This week, the Australian real estate auction market showed a slight cooldown, with a decrease in the number of listings, but the clearance rate remained stable.
A total of 1,919 properties were up for auction this week, with auction results collected for 1,892 properties. Among them, 1,110 were successfully sold, and 552 were withdrawn from the market, resulting in a clearance rate of 59%. Compared to last week, the number of properties up for auction decreased by 201 (about 9.5%); successful auctions decreased by 130 (a drop of about 10.5%); however, the clearance rate remained unchanged, indicating market activity was similar to last week.
There were notable differences in performance across regions, with significant growth in clearance rates in Sydney East, Melbourne West, and Brisbane East:
- Sydney East saw a substantial increase of 19 percentage points in the clearance rate, reaching 76%;
- Melbourne West's clearance rate increased by 10 percentage points, reaching 68%;
- Brisbane East's clearance rate increased by 17 percentage points, reaching 67%.
However, declines were observed in areas like Sydney Upper North Shore, Sydney Northern Beaches, and Brisbane West:
- Sydney Upper North Shore's clearance rate dropped by 10 percentage points to 65%;
- Sydney Northern Beaches' clearance rate decreased by 4 percentage points to 68%;
- Brisbane West's clearance rate saw a significant decrease of 21 percentage points to 22%.
In terms of price, the most active segment this week was the $500,000 - $1,000,000 range, with a total of 313 properties sold, continuing to dominate the market.
The highest transaction price this week was for the property at 48 Forsyth Street, Kingsford, sold for $8.21 million.
The median price of houses sold this week slightly decreased to $1,100,000, while the average transaction price rose slightly to $1,424,509, indicating a market shift towards higher-priced properties. (Data for reference only)