News & Research

Preliminary clearance rate slips further across higher volumes

There were 2,685 homes taken to auction across the combined capital cities this week, compared to 1,819 over the previous week (ANZAC Day long weekend) and 2,902 this time last year.

Of the 2,119 results collected so far, 67.2 per cent were successful, overtaking the previous week as the lowest preliminary clearance rate recorded so far this year. The previous week returned a preliminary clearance rate of 67.6 per cent, revising down to 63.4 per cent at final figures. This time last year, the clearance rate was a higher 77.7 per cent across the combined capital cities.

Capital City Auction Statistics (Preliminary)

In Melbourne, 1,285 homes were taken to auction this week, up from 689 over the previous week, although slightly less than this time last year (1,310). Of the 1,051 results collected so far, 68.4 per cent have been successful, similar to the previous week’s preliminary clearance rate (68.3 per cent), which revised down to 63.5 per cent at final figures. Over the same week last year, 75.1 per cent of auctions were successful.

Weekly clearance rate, combined capital cities

There were 907 auctions held across Sydney this week, compared to 715 over the previous week and 1,119 this time last year. The clearance rate slipped further week-on-week, with 62.3 per cent of the 703 results collected so far reporting a successful result, after the previous week recorded a preliminary clearance rate of 64.5 per cent, revising down to 59.5 per cent at final figures. Sydney’s final clearance rate has held below 60 per cent for the past two weeks and it’s likely to be the case again this week once the remaining results are collected.

Capital City Auction Statistics (Preliminary)

Across the smaller capitals, Adelaide recorded the highest preliminary auction clearance rate (80.2 per cent), followed by Canberra (69.5 per cent) and Brisbane (69.3 per cent). In Perth, 9 results have been collected so far, 7 of which were successful. Brisbane was the busiest auction market this week with 178 homes taken to auction across the city, followed by Adelaide (156). Canberra was host to 142 auctions this week, while 16 auctions were held in Perth. There was just one auction held in Tasmania this week.

Sub-region auction statistics (preliminary)

Tags 


CoreLogic Australia

CoreLogic Australia

Subscribe to our newsletter

Receive a weekly email with the latest housing market information, news and updates.

By subscribing to our newsletter list, you agree to receiving updates from the CoreLogic Group about property market research & insights, news & events, products & services, marketing research and special offers. You can opt-out at any time. See our Privacy Policy to find out more.