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Auction clearance results March 23rd – Massive Super Saturday of Auctions Fails to Drag Markets Down - featured image
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Auction clearance results March 23rd – Massive Super Saturday of Auctions Fails to Drag Markets Down

key takeaways

Key takeaways

Weekend auction markets have hosted a remarkable Super Saturday of pre-Easter holiday auctions, with clearance rates remaining relatively steady despite the flood of listings.

Sydney had the strongest auction clearance rate of 75.3%.

Auction clearance results for the other capitals were:- Melbourne - 64.1%; Brisbane -55.1%; Adelaide - 70.6% and Canberra - 66.7%.

The national auction market reported a clearance rate of 66.4% at the weekend which was higher than the 65.0% reported over the previous weekend – but marginally lower than the 68.5% recorded over the same weekend last year.

Pre-Easter holiday national auction numbers were predictably higher with an extraordinary 3000 listings versus the previous weekends 2448, and significantly above the 1901 listed over the same weekend last year.

Weekend auction markets have concluded the first part of the autumn selling season with remarkable results that have featured record numbers of home listings and sales for this time of the year.

Weekend auction markets have hosted a remarkable Super Saturday of pre-Easter holiday auctions, with clearance rates remaining relatively steady despite the flood of listings.

Auction results around Australia, Saturday March 23rd 2024:

Capital City This Saturday Last Saturday
Auctions Rate Auctions Rate
Sydney 1136 75.3% 836 71.3%
Melbourne 1516 64.1% 1290 65.2%
Brisbane 130 55.1% 120 56.4%
Adelaide 122 70.6% 115 74.4%
Canberra 96 66.7% 87 57.6%

The national auction market reported a clearance rate of 66.4% at the weekend which was higher than the 65.0% reported over the previous weekend – but marginally lower than the 68.5% recorded over the same weekend last year.

National Auction Clearance Results 23rd March

Pre-Easter holiday national auction numbers were predictably higher with an extraordinary 3000 listings versus the previous weekends 2448, and significantly above the 1901 listed over the same weekend last year.

National Auction Listing Trend

Weekend auction markets have concluded the first part of the autumn selling season with remarkable results that have featured record numbers of home listings and sales for this time of the year.

Sydney auction clearance results

Sydney Clearance Rate Rises Despite Near Record Day of Listings

The Sydney auction market reported a higher clearance rate at the weekend despite a remarkable near-record number of pre-Easter Super Saturday auctions.

Sydney Auction Clearance Results 23rd March

Sydney recorded another robust clearance rate of 75.3% at the weekend which higher than the 71.3% recorded over the previous weekend and also higher than the 69.5% recorded over the same weekend last year.

Saturday auction numbers were again high at the weekend with 1136 listed versus the 836 auctioned over the previous weekend, and remained significantly above the 659 listed over the same weekend last year.

Sydney recorded a median price of $1,836,000 for houses sold at auction at the weekend which was lower than the $1,870,000 recorded over the previous weekend but 8.1% higher than the $1,699,000 recorded over the same weekend last year.

The Lower North again recorded the highest regional clearance rate at the weekend at 81.0% followed closely by the Northern Beaches 80.2% and South West at 79.9%.

The Central Coast again reported the lowest clearance rate at 59.0%.

The clearance rate for houses was 74.2% with units higher this weekend at 79.4%.

Sydney Regional Auction Clearance Results 23rd March

The top reported Sydney auction sale at the weekend was a 4-bedroom house at 13a Roslyn Gdns Elizabeth Bay that sold for $7,250,000.

View top selling home here 13a Roslyn Gdns Elizabeth Bay

The most affordable home reported sold at auction in Sydney at the weekend was a 2-bedroom unit at 5/93 Victoria Rd Punchbowl that sold for $390,000.

Top Sydney Auction Results

Melbourne auction clearance results

Huge Melbourne Auction Day Fails to Crack Market  

Clearance rates were relatively steady in Melbourne despite a massive day of pre-Easter holiday listings.

Melbourne recorded a clearance rate of 64.1% on Saturday which was slightly lower than the 65.2% recorded over the previous weekend but again lower than the 74.5% recorded over the same weekend last year.

Melbourne Auction Clearance Results 23rd March

A remarkable 1516 homes were reported listed over the weekend which was predictably above the 1290 auctioned over the previous weekend and again well ahead of the 996 listed over the same weekend last year.

Melbourne recorded a median price of $1,130,000 for houses sold at auction at the weekend which was higher than the $1,125,000 reported over the previous weekend and again 0.9% higher than the $1,120,000 recorded over the same weekend last year.

Melbourne’s West reported the top regional clearance rate on Saturday with 70.5% followed by the Inner South at 67.8% and the Outer East 66.1%. The Inner East recorded the lowest regional rate at 57.2%.

The house clearance rate was 64.0% with units higher this weekend at 64.5%.

Melbourne Regional Auction Clearance Results 23rd March

Melbourne’s top reported auction sale at the weekend was a 4-bedroom house at 23 Compton St Canterbury that sold for $4,001,800.

View top selling home here 23 Compton St Canterbury

The most affordable home reported sold at auction in Melbourne at the weekend was a 1-bedroom unit at 12/5 Mcgrath Ct Richmond that sold for $290,000.

Top Melbourne Auction Results

Top Brisbane Auction Results

Top Brisbane Auction Results

Top Adelaide Auction Results

Top Adelaide Auction Results

Top Canberra Auction Results

Top Canberra Auction Results

About Dr Andrew Wilson, Chief Economist of www.MyHousingMarket.com.au is widely regarded as Australia’s leading property economist.
29 comments

Hi Michael Thanks for posting another great article packed with detailed figures. The headline actually matches the data which is refreshing and unlike business news sections in major newspapers where alarming headline is half-backed by incomplete d ...Read full version

1 reply

MELBOURNE AUCTION GROUP My July and August auction bookings have skyrocketed compared to previous months and this time last year with auctions spilling over into Sunday. I am finding that 50% are selling on the day and prior and the balance are bein ...Read full version

1 reply

Hi Clearance rates seem great at the moment, but I live in the inner west of Sydney and know of a couple of properties that were pulled from auction for that weekend because of lack of interest and the offers prior to the auction date were very low ...Read full version

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