July 19, 2024

Vagmare.com

The Intersection of Information and Insight

This weekend’s auction results – Clearance rates around Australia

3 min read

Key takeaways

The penultimate auction weekend for 2023 has produced generally lower clearance rates in most capitals from another big end of year day of Saturday listings.

Sydney had the strongest auction clearance rate of 66.9%.

Auction clearance results for the other capitals were:- Melbourne – 61.5%; Adelaide – 63.8%; Brisbane – 51.4% and Canberra – 64.1%.

The national auction market reported a clearance rate of 61.5% at the weekend which was marginally lower than the 62.4% reported over the previous weekend – and also lower than the 64.4% recorded over the same weekend last year.

National auction numbers were again slightly higher at the weekend with 2260 listings compared to the previous weekend’s 2234, but remained well above the 2046 listed over the same weekend last year.

The penultimate auction weekend for 2023 has produced generally lower clearance rates in most capitals from another big end of year day of Saturday listings.

Auction results around Australia, Saturday December 9th 2023:

Capital City This Week Last Weekend
Auctions Rate Auctions Rate
Sydney 844 66.9% 859 69.6%
Melbourne 1117 61.5% 1071 65.2%
Brisbane 98 51.4% 91 53.1%
Adelaide 114 63.8% 133 70.3%
Canberra 87 64.1% 80 54.0%

The national auction market reported a clearance rate of 61.5% at the weekend which was marginally lower than the 62.4% reported over the previous weekend – and also lower than the 64.4% recorded over the same weekend last year.

National Auction Clearance Results Trend

National auction numbers were again slightly higher at the weekend with 2260 listings compared to the previous weekend’s 2234, but remained well above the 2046 listed over the same weekend last year.

National Auction Listing Trend

Although auction market clearance rates were lower overall at the weekend from another big Saturday of auctions, results over December continue to provide some encouragement to most sellers.

Sydney auction clearance results

Sydney Clearance Rates a Little Lower from Still High Listings

The Sydney auction market again reported a slightly lower clearance rate at the weekend from yet another big day of end-of-year auctions.

Sydney Auction Clearance Rate

Sydney recorded a clearance rate of 66.9% at the weekend which was lower than the 69.6% recorded over the previous weekend but still higher than the 65.2% recorded over the same weekend last year.

Saturday auction numbers were high again at the weekend with 844 listed versus the 859 auctioned over the previous Saturday, and again well above the 726 listed over the same weekend last year.

Sydney recorded a median price of $1,600,000 for houses sold at auction at the weekend which was marginally lower than the $1,625,000 recorded over the previous weekend but 16.4% higher than the $1,375,000 recorded over the same weekend last year.

Canterbury Bankstown recorded the highest regional clearance rate at the weekend at 74.5% followed by the South at 69.7% and the Upper North Shore at 69.0%.

The South West again reported the lowest clearance rate at 47.4%.

The clearance rate for houses was 66.6% with units again higher this weekend at 68.3%.

Sydney Regional Auction Clearance Rate

The top reported Sydney auction sale at the weekend was a 4-bedroom house at 28 Lennox St Bellevue Hill that sold for $7,300,000.

View top selling home here 28 Lennox St Bellevue Hill

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