This week, Australia's real estate auction market showed a slight cooling, with both the number of listings and the clearance rate experiencing a mild decline.
A total of 1,841 properties participated in auctions this week, and results were collected for 1,817 properties. Among them, 1,190 properties were successfully auctioned, 402 passed in, resulting in a clearance rate of 65%. Compared to last week, the number of auctioned properties decreased by 123 (approximately 6.3%); the number of successful auctions decreased by 83 (a decrease of about 6.5%); and the clearance rate dropped by 1 percentage point, indicating a slight weakening in market activity.
The performance varied across regions, with a significant decline observed in Sydney Central and Brisbane East, while Melbourne CBD and Melbourne West saw notable improvements in clearance rates:
- Sydney Central's clearance rate dropped sharply to 52%, a decrease of 33 percentage points from last week.
- Brisbane East's clearance rate fell to 32%, down by 31 percentage points from last week.
- Melbourne CBD's clearance rate rose to 67%, an increase of 11 percentage points from last week.
- Melbourne West's clearance rate improved to 71%, up by 18 percentage points from last week.
In terms of price, transactions this week were mainly concentrated in the $500,000 to $1,000,000 range, with 303 properties sold, making it the most active price segment. The highest selling price of the week was for a property at 2 Wave Street, Mermaid Beach, which fetched $11.6 million. The median price of sold homes increased to $1,300,000, and the average selling price also rose to $1,491,123, indicating an increase in transactions of higher-priced properties. (Data is for reference only)