Sydney: 554 properties were up for auction, 359 results were reported, 280 were sold, resulting in a clearance rate of 78%. The total value of the auctions was AUD 305,765,038, with a median house price of AUD 1,416,000.
Melbourne: 644 properties were up for auction, 490 results were reported, 370 were sold, resulting in a clearance rate of 76%. The total value of the auctions was AUD 299,646,840, with a median house price of AUD 980,500.
After the Reserve Bank of Australia’s interest rate hike in May, house prices have not fallen but have shown an upward trend. This week, Sydney’s property market once again demonstrated strong performance, with an auction clearance rate of up to 78%, indicating that the real estate market’s prosperity is continuing.
This high auction clearance rate and high transaction prices are partly due to the shortage of housing supply in Sydney. As the Australian economy gradually recovers, more people are flocking to this prosperous city, but the growth rate of housing supply has not kept pace with the growth rate of demand.
In addition, the 0.25% interest rate hike in Australia in May may prompt some buyers to enter the market early to avoid the burden of future price increases.
Overall, the performance of the Sydney real estate market demonstrates the market’s prosperity, but attention should also be paid to the shortage of housing supply and the risks of future interest rate increases. For homebuyers, it is important to fully consider their financial strength and future risks when making purchasing decisions.
Last Saturday Sydney Auction Top5 House
▼TOP 1. AUD$5,750,000
Address: 8 Arcadia St, Coogee NSW 2034
Land Size: 692 sqm
House | 4 Bed | 2 Bath | 2 Parking
▼TOP 2. AUD$3,700,000
Address: 2 Adolphus St, Balmain NSW 2041
Land Size: 237 sqm
House | 3 Bed | 2 Bath | 1 Parking
▼TOP 3. AUD$3,610,000
Address: 23 McMillan Av, Sandringham NSW 2219
Land Size: 467 sqm
House | 4 Bed | 2 Bath | 4 Parking
▼TOP 4. AUD$3,605,000
Address: 108 Headland Rd, North Curl Curl NSW 2099
Land Size: 719 sqm
House | 3 Bed | 1 Bath | 3 Parking
▼TOP 5. AUD$3,350,000
Address: 73 Fingal Av, Glenhaven NSW 2156
Land Size: 4000 sqm
House | 5 Bed | 3 Bath | 2 Parking
Last Saturday Sydney Auction Top5 Unit
▼TOP 1. AUD$5,500,000
Address: 5605/393 Pitt St, Sydney NSW 2000
Unit | 3 Bed | 3 Bath | 2 Parking
▼TOP 2. AUD$3,120,000
Address: 5/11A Oyama Av, Manly NSW 2095
Unit | 2 Bed | 1 Bath | 1 Parking
▼TOP 3. AUD$2,700,000
Address: 5101/34 Wellington St, Bondi NSW 2026
Unit | 2 Bed | 2 Bath | 1 Parking
▼TOP 4. AUD$2,575,000
Address: 33 Albert St, Botany NSW 2019
Semi | 4 Bed | 2 Bath | 2 Parking
▼TOP 5. AUD$2,400,000
Address: 13/41-45 Phillips St, Cabarita NSW 2137
Unit | 3 Bed | 2 Bath | 2 Parking
