Half past the Spring Festival, the Australian auction market also ushered in 2018 the first Super Saturday.

According to CoreLogic figures, a total of 3,017 real estate auctions are expected this week (February 24) in Australia, up from 1,753 units on February 17, a big improvement from last week’s. The state capital cities auction numbers are: Sydney 1120, Melbourne 1485, Brisbane 151, Adelaide 105, Perth 35, Canberra 111, Tasmania 10 sets. In quantitative terms, market activity is rapidly recovering.

Sydney clearance rate back to 70%

Let us look at the clearance rate and mid-price chart for the last eight weeks. In terms of median price, 1.3 million on December 9 is now the highest in eight weeks and the remaining time stands at between 1.2-1.3 million. The last auction last year The minimum of 1.07 million December 16 is the beginning of 2018 and the median price will return to around 1.2 million, which is a good start. To February 17, the median price rose to 1.277 million, outstanding performance.

Clear rate of performance is good, the last eight weeks have slowly pick up the trend, and gradually get rid of the first six prefix, standing 70% of the position. The 70% last time, or in the October 21, 2017, so the clearance rate of progress is gratifying.

In terms of the number of auctions in Sydney, the first five weeks kept the same as the mid-level movements, with a clear decline in the last three weeks due to the unfavorable market conditions and approaching the end of the year, with many auctions canceled at the last minute. After 2018, the auction volume also gradually recovered, almost doubled on Feb. 24, Feb. 17, which greatly enhanced market confidence.

Compared to the same period of last year, Sydney’s clearance rate this year has been worse than last year. Last year, the clearance rate basically exceeded 75, most of this year below 70, or even twice below 60%. Even though the clearance rate has performed well in the recent three weeks, the gap still exists when compared with the clearance rate of over 80% in the same period of last year.

Median price, the Sydney auction median price in the last eight weeks compared with the same period last year, five weeks slightly higher than last year

Melbourne clearance rate bottomed out

Let us look again at Melbourne, following the drop in the clearance rate, with a rebound in the new year. The highest for the last eight weeks is 77% on November 4, 2017 and 66% on November 25 and December 09, at the bottom. In the first week of 2018, a value of 72% was recorded. On February 17, it dropped slightly to 69%.

The auction volume, December 9 the highest level of 1511 sets for the recent eight weeks, up 50% above normal. And November 4, only 182 sets of properties listed for auction. It started to rise gradually from November 11, rising to 1443 on November 25, 1368 on December 2 and 1511 on December 9, with 1320 on December 16 of last year. Into the new year, February 10, 541 sets of startling relatively cold. February 17, 770 sets, February 24, is expected to 1485 sets, a huge increase.

Compared with the same period of last year, Melbourne’s clearance rate was also sluggish and has been below the data of the same period of last year.

Melbourne’s median price only won a week in eight weeks compared with a year ago.

The remaining three cities

In addition February 17 auction, Brisbane 92 sets, Adelaide listed 50 sets of auction, Canberra listed 59 sets. Clearance rate, Brisbane 42%, Adelaide 69%, Canberra 57%.

The latest Australian house price growth index (20180223)

Let’s take a look at the growth rates of house prices in major cities in Australia. The index is calculated in a unified way regardless of the market of detached houses and apartments. Among them, in the past year ended February 23, 2018, Sydney performed poorly, down 0.07. While Melbourne increased 7.18%, Brisbane 2.15%, Adelaide 2.25%, Perth bottom, down 2.8%.

In the most recent quarter (three months), Sydney dropped 2.54 and Melbourne dropped 0.31%.

If the detached houses and apartments are compared separately, we can refer to Corelogic latest monthly data of the month.

As of February 1, Hobart House gained the top spot by 13.19%. Melbourne is followed by 8%. Canberra was the third with a 5.38% increase. Sydney recorded only a 0.11% increase.

In terms of condominiums, Hobart Melbourne topped the previous year’s growth over the past year, Sydney finished third with 3.97 and Sydney condos grew more each year than independent homes. And Darwin’s worst performance, a year negative growth 7.62 apartment.