This week, the Australian real estate auction market continues to face pressure. Compared to last week, the number of listings has increased, but the clearance rate has declined.
A total of 2,506 properties were listed for auction this week, and results were collected for 1,632 of them. Among these, 477 properties were successfully auctioned, 315 went unsold, and the clearance rate dropped to 29%. Compared to last week, there were 304 more properties (an increase of about 13.8%) listed for auction; the number of successful auctions increased by 53 (an increase of approximately 12.5%). However, the clearance rate fell by four percentage points, indicating a decrease in market activity.
Performance varied across different areas, with some signs of stability or improvement in the clearance rates in the Sydney East, North Beaches, and Melbourne East:
- Sydney East's clearance rate increased by six percentage points to 61%;
- Sydney North Beaches' clearance rate also rose by six percentage points to 64%;
- Melbourne East's clearance rate significantly increased by eight percentage points, rising to 27%.
However, Sydney Lower North's clearance rate significantly dropped to 36%, a decrease of 32 percentage points from last week. In Brisbane West and Brisbane South, the clearance rates fell to 5% and 11%, respectively, indicating apparent market weakness.
In terms of prices, the mainstream transaction range this week remained between $500,000 to $1 million, with 270 properties sold, making up the largest proportion. The highest transaction price this week was for a property at 13 Victoria St, which sold for $16.25 million. The median sale price for homes rose to $1,383,750, and the average sale price increased to $1,479,104, reflecting a higher proportion of transactions in high-priced properties and a market inclination toward high-end properties. (Data for reference only)