The Australian property market saw a steady week in auction clearance rates, indicating resilience as the spring auction season begins to wrap up. The national auction clearance rate reached 62.2%, up from 57.8% the previous week but still below the 64.1% achieved during the same weekend last year. All capital cities saw improvement in their weekly auction clearance rates, although they remain lower than earlier in the season.
National Overview of Auction Clearance Rates
The consistent clearance rates reflect a market where buyer interest remains steady, but at a more cautious pace than earlier in spring. Sydney and Melbourne led the major cities in auction numbers and clearance rates, with Adelaide continuing to post strong results and Brisbane showing more subdued activity.
This weekend’s auction results around Australia:
| Capital City | This Week | Last Week | Saturday Last Year | |||
|---|---|---|---|---|---|---|
| Auctions | Rate | Auctions | Rate | Auctions | Rate | |
| Sydney | 1446 | 71.8% | 1407 | 64.7% | 862 | 70.5% |
| Melbourne | 1372 | 69.1% | 603 | 66.1% | 957 | 66.6% |
| Brisbane | 183 | 42.5% | 290 | 40.2% | 83 | 56.3% |
| Adelaide | 212 | 75.1% | 215 | 68.0% | 101 | 74.6% |
| Canberra | 123 | 52.5% | 124 | 49.9% | 83 | 52.5% |
Sydney Auction Market Sees Strong Results
Sydney’s auction market was particularly active, with 1,446 auctions and a clearance rate of 71.8% – up from 64.7% last week. The median auction price for houses settled at $1,610,000, down slightly from last week’s $1,650,000 but still indicative of Sydney’s strong property demand. The Upper North Shore region led with a high clearance rate of 82.9%, closely followed by Lower North Shore at 82.7% and Inner West at 79.0%.
Sydney Regions Auction Results, Saturday, Nov 9th 2024:
| Region | Results | Clearance rate | Median |
|---|---|---|---|
| Canterbury Bankstown | 73 | 78.1% | $1,370,000 |
| Central Coast | 18 | 66.7% | $850,000 |
| City and East | 186 | 78.5% | $1,500,000 |
| Inner West | 200 | 79.0% | $1,495,000 |
| Lower North | 110 | 82.7% | $1,215,900 |
| North West | 59 | 49.2% | $2,212,500 |
| Northern Beaches | 91 | 76.9% | $1,935,000 |
| South | 120 | 75.8% | $1,797,500 |
| South West | 88 | 64.8% | $1,076,000 |
| Upper North Shore | 140 | 82.9% | $2,260,000 |
| West | 149 | 69.1% | $1,300,000 |
| Houses | 1011 | 71.3% | $1,610,000 |
| Units | 362 | 73.2% | $1,055,000 |
| Total | 1238 | 71.8% | $1,430,000 |
Top Sydney Sales, Saturday, Nov 9th 2024:
| Address | Price | Agent |
|---|---|---|
| 36 Ocean View Rd Freshwater | $7,500,000 | Clarke & Humel Property |
| 14 Bradford St Balmain | $7,100,000 | Belle Property Balmain |
| 54 Beaconsfield Rd Chatswood | $6,820,000 | Ray White AY Realty |
| 27 Riverside Dr Sans Souci | $6,400,000 | McGrath Sans Souci |
| 8 Arthur St Ryde | $5,800,000 | Stone Real Estate North Ryde |
| 58 Underwood St Paddington | $5,300,000 | Morton |
| 3 Warren Ball Av Newtown | $5,300,000 | BresicWhitney Inner East |
| 3 Miowera Rd Northbridge | $4,710,000 | Richardson & Wrench |
| 87a Queens Rd Connells Point | $4,620,000 | Gavan Property |
| 85 New St W Clontarf | $4,600,000 | Clarke & Humel Property |
These high-profile sales showcase the demand in Sydney’s premium property market, where well-positioned properties in desirable areas continue to command strong prices.
Melbourne Auction Market Holds Firm Amid High Auction Numbers
Melbourne’s auction clearance rate improved to 69.1%, with 1,372 properties going under the hammer, up significantly from last week’s 603 auctions. The median price for houses sold at auction was $913,000, a notable rise from the previous week’s $801,000, though it remains 10.8% below last year’s median for the same weekend.
Melbourne Regions Auction Results, Saturday, Nov 9th 2024:
| Region | Results | Clearance rate | Median |
|---|---|---|---|
| Inner East | 140 | 65.0% | $1,416,000 |
| Inner South | 190 | 62.6% | $1,070,000 |
| Inner Urban | 106 | 59.4% | $1,110,000 |
| North East | 186 | 71.5% | $803,750 |
| Northern | 181 | 65.7% | $725,000 |
| Outer East | 165 | 75.2% | $1,090,150 |
| South East | 72 | 73.6% | $790,000 |
| West | 264 | 64.4% | $755,000 |
| Houses | 1077 | 67.3% | $913,000 |
| Units | 221 | 65.2% | $626,000 |
| Total | 1304 | 69.1% | $843,500 |
Top Melbourne Sales, Saturday, Nov 9th 2024:
| Address | Price | Agent |
|---|---|---|
| 20 Surrey St Box Hill South | $3,231,000 | Buxton Wheelers Hill |
| 22 Hanby St Brighton | $3,125,000 | Marshall White Bayside |
| 8 Elm Ct Templestowe | $3,080,000 | Marshall White |
| 10 Rosedale Gr Ivanhoe | $2,911,000 | Nelson Alexander Preston |
| 52 Normanby Rd Kew | $2,905,000 | Marshall White Balwyn |
| 63 Draper St Ormond | $2,895,000 | Buxton Real Estate Bentleigh |
| 507-511 Punt Road South Yarra | $2,810,000 | McGrath |
| 14 Annesley Court Mount Waverley | $2,620,000 | Jellis Craig & Company |
| 9 Campbell St Kew | $2,615,000 | Jellis Craig & Company |
| 23 Mackellar Av Wheelers Hill | $2,602,000 | Harcourts Judd White |
Suburban regions such as the Outer East (75.2%) and South East (73.6%) showed high clearance rates, reflecting steady demand across Melbourne’s family-friendly and affordable suburbs.
Brisbane, Adelaide, and Canberra: Regional Market Highlights
Top Brisbane Sales, Saturday, Nov 9th 2024:
| Address | Price | Agent |
|---|---|---|
| 61 Ewer Street Carindale | $3,150,000 | Arrive |
| 70 Evelyn St Grange | $3,000,000 | Ray White Wilston |
| 118 Empress Terrace Bardon | $2,170,000 | Caroline Brown |
| 28A Stevenson St Ascot | $1,910,000 | Ray White Wilston |
| 8 Dilkera Street Balmoral | $1,900,000 | Harcourts |
| 50 Mackay St Windsor | $1,900,000 | Garry Jones Homes Pty Ltd |
| 65 Paling Av Wilston | $1,845,000 | Place |
| 124 Indus Street Camp Hill | $1,790,000 | Place |
| 16 Outlook Cr Bridgeman Downs | $1,785,000 | Ray White Bridgeman Downs |
| 66 Iona Tce Taringa | $1,770,000 | Ray White |
Top Adelaide Sales, Saturday, Nov 9th 2024
| Address | Price | Agent |
|---|---|---|
| 62 Phillis St Maylands | $2,210,000 | Alexander Real Estate |
| 32 Wainhouse Street Torrensville | $2,200,000 | Williams |
| 34 Jetty St Grange | $2,010,000 | Ray White Grange |
| 7 Neptune Crescent West Beach | $1,845,000 | Ray White |
| 54 Kennaway Street Tusmore | $1,800,000 | Ray White |
| 10 Undelcarra Road Burnside | $1,781,000 | Ray White |
| 225 Bunnett Road Bugle Ranges | $1,680,000 | Ray White |
| 23 Primrose Tce Rosslyn Park | $1,663,000 | Ray White Burnside |
| 73 White Av Lockleys | $1,626,000 | Ray White Henley Beach |
| 63 Johns Rd Prospect | $1,600,000 | Harris Real Estate – Kent Town |
Top Canberra Sales, Saturday, Nov 9th 2024:
| Address | Price | Agent |
|---|---|---|
| 13A Farrer St Braddon | $2,875,000 | Independent Property Group |
| 29 Stuart Street Griffith | $2,635,000 | Belle |
| 39 Quiros St Red Hill | $2,615,000 | Belle Property Canberra |
| 12 Juwin St Aranda | $1,405,000 | Ray White Canberra |
| 4 Wisdom Place Hughes | $1,350,000 | Ray White |
| 54 Cullen Street Watson | $1,265,000 | NBHD |
| 40 Banfield Street Downer | $1,250,000 | HIVE |
| 14 Alice Cummins St Gungahlin | $1,230,000 | Above Property Group |
| 18 Redpath Tce Whitlam | $1,190,000 | Luton Properties – Manuka |
| 22 Neilson St Garran | $1,135,000 | Blackshaw Manuka |
- Brisbane reported a clearance rate of 42.5% on 183 auctions, with the top sale at 61 Ewer St, Carindale for $3,150,000.
- Adelaide saw a strong clearance rate of 75.1% on 212 auctions, including a top sale of $2,210,000 at 62 Phillis St, Maylands.
- Canberra had a clearance rate of 52.5%, with the highest sale at 13A Farrer St, Braddon for $2,875,000.
Key Takeaways for Property Buyers and Investors
With clearance rates steadying and strong results in major markets, now could be an opportune moment for prospective buyers to explore their options, particularly as buyer competition begins to moderate toward the end of spring. Each state’s market shows unique dynamics, from Sydney’s high-end sales to Melbourne’s family-oriented suburbs.
Ready to Make Your Move? Contact Vantage Loans
As auction activity holds steady, you might be considering your next property investment. Vantage Loans is here to support you every step of the way, offering expert advice and tailored mortgage solutions to help you make informed decisions. Reach out to us at 1800 595 500 or email support@vantagefinancial.com.au. Visit vantagefinancial.com.au to learn more about how we can assist with your financial goals.
