The first weekend of winter did not bring a cooling to the auction market as some may have predicted, but in fact produced one of the highest clearance rates of 2024.
Australasia’s largest real estate group reported a preliminary clearance rate of 79 per cent nationally, and an auction volume of 408.
There were an average of 4.2 registered bidders per auction, which is exactly on par with the same week in 2023.
Adelaide was the standout, reporting a 100 per cent clearance rate today of 14 auctions, followed by Sydney coming in at 87 per cent clearance of 29 auctions.
Both anecdotally and in the data, agents remarked that prices on auction day were above and beyond the highest offers received prior. Overall, sellers achieved 12 per cent more on auction day.
The highest sale of the day was in Sydney, where 31 Burns Crescent, Chiswick sold for a huge $13.3 million under the hammer. It was a changing of the guard between two local families, and Ray White NSW chief auctioneer Alex Pattaro said that calling the auction was a career highlight.
All segments of the market had strong bidding activity and strong registration numbers. We recorded successful auction results across every portion of the market, including a sale under the hammer today for $13,300,000 in Chiswick right down to one bedroom units in Blacktown.
We urge sellers not to wait for spring if you are considering coming on the market; meet the rush and take advantage of the strong winter trading conditions we are expecting to continue.
