This week, the Australian real estate auction market showed slight signs of improvement. Although the number of properties up for auction decreased, the clearance rate rose significantly.
A total of 2,848 properties were auctioned this week, with 1,640 successfully sold and 408 unsold, resulting in a clearance rate of 68%. Compared to last week, there were 279 fewer properties (approximately 8.9%) listed for auction; the number of successful sales increased by 31 (a rise of approximately 1.9%); and the clearance rate increased by 9 percentage points, indicating stronger buyer demand.
Performance varied significantly across regions. Notably, the clearance rates in Lower North Shore Sydney, North West Sydney, and Northern Melbourne showed marked improvements:
- The clearance rate in Lower North Shore Sydney increased by 22 percentage points to 80%;
- The clearance rate in North West Sydney increased by 19 percentage points to 84%;
- The clearance rate in Northern Melbourne increased by 11 percentage points to 71%.
In contrast, the clearance rate in Sydney CBD dropped significantly to 39%, 27 percentage points lower than last week, reflecting weakened market demand in the area.
In terms of prices, the mainstream transaction price range this week was between $500,000 and $1 million, with 431 properties sold, representing the largest proportion. The highest transaction price this week was for a property at 53 Crows Nest Road, Waverton, selling for $10 million. The median sale price of properties decreased to $1,355,000 (a $16,750 decrease from the previous week), and the average sale price was $1,507,980 (a $23,950 decrease from the previous week), indicating a market preference for mid to lower-priced listings.
(Data is for reference only)