COVID lockdowns in southern markets have done nothing to dampen enthusiasm for property or stem solid price rises. Most capital cities recorded strong auction clearance rates last week, with Adelaide leading the pack with 85% of auction properties selling under the hammer.

Sydney’s preliminary auction clearance rate hit 83% last week with almost two-thirds of properties sold before auction day. Although Canberra went into lockdown ahead of the weekend, its auction clearance rate was still 82%, followed by Brisbane with a clearance rate of 75% and Melbourne with a slightly subdued 63%, after a third of planned auctions were withdrawn.

Solid prices were achieved across the weekend including a whole floor penthouse with Sydney Harbour views in Manly which sold for $6.6 million. In Victoria a five-bedroom home in Brighton sold for $9.7 million, after just two inspections, achieving a suburb record of $19,000 per square metre.

Adelaide had a median sale price of $810,000 for homes which went to auction last weekend, while in Brisbane it was $915,000.