Key Takeaways:
- The school holiday period continues, influencing mixed auction results across capitals, although listings remain elevated compared to last year.
- Adelaide led with the strongest auction clearance rate at 78.5%.
- Melbourne, Brisbane, Sydney, and Canberra followed with clearance rates of 69.4%, 65.6%, 66.6%, and 74.5%, respectively.
- The national weekend auction market reported a clearance rate of 70.9%, slightly lower than the previous year’s 71.1%.
- National auction numbers were lower compared to the previous weekend but significantly higher than the same period last year.
National Auction Clearance Rates:
| Capital City | This Saturday | Last Saturday | ||
|---|---|---|---|---|
| Auctions | Rate | Auctions | Rate | |
| Sydney | 528 | 66.6% | 750 | 71.8% |
| Melbourne | 801 | 69.4% | 788 | 65.7% |
| Brisbane | 94 | 65.6% | 67 | 61.3% |
| Adelaide | 103 | 78.5% | 52 | 89.1% |
| Canberra | 33 | 74.5% | 62 | 59.4% |
Sydney Auction Clearance Results: Lower School Holiday Auction Results
Sydney’s clearance rate dipped to 66.6% over the weekend, reflecting the impact of school holidays.
Median house price stood at $1,631,000, lower than the previous weekend but 5.2% higher than the same weekend last year.
The City and East recorded the highest regional clearance rate at 77.2%, while the South West reported the lowest at 54.7%.
The top reported auction sale was a 3-bedroom unit at 6/10 Lincoln Cr Woolloomooloo, sold for $6,537,500, while the most affordable home was a 2-bedroom unit at 4/13 Kingsland Rd S Bexley, sold for $463,000.
Melbourne Auction Clearance Results: Higher Melbourne Results
Melbourne witnessed a higher clearance rate of 69.4% over the weekend, with listings on the rise.
Median house price reached $1,025,000, surpassing the previous weekend and showing a 3.0% increase compared to the same period last year.
Melbourne’s North East reported the top regional clearance rate at 75.1%, while the Inner City recorded the lowest at 57.6%.
The top reported auction sale was a 5-bedroom house at 25 Winston St Glen Waverley, sold for $4,010,000, and the most affordable home was a 1-bedroom unit at 4/202 Pascoe Vale Rd Essendon, sold for $290,000. (Table here)
Top Brisbane, Adelaide, and Canberra Auction Results
For personalized insights and expert guidance on navigating the dynamic property market, contact us at Vantage Financial. Call 1800 595 500 or email info@vantagefinancial.com.au. Visit our website vantagefinancial.com.au to learn more.
