This week, Australia's real estate auction market continues to recover, with a slight increase in the number of listings and a slight rise in clearance rates.
A total of 1,271 properties were auctioned this week, with auction results collected for 935 properties. Of these, 667 were successfully auctioned, and 132 were passed in, resulting in a clearance rate of 71%. Compared to last week, the number of properties listed for auction increased by 9 (approximately 0.7% growth); the number of successful auctions increased by 123 (an increase of about 22.6%); and the clearance rate rose by 2 percentage points, indicating increased market activity.
Performance varied across different regions, with Sydney East, Central, and Lower North regions showing outstanding clearance rates:
- Sydney East saw a clearance rate increase of 58 percentage points, reaching 91%.
- Sydney Central's clearance rate dropped by 10 percentage points to 90% but remained high.
- Sydney Lower North maintained a stable clearance rate at 91%.
In contrast, clearance rates in Melbourne East and West declined:
- Melbourne East's clearance rate dropped by 14 percentage points to 68%.
- Brisbane South's clearance rate fell to 34%, showing a significant decrease.
In terms of prices, the mainstream transaction range this week was between $1 million and $1.5 million, with 167 transactions, accounting for the highest proportion. The highest transaction price this week was for a property at 79 PYMBLE AV, selling for $11.03 million. The median sale price of properties increased to $1,380,000, and the average sale price rose to $1,436,393. This reflects a concentration of market transaction activity in higher-priced properties.
(Data is for reference only)