This week, Australia's real estate auction market has heated up, with increases in both the number of listings and clearance rates.
A total of 1,394 listings went to auction this week, with results collected for 1,371 of them. Of these, 961 were successfully auctioned, while 273 were passed in, resulting in a clearance rate of 70%. Compared to last week, the number of listings increased by 265 (about 23.5%), successful auctions grew by 227 (approximately 30.9%), and the clearance rate rose by 4 percentage points, indicating a steady increase in market activity.
Performance varied across regions, with significant growth in clearance rates in Sydney Upper North Shore and Sydney Lower North Shore:
- Sydney Upper North Shore clearance rate increased by 12 percentage points to 80%.
- Sydney Lower North Shore clearance rate rose by 12 percentage points to 91%.
Additionally, Sydney Northern Beaches and Sydney Northwest also performed well, with clearance rates rising by 10 percentage points and 8 percentage points, respectively.
Melbourne East’s clearance rate also improved, rising to 74%. In contrast, Brisbane's performance was mixed, with the Central region's clearance rate dropping to 44%, a decrease of 20 percentage points from last week.
In terms of prices, the mainstream transaction range this week was between $500,000 and $1,000,000, with 268 properties sold, the largest proportion.
The highest sale price this week was for a property at 8 SOUTHERN CROSS DR, which sold for $18.5 million.
The median sale price this week rose to $1,300,000, and the average sale price increased to $1,581,439, reflecting a higher proportion of high-priced property sales and a market trend towards mid-to-high-end properties. (Data is for reference only.)