The combined capital cities saw 2,667 homes taken to auction this week – the busiest auction week since late-May (3,226).
While up 5.1% from the previous week (2,537), the same week last year saw a record-breaking 4,981 homes taken to auction across the combined capital cities – the busiest auction week since CoreLogic records commenced in 2008. Of the 2,024 results collected so far, 57.9% were successful, the lowest preliminary clearance rate since the week ending 24th July. Last week’s preliminary clearance rate was 4.0 percentage points higher (61.9%), revising down to 57.8% at final figures, while 64.0% of reported auctions were successful this time last year. Once the remaining results are collected, the final clearance rate will likely hold below 60% for the third consecutive week.
Capital City Auction Statistics (Preliminary)
Melbourne had its busiest auction week since mid-June (1,266), with 1,182 homes taken to auction across the city, up 2.1% from last week (1,158). This week’s auction activity is -49.0% lower than the same week last year, when Melbourne had its busiest auction week on record (2,318). Of the 946 results collected so far, 59.4% were successful, down -3.0 percentage points from last week’s preliminary clearance rate (62.4%), which revised down to 58.6% at final figures. This time last year, 63.3% of reported auctions were successful.
Weekly clearance rate, combined capital cities
There were 960 homes taken to auction across Sydney this week, up 7.7% from the 891 auctions held last week, making it the busiest auction week the city has seen since late-May (1,109). Of the 735 results collected so far, 58.5% were successful, down -6.3 percentage points from last week’s preliminary clearance rate of 64.8%, which revised down to 59.0% at final figures. This time last year, Sydney hosted its busiest auction week on record (1,791), and a clearance rate of 60.8% was reported.
Capital City Auction Statistics (Preliminary)
Across the smaller capital cities, Adelaide was the busiest auction market this week (189), followed by Brisbane (180) and Canberra (142). Adelaide has recorded the strongest preliminary clearance rate so far (65.5%), followed by Canberra (57.1%) and Brisbane (41.0%). In Perth, just one of the eight results collected so far returned a successful result, while neither of the two Tasmanian auction results have been reported so far.
Sub-region auction statistics (preliminary)
At this stage we are expecting to see around 2,300 homes taken to auction across the combined capital cities next week, before the seasonal slowdown kicks in.
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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