The Australian real estate auction market remained stable this week, with a slight decrease in the number of listings, but the clearance rate remained unchanged.
This week, a total of 1,635 properties were up for auction, with results collected for 998 properties, of which 312 were successfully sold and 144 were passed in, resulting in a clearance rate of 31%. Compared to last week, the number of properties auctioned decreased by 162 (approximately 9.0%), and the number of successful sales decreased by 26 (approximately 7.7%), while the clearance rate remained unchanged at 31%, indicating a stable market in a state of observation.
In terms of performance in key regions, the clearance rates in Sydney Lower North Shore and Melbourne West showed significant changes:
- The clearance rate in Sydney Lower North Shore increased by 6 percentage points to 67%;
- The clearance rate in Melbourne CBD rose by 15 percentage points to 44%;
- The clearance rate in Brisbane North showed significant growth, rising from 13% to 25%.
However, in some regions like Brisbane Central and Brisbane South, clearance rates declined, with Brisbane Central's clearance rate dropping from 40% last week to 20%, and Brisbane South rising from 10% to 17%, indicating an uneven market.
In terms of prices, the mainstream transaction price range this week was between $500,000 and $1,000,000, with 221 transactions, accounting for 39.6% of the total transactions, making it the largest transaction range. The highest sale price this week was for a property at 22 Surf Road, Sydney North Curl Curl, sold for $6.60 million. The median price of sold houses fell to $1,120,000 (from $1,150,000 last week), and the average price also decreased to $1,247,143 (from $1,290,322 last week), reflecting continued high demand for mid- to low-priced properties, corresponding with a decrease in high-priced property sales. (Data is for reference only)