This week, the Australian real estate auction market saw increased activity, with a significant rise in the number of listings and a slight improvement in the clearance rate.
A total of 1,898 properties were up for auction this week, with results collected for 1,862 properties. Among them, 1,132 were successfully auctioned, 653 passed in, and the clearance rate reached 61%. Compared to last week, the number of properties auctioned increased by 814 (approximately a 75.1% rise); the number of successful auctions grew by 498 (a 78.5% increase); and the clearance rate improved by 2 percentage points, indicating enhanced market activity.
There were noticeable differences in performance across regions, with several areas in Sydney maintaining high clearance rates, while parts of Melbourne and Brisbane experienced varying fluctuations:
- The clearance rate in Sydney's central region dropped by 18 percentage points to 72%.
- Compared to last week, the clearance rate in Sydney's eastern region increased by 4 percentage points to 71%.
- Other areas in Sydney remained stable, particularly the Northern Beaches and Inner West, showing strong market demand in both volume and clearance rates.
- The clearance rate in Melbourne's northern region slightly increased by 1 percentage point to 61%, while the western region saw a decline of 12 percentage points, falling to 47%.
- Clearance rates across Brisbane's regions were highly volatile. The central area experienced a significant rebound, with the clearance rate rising from 0% to 73%; the eastern area of Brisbane also increased substantially to 57%.
In terms of prices, the mainstream transaction range this week was between $500,000 and $1 million, with a total of 344 transactions, making it the primary price bracket in the market. The highest property sale this week was at 18A Wybalena Road, Hunter Hill, with a selling price of $9.301 million. The median price of sold homes slightly increased to $1,113,500, and the average sale price rose to $1,428,318, reflecting a market trend towards higher-priced properties and strong demand for mid-to-high-end properties. (Data is for reference only.)