Key takeaways
The second auction weekend for 2024 has again produced generally solid clearance rates for nearly all capitals, with listings continuing to track well above the numbers reported over the same weekend last year.
Brisbane had the strongest auction clearance rate of 78.9%.
Auction clearance results for the other capitals were:- Melbourne – 72.1%; Sydney – 77.2%; Adelaide – 78.4% and Canberra – 57.9%.
The national auction market reported a clearance rate of 72.9% at the weekend which was well above the 66.0% reported over the previous weekend – and also higher than the 70.8% recorded over the same weekend last year.
Capital city weekend auction markets have commenced 2024 with continuing solid to strong results which are set to continue over coming weekends with the RBA confirming interest rates on hold again over February.
The second auction weekend for 2024 has again produced generally solid clearance rates for nearly all capitals, with listings continuing to track well above the numbers reported over the same weekend last year.
Auction results around Australia, Saturday February 10th 2024:
| Capital City | This Saturday | Last Saturday | ||
|---|---|---|---|---|
| Auctions | Rate | Auctions | Rate | |
| Sydney | 688 | 77.2% | 540 | 75.9% |
| Melbourne | 577 | 72.1% | 423 | 71.9% |
| Brisbane | 73 | 78.9% | 94 | 56.4% |
| Adelaide | 81 | 78.4% | 102 | 73.3% |
| Canberra | 46 | 57.9% | 55 | 52.4% |
The national auction market reported a clearance rate of 72.9% at the weekend which was well above the 66.0% reported over the previous weekend – and also higher than the 70.8% recorded over the same weekend last year.
National auction numbers were significantly higher at the weekend with 1465 listings compared to the previous weekends 1266, and also remained significantly above the 1248 listed over the previous weekend.
Capital city weekend auction markets have commenced 2024 with continuing solid to strong results which are set to continue over coming weekends with the RBA confirming interest rates on hold again over February.
Sydney auction clearance results
Another strong result for early Sydney Weekend Auction Market
The Sydney auction market continues to record strong clearance rates to commence the 2024 season, despite another big day of early year listings.
Sydney recorded a robust clearance rate of 77.2% at the weekend which was higher than the 75.9% recorded over the previous weekend and also higher than the 70.2% recorded over the same weekend last year.
Saturday auction numbers were again relatively high at the weekend with 688 listed versus the 540 auctioned over the previous weekend, and well above the 541 listed over the same weekend last year.
Sydney recorded a median price of $1,670,000 for houses sold at auction at the weekend which was higher than the $1,510,500 recorded over the previous weekend and 4.4% higher than the $1,600,000 recorded over the same weekend last year.
Canterbury Bankstown recorded the highest regional clearance rate at the weekend at 85.5% followed by the City and East 79.7% and the Lower North at 78.8%.
The Central Coast again reported the lowest clearance rate at 27.8%.
The clearance rate for houses was 79.3% with units lower at 72.4%.
The top reported Sydney auction sale at the weekend was a 4-bedroom house at 4 Hay St Collaroy that sold for $5,908,000. View top selling home here 4 Hay St Collaroy
The most affordable home reported sold at auction in Sydney at the weekend was a 1-bedroom unit at 309/29-33 Birmingham St Alexandria that sold for $545,000.
Melbourne auction clearance results
Solid early season – Melbourne Auction Market on the rise
The Melbourne weekend auction market reported another solid result at the weekend, consolidating a clearly robust start to the 2024 season.
Melbourne recorded a clearance rate of 72.1% on Saturday which was higher than the 71.9% recorded over the previous weekend and higher than the 63.0% recorded over the same weekend last year.
577 homes were reported listed over the weekend which was higher than the 423 auctioned over the previous weekend and again well ahead of the 490 listed over the same weekend last year.
Melbourne recorded a median price of $1,006,000 for houses sold at auction at the weekend which was higher than the $907,500 reported over the previous weekend but 5.1% lower than the $1,060,000 recorded over the same weekend last year.
Melbourne’s Inner East reported the top regional clearance rate on Saturday with 82.0% followed by the Inner South at 76.3% and the Outer East 76.2% . The South East recorded the lowest regional rates at 51.9%.
The house clearance rate was 71.3% with units higher this weekend at 74.7%.
Melbourne’s top reported auction sale at the weekend was a 4-bedroom house 49 Durham Rd Surrey Hills that sold for $2,601,000.
View top selling home here 49 Durham Rd Surrey Hills
The most affordable home reported sold at auction in Melbourne at the weekend was a 1-bedroom unit at 17/190 Murrumbeena Rd Murrumbeena that sold for $370,000.
Top Brisbane Auction Results
Top Adelaide Auction Results
Top Canberra Auction Results
