According to CoinMeta, sales and auction transaction rates for houses in Australia have both rebounded, bringing hope of recovery to the real estate market that has been sluggish this year due to rising interest rates. Data from the real estate research institution Cotality shows that in the past week, the number of house auctions held in Australian capital cities increased by 1.2% compared to the previous week, reaching 1,734. It is expected that the number of auctions will exceed 2,000 in the coming seven days. Among them, Sydney held 709 auctions, roughly the same as the previous week; Melbourne saw a 18.4% increase in the number of auctions, reaching 612. Cotality indicates that Melbourne's auction transaction rate rose by nearly 10 percentage points in a single week, driving the overall data upward. The latest data brings some optimistic signals, suggesting that the downturn in Australia's real estate market may be hitting bottom. Previously, this round of decline in the real estate market could have been one of the most severe in decades. As buyers begin to enter the market taking advantage of falling housing prices, the market may gradually be finding its bottom.