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Super Saturday Smashes Records in September: Biggest Auction Weekend of the Year

September 24, 2024
super saturday september

Key takeaways:

  • Auction Volume Surge: A total of 2,697 auctions took place across the capitals, marking one of the busiest weekends since Easter.
  • Clearance Rate Drop: The preliminary clearance rate fell to 68.2%, the second-lowest of 2024, largely due to high auction volumes.
  • Sydney and Melbourne Lead: Sydney had a 70.3% clearance rate, while Melbourne hosted the largest number of auctions with 1,274 homes under the hammer.

Australia just saw one of the busiest auction weekends of the year. With nearly 2,700 properties going under the hammer, this “Super Saturday” was a standout.

Unsurprisingly, cities like Sydney and Melbourne led the charge, with high demand and competitive bidding.

In this article, we’ll take a look at the auction results. We’ll explore the top-selling suburbs, the biggest sales, and the top real estate agencies involved.

Record-Breaking Auction Numbers This September

This weekend had 2,697 auctions across the major cities. Melbourne hosted the most, with 1,274 auctions, followed by Sydney with 995.

Other cities, like Brisbane, Adelaide, and Canberra, saw smaller but still important volumes. Meanwhile, Perth and Tasmania had fewer auctions.

RegionResults Collected So FarLast Week PrelimSame Time Last YearNumber of Auctions (Last Week)Number of Auctions (Previous Week)Number of Auctions (Same Time Last Year)
Sydney71370.30%70%9958721,017
Melbourne92568.30%63.9%1,2741,1641,092
Brisbane9556.80%61.3%134176236
Adelaide11474.60%73.3%206155176
Perth7n.a.31.6%161519
Tasmania1n.a.n.a.111
Canberra3748.60%57.90%7171107
Combined Capitals1,89268.20%66.10%2,6972,4572,648
Source: Corelogic

Sydney had a strong clearance rate at 70.3%, while Adelaide topped the weekend with 74.6%. However, Brisbane and Perth saw lower clearance rates.

Number of Properties For Auction Last Week

Auction Clearance Rates Last Week

Sydney had a 70.3% clearance rate, while Melbourne came in just below at 68.3%. Brisbane saw a much lower clearance rate of 56.8%, and Perth struggled with just 28.6% of properties selling.

On the other hand, Adelaide performed well with the highest clearance rate of 74.6%, showing strong buyer interest.

Top 5 Most Expensive Property Sales Across States

Some properties on Soho sold for impressive prices over the weekend. Here are some the top sales from each capital city:

Sold PriceAddressSizeProperty TypeAgent NameAgency Name
$3,700,00072 Cassia Street, Dee Why, NSW, 20994BR 3B 3CHouseGraham BennettRay White Freshwater
$1,420,0003/19 Barcelona Street, Box Hill, VIC, 31283BR 2B 2CHouseJulian BadenachWoodards Blackburn
$1,300,00013 Warwick Avenue, Kurralta Park, SA, 50373BR 1B 2CHouseLyn SagarinoBelle Property Adelaide City
$810,0002/18 First Avenue, Broadbeach, QLD, 42182BR 2B 1CApartmentScott McIntyreAmir Prestige Southport
$750,00073 Twamley Crescent, Richardson, ACT, 29053BR 2B 1CHouseBrett HaymanHayman Partners
Source: Soho.com.au

One of most expensive properties sold at auction last week was a home in Paddington, NSW, for an undisclosed price. High prices like this show how competitive the Sydney market remains.

Best-Performing Suburbs

Certain suburbs stood out this weekend. In Sydney, Epping was a hot spot, with 8 homes sold at auction just last week, reflecting continued demand in the area.

Over in Melbourne, Wollert and the every-popular Brunswick in Melbourne saw strong interest as well.

While Sydney and Melbourne led in auction volumes, Weston Creek, ACT stood out with an 88.5% clearance rate, making it the top-performing auction region in August.

This figure represents a 15.7% year-on-year increase, driven by high demand for family homes in the area.

Weston Creek offers value for buyers priced out of nearby regions like Woden Valley. The combination of well-priced homes and limited stock has resulted in consistently high clearance rates.

CityTop SuburbNo. Properties Sold
at Auction
Clearance Rate
SydneyEpping870.3%
MelbourneWollert, Brunswick768.3%
BrisbaneUpper Mount Gravatt356.8%

Top Agencies Driving Sales on Soho

Top real estate agencies played a key role in this weekend’s auction success. Here are the top-performing agencies on Soho in each state, including their total sales value for the week between 16-22 September:

StateAgency NameTotal Sold Value ($)
New South WalesBelle Property Strathfield | Homebush$6,625,000
VictoriaBiggin Scott Glen Waverley$3,698,000
Western AustraliaThe Agency – Perth$1,840,000
South AustraliaRay White Henley Beach$1,180,000
QueenslandIpswich Real Estate$1,040,000
Australian Capital TerritoryHayman Partners$715,000
6-Bedroom House Sold by Belle Property Strathfield | Homebush

What This Weekend Means for the Market

This weekend’s auction results show a positive outlook for the Australian property market, especially in Sydney, Melbourne, and Adelaide. Demand remains high in these cities, but Brisbane and Perth are seeing slower markets.

Looking ahead, auction volumes are expected to stay high as we move into the last quarter of 2024.

Buyers should be prepared for ongoing competition, especially in top-performing suburbs like Epping. Meanwhile, sellers in Brisbane and Perth might need to adjust their expectations.

Check out Soho’s past articles on Super Saturday

28 October 2023 Super Saturday

Feb 2024 NSW Super Saturday Sales: Top Agency Wins

VIC Super Sat Feb 2024: Top Agency Highlights

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