This week, Australia's real estate auction market rebounded with a significant increase in the number of listings, although the clearance rate remained stable.
A total of 2016 properties were up for auction this week, with auction results collected for 1976 properties. Of these, 1217 properties were successfully sold, and 680 properties were passed in, maintaining a clearance rate of 62%. Compared to last week, the number of properties for auction increased by 573 (approximately 39.7%); the number of successful sales increased by 326 (approximately 36.6%). Despite the increase in listings, the unchanged clearance rate indicates synchronized growth in market demand and supply.
Market performance varied across major regions. The clearance rate in Sydney's central area rose significantly to 66%, up by 9 percentage points from last week. In contrast, while the number of auctions increased in Sydney's eastern suburbs, the clearance rate dropped to 69%, down by 3 percentage points. In the Inner West of Sydney, the clearance rate fell to 66%, a decrease of 9 percentage points. Additionally, the clearance rates in Melbourne's CBD and western suburbs dropped to 46% and 41%, respectively, indicating weakened market activity in these areas. In Brisbane, market activity strengthened in multiple regions, with clearance rates rising significantly to 65% in the East and 75% in the North.
In terms of prices, the mainstream transaction range this week was between $500,000 and $1,000,000, with 370 sales, making up the largest proportion. The highest sale price this week was for a property located at 3 KOOTINGAL ST, which sold for $9.7 million. The median sale price of homes this week decreased to $1,113,000, and the average sale price slightly decreased to $1,506,147, indicating that lower-priced properties are more active in the market, with an overall trend towards mid-range and lower-priced property transactions. (Data is for reference only.)