News & Research

Auction activity continues to fall across the combined capital cities

There were 1,864 homes taken to auction across the combined capital cities this week, down from 2,364 over the previous week and 2,168 this time last year.

Of the 1,453 results collected so far, 55.0 per cent were successful, the lowest preliminary clearance rate recorded since late April 2020. In comparison, the previous week recorded a preliminary clearance rate of 59.8 per cent, which revised down to 56.8 per cent at final figures, while this time last year, 72.1 per cent of reported auctions were successful.

Capital City Auction Statistics (Preliminary)

Melbourne was host to 628 auctions this week, down from 1,000 over the previous week and 1,073 this time last year. Of the 518 results collected so far, 56.8 per cent have been successful, the lowest preliminary clearance rate the city has seen since the week ending 19th September 2021 (56.4 per cent). The previous week recorded a preliminary clearance rate of 61.0 per cent, revising down to 59.0 per cent at final figures. Over the same week last year, 73.1 per cent of auctions were successful.

Weekly clearance rate, combined capital cities

There were 766 auctions held across Sydney this week, compared to 890 over the previous week and 756 this time last year. Of the 629 results collected so far, 52.5 per cent were successful, the lowest preliminary clearance rate the city has seen since April 2020. The previous week recorded a preliminary clearance rate of 55.9 per cent, which revised down to 52.9 per cent at final figures. Once the remaining results are collected, it is likely Sydney’s final clearance will slip below 50.0 per cent.

Capital City Auction Statistics (Preliminary)

Across the smaller capitals, Adelaide recorded the highest preliminary auction clearance rate this week (71.3 per cent), followed by Canberra (51.2 per cent), Perth (50.0 per cent) and Brisbane (43.8 per cent). Brisbane’s preliminary clearance rate is the lowest it has been since the week ending 8th November 2020 (36.4 per cent), while Canberra’s is the lowest since the week ending 12th April 2020 (43.5 per cent). Adelaide was the busiest auction market this week with 192 homes taken to auction across the city, followed by Brisbane (154), Canberra (101) and Perth (21). There were just two auctions held in Tasmania this week.

Sub-region auction statistics (preliminary)

An early view on auction activity for next week shows activity is set to fall further with around 1,700 properties currently scheduled to go under the hammer across the combined capital cities.

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Caitlin Fono

Meet Caitlin Fono

Sr Associate, Research Support

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Caitlin has spent more than a decade working with property data and analytics in various roles, earning a position on the CoreLogic research team in 2013. As a respected and highly experienced research analyst, Caitlin works with high frequency data sets, regularly updating our widely read auction reporting, weekly activity updates and customised data briefs.

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