Auction Results 30 July 2023

Weekend auction markets closed in July 2023 on a positive note, displaying robust performance with increased listings and higher clearance rates, defying the usual moderating trend of the mid-winter market.

Leading the pack, Sydney recorded the strongest auction clearance rate at an impressive 76.0%. Meanwhile, other capital cities also demonstrated commendable results, with Melbourne at 75.6%, Brisbane at 63.6%, Adelaide at 71.0%, and Canberra at 72.2%. The positive outcome shows a favourable results in Auction Results 30 July 2023.

National Auction Results 30 July 2023

On a national level, the auction market reported a healthy clearance rate of 71.7%. Although slightly lower than the 77.3% reported the previous weekend, it marked a significant improvement over the 62.0% recorded during the same weekend last year.

Remarkably, the mid-winter weekend auction market showcased remarkable resilience, favoring sellers despite the surge in property listings.

Looking ahead, all eyes are on the Reserve Bank of Australia (RBA) as it convenes this Tuesday for the August interest rate decision. If the RBA opts for another pause, it is likely to fuel the ongoing strength of the housing markets, continuing to create a favorable environment for property sellers and investors alike.

Reference CoreLogic.