This week, Australia's real estate auction market was somewhat sluggish, with an increase in listings but a slight decrease in the clearance rate.
A total of 2,457 properties were up for auction, and results were collected for 1,693 properties. Among them, 495 were successfully auctioned, and 273 were passed in, with the clearance rate dropping to 29%. Compared to the previous week, the number of properties for auction increased by 361 (approximately 17.2%); successful auctions increased by 73 (approximately 17.3%); however, the clearance rate fell by 3 percentage points, indicating a certain weakness in market activity.
Performance varied across regions, with noticeable improvements in the clearance rates of Sydney’s Central Region and Sydney’s Inner West:
- The clearance rate in the Sydney Central Region significantly increased by 17 percentage points, reaching 55%.
- The clearance rate in Sydney Inner West grew by 8 percentage points, reaching 49%.
Meanwhile, significant declines in clearance rates were observed in Sydney’s Lower North Shore and Melbourne’s Southeast Region:
- The clearance rate in Sydney's Lower North Shore decreased by 22 percentage points to 53%.
- Melbourne’s Southeast Region saw a sharp decline in clearance rate to 10%, dropping by 17 percentage points.
In terms of pricing, this week's mainstream transaction range was between $500,000 and $1,000,000, with 316 properties sold, representing the largest proportion.
The highest transaction price this week was for a property at 35 Wymston Parade in Wareemba, sold for $7.06 million.
This week, the median price for the sold properties increased to $1,200,000, and the average transaction price rose to $1,503,101, reflecting an increase in the proportion of high-priced property transactions, with market activity concentrated on mid to high-end properties. (Data is for reference only.)