This week, the performance of the Australian real estate auction market was somewhat subdued. Although the number of listings slightly increased, the clearance rate declined.
A total of 1,879 properties went up for auction this week, with auction results collected for 1,174 properties. Among them, 345 were successfully sold, 181 were withdrawn, and the clearance rate was 29%. Compared to last week, the number of auctioned properties increased by 219 (approximately 13.2%); the number of successful auctions rose by 22 (an increase of about 6.8%); however, the clearance rate fell by 4 percentage points, indicating a market that appears slightly sluggish.
The performance varied significantly across different regions, with the most notable decline in clearance rates in the Sydney Central, Sydney Upper North Shore, and Melbourne Central Business District:
- The clearance rate in Sydney Central sharply decreased by 32 percentage points to 18%;
- In Sydney Upper North Shore, the clearance rate dropped by 13 percentage points to 42%;
- Melbourne Central Business District's clearance rate fell by 21 percentage points to 20%.
In contrast, Sydney Eastern Suburbs and Northern Beaches performed relatively well:
- The clearance rate in Sydney's Eastern Suburbs increased by 3 percentage points to 63%;
- Northern Beaches saw an increase of 16 percentage points, achieving a clearance rate of 62%.
In terms of price, the mainstream transaction range this week was between $500,000 and $1,000,000, with 204 properties sold within this range, making it the largest segment.
The highest transaction price this week was for a property at 3 Mundarrah Street, Clovelly, with a sales price of $8.75 million.
The median price of properties sold this week rose to $1,338,000, with the average transaction price increasing to $1,523,680, indicating that the market is concentrated on higher-priced properties. (Data is for reference only)