly feel like the tides have changed ... but we won't call them buyers' markets unless clearance rates are less than 50 per cent.""Things are changing and the market is not as good as it was, but it's a very fair market," Cooley Auctions' auctioneer Damien Cooley told Fairfax Media recently.
