This week, Australia's real estate auction market has slightly heated up, with an increase in listings and a rise in clearance rates.
A total of 1,660 properties were auctioned this week, with auction results collected for 980 properties, including 323 successful auctions and 138 passed in, leading to a clearance rate of 33%. Compared to last week, the number of properties auctioned increased by 251 (approximately 17.8%); the number of successful auctions rose by 82 (approximately 34.0% increase); and the clearance rate improved by 4 percentage points, indicating an increased market activity.
The performance in various regions showed significant changes in clearance rates in some areas of Sydney and Melbourne:
- The clearance rate in Sydney center district dropped to 50% this week, decreasing 17 percentage points from last week's 67%.
- Sydney East district's clearance rate rose from 53% last week to 60%.
- Sydney Lower North district saw a substantial increase in clearance rate, reaching 67%, a 19 percentage point rise from last week's 48%.
- Sydney Northwest district's clearance rate significantly increased, from 24% last week to 43%.
- Melbourne Central Business District's clearance rate rose to 41%, an 8 percentage point increase from last week.
- Market activity declined in Brisbane East and South districts, with clearance rates dropping to 14% and 10%, respectively.
In terms of prices, the mainstream transaction price range this week was between $1 million and $1.5 million, with 179 transactions, accounting for the largest share.
The highest transaction price this week was for a property at 304 Jersey Road, Woollahra, with a sale price of $15 million.
The median sale price of houses this week slightly increased to $1,150,000 (last week: $1,120,000), while the average sale price slightly decreased to $1,270,491 (last week: $1,311,968), indicating a shift in market interest towards mid to lower priced properties. (Data for reference only)