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By Dr. Andrew Wilson
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Auction clearance results June 22nd | Slowing Winter Market Now Generally Emerging

key takeaways

Key takeaways

Weekend auction markets reported marginally lower clearance rates and fewer listings on Saturday generally as the quieter winter market now emerges.

Canberra had the strongest auction clearance rate of 79.1%.

Auction clearance results for the other capitals were:- Melbourne - 67.0%; Sydney - 68.7%; Brisbane - 54.2% and Adelaide - 71.8%.

The national weekend auction market reported a clearance rate of 68.2% which was again similar to the 67.2% reported over the previous weekend – but again slightly lower than the 70.3% recorded over the same weekend last year.

National auction numbers were lower over the weekend with 1856 listings versus the previous weekends 2068, but again still significantly above the 1088 listed over the same weekend last year.

Weekend auction markets continue to report positive results generally although activity is waning as the typically slower winter market emerges which will be exacerbated over coming weeks as mid-year school holidays commence.

Weekend auction markets reported marginally lower clearance rates and fewer listings on Saturday generally as the quieter winter market now emerges.

Auction results around Australia, Saturday June 22nd 2024:

Capital City This Saturday Last Saturday
Auctions Rate Auctions Rate
Sydney 755 68.7% 805 70.8%
Melbourne 900 67.0% 1003 65.9%
Brisbane 68 54.2% 114 57.5%
Adelaide 86 71.8% 86 75.8%
Canberra 47 79.1% 60 66.0%

The national weekend auction market reported a clearance rate of 68.2% which was again similar to the 67.2% reported over the previous weekend – but again slightly lower than the 70.3% recorded over the same weekend last year.

National Auction Clearance Rates June 22 2024

National auction numbers were lower over the weekend with 1856 listings versus the previous weekends 2068, but again still significantly above the 1088 listed over the same weekend last year.

National Auction Listing Trend June 22 2024

Weekend auction markets continue to report positive results generally although activity is waning as the typically slower winter market emerges which will be exacerbated over coming weeks as mid-year school holidays commence.

Sydney auction clearance results

Sydney Clearance Rates Lower Again as Listings Fall  

The Sydney auction market recorded another slight fall in the clearance rate at the weekend from lower listings numbers.

Sydney Auction Clearance Rates June 22 2024

Sydney reported a clearance rate of 68.7% at the weekend which was again lower than the 70.8% recorded over the previous weekend but similar to the 69.1% rate recorded over the same weekend last year.

Auction numbers were lower at the weekend with 755 listed versus the 805 recorded over the previous weekend, but were again well ahead of the 511 listed over the same weekend last year.

Sydney recorded a median price of $1,675,500 for houses sold at auction at the weekend which was lower than the previous weekend $1,745,000 but 14.8% higher than the $1,460,000 recorded over the same weekend last year.

The North West recorded the highest regional clearance rate at the weekend at 75.3% followed by the City and East at 74.8% and the Northern Beaches at 74.0%. The West and the Central Coast each reported the lowest clearance rate at 52.8%.

The clearance rate for houses was 67.4% with units higher this weekend at 72.5%.

Sydney Regional Auction Clearance Rates June 22 2024

The top reported Sydney auction sale at the weekend was a 5-bedroom house at 23 Forsyth St Willoughby that sold for $7,550,000. View top selling home here 23 Forsyth St Willoughby

The most affordable home reported sold at auction in Sydney at the weekend was a 2-bedroom unit at 10/63 Castlereagh St Liverpool that sold for $330,500.

Top Sydney Auction Results

Melbourne auction clearance results

Melbourne Clearance Rate Higher Again Prior to School Holiday Break

The Melbourne auction clearance rate was higher again at the weekend although listings were lower with the school holiday break to commence next week.

Melbourne recorded a clearance rate of 67.0% on Saturday which was again higher than the 65.9% recorded over the previous weekend and similar to the 67.8% recorded over the same weekend last year.

Melbourne Auction Clearance Rates June 22 2024

900 homes were reported listed over the weekend which was lower than the 1003 auctioned over the previous weekend but again well ahead of the 511 listed over the same weekend last year.

Melbourne recorded a median price of $1,000,000 for houses sold at auction at the weekend which was again higher than the $945,000 reported over the previous weekend but 11.5% lower than the $1,129,750 recorded over the same weekend last year.

Melbourne’s Outer East reported the top regional clearance rate on Saturday with 72.5% followed by the North East at 71.0% and the South East at 70.6%. The West recorded the lowest regional rate at 61.5%.

The house clearance rate for houses was 66.8% with units similar this weekend at 67.8%.

Melbourne Regional Auction Clearance Rates June 22 2024

Melbourne’s top reported auction sale at the weekend was a 5-bedroom house at 5 Rose Av Surrey Hills that sold for $3,725,000. View top selling home here 5 Rose Av Surrey Hills

The most affordable home reported sold at auction in Melbourne at the weekend was a 1-bedroom unit at 2/25 Gladstone St Moonee Ponds that sold for $255,000.

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 Cannberra Auction Results

About Dr. Andrew Wilson 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

1 reply
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