This week, Australia's real estate auction market remained relatively stable. Although the number of listings slightly increased compared to last week, the clearance rate declined.
This week, a total of 2,997 properties were scheduled for auction, with results collected for 2,423 of them. Among these, 1,600 properties were successfully auctioned, and 449 were passed in, resulting in a clearance rate of 66%. Compared to last week, the number of auctioned properties increased by 243 (approximately 8.8%); the number of successful auctions rose by 36 (about 2.3%); however, the clearance rate dropped by 2 percentage points, indicating a slight weakening in market activity.
Among major city areas, performance varied:
- The clearance rate in Sydney Northern Beaches significantly increased to 76%, up 12 percentage points from last week.
- Melbourne CBD's clearance rate fell to 60%, sliding 13 percentage points, indicating a notable market cool-off.
- Brisbane Central area performed well with a clearance rate of 78%, though it decreased by 12 percentage points from last week.
In terms of pricing, the mainstream transaction range this week was between $500,000 and $1,000,000, with 404 properties sold in this range, accounting for the largest share.
The highest transaction price this week was for a property at 58-60 Carrington Road, Wahroonga, which sold for $18.5 million.
The median sale price of houses this week rose to $1,370,000, with the average sale price increasing to $1,602,175, reflecting a growing demand for mid to high-priced properties compared to last week. (Data is for reference only.)