This week, the overall real estate auction market in Australia remained stable. The number of available properties showed a certain increase, but the clearance rate slightly declined.
A total of 1,443 properties were up for auction this week, with auction results collected for 1,428 properties. Among them, 891 properties were successfully auctioned, while 452 properties were passed in, resulting in a clearance rate of 62%. Compared to last week, there was an increase of 194 properties (approximately 15.5%) in the number of properties listed for auction; the number of successful auctions increased by 117 properties (approximately 15.1% growth); however, the clearance rate slightly decreased by 1 percentage point, indicating a slight moderation in market activity.
The performance varied significantly across different regions. In Sydney's Upper North Shore and Sydney's Northwest, clearance rates rose by 6 percentage points and 5 percentage points, reaching 71% and 64%, respectively. However, in Sydney's Lower North Shore and Sydney's Northern Beaches, clearance rates fell by 8 percentage points and 22 percentage points, decreasing to 68% and 55%, respectively. The Melbourne Southeast region saw a notable decline in clearance rate, from last week's 68% to this week's 43%. The market situation in Brisbane's East and Brisbane's South was relatively low, with clearance rates of 30% and 19%, respectively.
In terms of prices, the mainstream transaction price range this week was between $500,000 and $1,000,000, with 237 properties sold in this range, making it the largest transaction segment. The highest transaction price this week was for the property at 32 Tindale Road, Artarmon, Sydney, with a selling price of $6.213 million. The median price for sold homes this week rose to $1,300,000, increasing by $40,000 compared to last week; the average transaction price rose to $1,509,445, indicating increased demand for higher-priced properties in the market. (Data for reference only)