This week, the Australian real estate auction market remained stable, with a slight decrease in the number of listings but a slight increase in the clearance rate compared to last week.
This week, there were a total of 1,345 properties listed for auction, with auction results collected for 832 properties. Among these, 289 properties were successfully auctioned, while 118 properties were passed in, resulting in a clearance rate of 35%. Compared to last week, the number of properties listed for auction decreased by 1,236 (approximately 47.9%); the number of successful auctions decreased by 219 (approximately 43.1%); and the clearance rate increased by 4 percentage points, indicating that the market maintained a certain degree of activity.
The performance varied across different regions, with notable growth in clearance rates in Sydney Upper North Shore, Sydney Northern Beaches, and Sydney Northwest:
The clearance rate in Sydney Upper North Shore increased by 13 percentage points to 47%;
The clearance rate in Sydney Northern Beaches increased by 18 percentage points to 67%;
The clearance rate in Sydney Northwest increased by 18 percentage points to 41%.
Sydney Eastern Suburbs, Sydney Inner West, and Melbourne Southeast also saw varying degrees of improvement in clearance rates, with Sydney Eastern Suburbs reaching 59%, reflecting relatively strong market demand in these areas.
In terms of prices, the mainstream transaction range this week was between $500,000 and $1,000,000, with 140 transactions, making up the largest share.
The highest transaction price this week was for a property at 60-64 Broughton Road, Strathfield, which sold for $6,800,000.
The median sale price for homes this week decreased to $1,270,000, while the average sale price fell to $1,339,476, indicating a slight increase in demand for mid-to-low-priced properties and a relative decrease in demand for high-priced properties. (Data for reference only)