This week, Australia's real estate auction market displayed a positive growth trend overall, with significant increases in the number of listings and clearance rates.
A total of 2,321 properties were up for auction this week, and we collected auction results for 1,469 properties, with 893 properties successfully sold, 298 passed in, and a clearance rate of 61%. Compared to last week, the number of properties for auction increased by 1,598 (an increase of approximately 221%); the number of successful auctions increased by 669 properties (an increase of approximately 299%); and the clearance rate improved by 12 percentage points, indicating significantly enhanced market activity.
Among the performances of various regions, the auction results in several areas of Sydney and Melbourne were particularly notable. Sydney Northern Beaches saw its clearance rate soar to 67% this week, an increase of 49 percentage points from last week; Sydney Other Regions had a clearance rate of 65%, up 22 percentage points from last week. Melbourne Northern Suburbs also shone, with a clearance rate of 67%, an increase of 12 percentage points from last week. Meanwhile, Brisbane Eastern Suburbs performed poorly, with a clearance rate of only 11% this week, down 22 percentage points from last week.
In terms of prices, the mainstream transaction price range this week was between $500,000 and $1,000,000, with 289 properties sold, accounting for the largest proportion. The highest transaction price this week was for Unit 307/180-186 CAMPBELL PARADE, which sold for $8.7M. The median sale price increased to $1,380,000, and the average sale price also rose to $1,490,591, indicating a rising demand for high-priced properties and an overall concentration on higher-end properties. (Data is for reference only.)