This week, Australia's real estate auction market remained active, with a significant increase in the number of listings while the clearance rate remained stable.
A total of 827 properties were scheduled for auction this week, with results collected from 820 auctions. Of these, 486 were successfully sold, 239 were passed in, resulting in a clearance rate of 59%. Compared to last week, the number of properties listed for auction increased by 496 (approximately a 149.8% increase), and the number of successful auctions grew by 291 (approximately a 149.2% increase). The clearance rate remained at 59%, unchanged from last week.
Among the major regions, Sydney Inner West and Lower North Shore performed exceptionally well, with clearance rates reaching 89% and 87%, respectively, significantly higher than other regions. In contrast, the Gold Coast's clearance rate dropped significantly to 30%, down by 9 percentage points from last week.
Notably, Melbourne's multiple regions, such as the East, North, and other areas, showed relatively stable clearance rates, with Melbourne East maintaining 68% and the North slightly declining to 64%. In Brisbane, most regions did not achieve high clearance rates, particularly the North and West areas, only reaching 35% and 32%, respectively.
In terms of price, the majority of transactions this week were concentrated in the $500,000 to $1,000,000 range, with 188 transactions, making it the largest proportion. The highest transaction price this week was for a property at 96 Regatta Parade, Southport, sold for $5.3 million. The median price rose to $968,500, an increase of $58,500 from last week, while the average price increased to $1,137,405, indicating a stronger preference for mid to high-end properties in the market. (Data for reference only)