This week, the Australian real estate auction market showed sluggish performance, with a slight decrease in the number of listings and a decline in clearance rates.
A total of 1,508 properties were auctioned this week, with auction results collected for 885 properties. Among them, 257 properties were successfully auctioned, while 145 were passed in, resulting in a clearance rate of only 29%. Compared to last week, the number of properties auctioned decreased by 65 (approximately 4.1%); the number of successful auctions decreased by 41 (a drop of approximately 13.8%); and the clearance rate dropped by 3 percentage points, indicating a decrease in market activity.
The performance varied significantly across different regions, with noticeable changes in clearance rates in some areas:
The clearance rate in Sydney East dropped by 13 percentage points to 48%;
The clearance rate in Melbourne CBD decreased by 7 percentage points to 38%;
The clearance rate in Melbourne West sharply dropped by 32 percentage points to 12%;
The clearance rate in Brisbane CBD significantly increased by 42 percentage points to 67%.
In terms of prices, the mainstream transaction range this week was between $500,000 and $1,000,000, with 208 transactions, making up the largest share.
The highest transaction price for the week was a property located at 8 MONA ST, which sold for $6.225 million.
The median sale price for the houses that sold this week fell to $1,047,500, and the average sale price decreased to $1,319,757. This reflects an increased demand for lower-priced properties, with a decrease in the proportion of mid- to high-priced property transactions. (Data for reference only)