Auction Clearance This Week 03 SEP 2023
In the dynamic world of Australian real estate, where fortunes are made and dreams are realized, auction clearance rates this week were the barometer of market health. The week ending 03 Sep 2023 saw auction houses bustling with activity across Australia’s major cities. The intriguing data and trends behind these auctions, shedding light on the performance of different cities and what it means for both buyers and sellers.
Combined Capitals: A Comprehensive View
When we combine the numbers from all these major cities, a fascinating panorama emerges. A total of 2291 auctions graced the real estate landscape during this week. 1810 auction results narrate the stories of bids, offers, and property transformations. The collective clearance rate of 71.2% indicates that 1289 properties have embarked on new journeys, while 521 lots continue their pursuit of the perfect match.
Sydney: A Market in Motion
Sydney, known for its vibrant property market, hosted a staggering 933 auctions during this eventful week. Of these, 757 auctions resulted in outcomes that shaped the property dreams of many. With 73.8% clearance rate, Sydney’s real estate landscape saw 559 successful auction sales, with 198 properties still waiting for their new owners.
Melbourne: A Tale of Two Hundred Auctions
Melbourne, another Australian real estate powerhouse, welcomed 991 auctions into the fold. The 800 auction results unveiled the intricate dance of bids and offers. The clearance rate of 69.3% tells us that 554 properties found their way into new hands, while 246 lots remained part of Melbourne’s ever-evolving real estate narrative.
Brisbane: Riding the Auction Wave
In the Sunshine State’s capital, Brisbane, 159 auctions set the stage for property transformations. 117 auction results offer insights into the city’s property dynamics. With a clearance rate of 66.7%, 78 properties embraced new beginnings, while 39 lots continued their journey, perhaps awaiting the perfect match.
Perth: Auction Clearance Potential Unveiled
Out in the west, Perth witnessed 8 auctions during this week. While the numbers may be smaller, they carry their significance. Of these, 5 auction results emerged, revealing the aspirations of sellers and buyers. With a clearance rate of 40%, 2 properties have found their new owners, while 3 lots are still in pursuit of their ideal match.
Canberra: A Capital of Auctions
The nation’s capital, Canberra, hosted 95 auctions, each with its unique story to tell. 66 auction results capture the essence of these events. A clearance rate of 63.6% indicates that 42 properties have successfully transitioned to new ownership, while 24 lots remain as the canvas for future property dreams.
Adelaide: Shaping Property Stories
Adelaide, a city known for its charm, held 103 auctions, where hopes and dreams were on the line. Of these, 64 auction results paint a picture of property market dynamics. With an impressive clearance rate of 82.8%, 53 properties now have new stories to tell, while 11 lots await their next chapter. This is the third week in a row for Adelaide to present the best results among all capital cities. Though the number of auctions performed are less compared to the other big cities, but the percentage of auction clearance is significantly higher.
Tasmania: A Small but Significant Presence
In the island state of Tasmania, auctions were fewer in number but not in significance. Two auctions took place, with 1 auction result revealing the island’s property aspirations. With a remarkable clearance rate of 100%, one property has found its place, perhaps with a lucky new owner.
National Auction Clearance
Reference CoreLogic.
