This week, the activity in the Australian real estate auction market slightly moderated, with the overall number of listings increasing but the clearance rate declining.
A total of 1,761 properties were up for auction this week, with auction results collected for 1,507 properties. Out of these, 1,015 properties were successfully auctioned, 282 were passed in, and the clearance rate was 67%. Compared to last week, there was an increase of 490 properties (approximately 38.6%) in the number of properties up for auction; the number of successful auctions increased by 348 (an increase of approximately 52.1%); however, the clearance rate dropped by 4 percentage points, indicating a decrease in market activity.
Looking at the performance of major regions, there was a noticeable regional differentiation in market activity. The clearance rate in Sydney Inner West fell by 12 percentage points to 76%, and in Sydney East, it dropped by 13 percentage points to 78%, both indicating a decrease in auction success rates. In contrast, the clearance rate in Melbourne North slightly rose by 1 percentage point to 71%, showing some market resilience. Brisbane East saw a rebound, with the clearance rate significantly increasing by 19 percentage points to 64%.
Notably, Sydney Lower North recorded a slight reduction in the number of auctions this week, but the clearance rate only slightly fell to 88%, indicating relative market stability in the area. The Gold Coast remained relatively subdued, with the clearance rate stable around 44%.
In terms of prices, the main transaction price range this week was between $500,000 and $1 million, with 256 properties sold, making up a significant proportion. The highest transaction price this week was for a property at 9 Surfside Avenue, which sold for $10.43 million. The median price for sold properties slightly decreased to $1,251,500, while the average price increased slightly to $1,516,951, which may suggest a concentration of sales in the mid-to-high price range in the market.
(Data is for reference only)