This week, the Australian real estate auction market showed a certain degree of adjustment, with the number of listings decreasing and the clearance rate slightly declining.
A total of 1,944 properties were up for auction this week, with auction results collected for 1,396 properties. Of these, 868 properties were successfully auctioned, 279 passed in, resulting in a clearance rate of 62%. Compared to last week, the number of properties on auction decreased by 1,274 (approximately a 39.6% decrease); the number of successful auctions decreased by 759 (approximately a 46.6% decrease); while the clearance rate dropped by 3 percentage points, indicating a slight cooling in market activity.
Among the major regions, Sydney's clearance rates showed varied changes. The clearance rate in the Sydney central region dropped significantly, falling from 74% last week to 53% this week, a decrease of 21 percentage points. The Melbourne East region saw a decline from 63% last week to 59% this week, while the Brisbane North region experienced a significant increase in its clearance rate, rising from 59% last week to 80% this week, an increase of 21 percentage points. The Gold Coast underperformed, with this week's clearance rate at only 33%, down 12 percentage points from last week.
In terms of prices, the mainstream transaction range this week was between $500,000 and $1,000,000, with 171 transactions in this range representing the most significant proportion. This week's highest property transaction was located at 84 Queens Park Rd, reaching a sale price of $14.5 million. The median price rose to $1,455,000, while the average transaction price slightly decreased to $1,500,730, reflecting continued demand for mid-to-high-priced properties, but an overall decline in average transaction prices.
(Data is for reference only)