Auction activity has risen for the second consecutive week, with 1,818 homes taken to auction across the combined capital cities this week, up 7.6 per cent from the previous week (1,689), and 5.2 per cent higher than this time last year (1,728).
Of the 1,422 results collected so far, 56.1 per cent were successful, the seventh consecutive week the preliminary clearance rate has held below 60.0 per cent. This week’s result is down only slightly from the previous week’s preliminary clearance rate (56.4 per cent), which revised down to a final clearance rate of 53.0 per cent, the lowest final clearance rate recorded since early May 2020.
Capital City Auction Statistics (Preliminary)
There were 712 auctions in Melbourne this week, compared to 675 over the previous week and 772 this time last year. Of the 595 results collected so far, 57.0 per cent were successful, rising 1.4 percentage points from the previous week’s preliminary clearance rate (55.6 per cent), which revised down to 52.2 per cent at final figures. This time last year, 70.8 per cent of Melbourne auctions were successful.
Weekly clearance rate, combined capital cities
In Sydney, 678 homes were taken to auction this week, up from 638 over the previous week and 585 this time last year. Of the 530 results collected so far, 56.6 per cent were successful, down slightly from last week’s preliminary clearance rate of 56.9 per cent, which revised down to 54.0 per cent at final figures. This time last year, 72.8 per cent of auctions were successful. Withdrawal rates remain high across Sydney, with 25.1 per cent of the 530 results collected so far reported as withdrawn, holding above 20.0 per cent for the fifth consecutive week.
Capital City Auction Statistics (Preliminary)
Across the smaller capital cities, Adelaide recorded the strongest preliminary clearance rate (71.1 per cent), followed by Canberra (59.2 per cent), Brisbane (39.6 per cent) and Perth (36.4 per cent). Brisbane was the busiest auction market this week, with 182 homes taken to auction, followed by Adelaide (133), Canberra (97) and Perth (16). There were no auctions in Tasmania this week.
Sub-region auction statistics (preliminary)
Meet Caitlin Fono
Sr Associate, Research Support
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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