News & Research

Sydney's preliminary clearance rate rebounds to 67.5%

With auction activity trending upwards for the second week, the combined capitals hosted 2,266 auctions this week – the busiest week since late June (2,364).

While up 4.4% from the previous week (2,170), the number of homes taken to auction this week was -39.1% lower than this time last year (3,720), when selling conditions were much stronger. With 1,790 results collected so far, the combined capital's preliminary clearance rate rose three percentage points, with 63.1% of auctions returning a successful result. Last week, a preliminary clearance rate of 60.1% was recorded, later revised to 57.6% at final figures, while this time last year, 70.3% of auctions were successful.

Capital City Auction Statistics (Preliminary)

Across Sydney, 766 homes went under the hammer this week, down -1.2% from the 775 auctions held last week. Sydney's preliminary clearance rate rebounded this week, with 67.5% of the 634 results collected so far returning a successful result. Last week's preliminary clearance rate was 6.3 percentage points lower at 60.9% (revised to 58.4% at final figures), while the previous week's result (69.7% preliminary, 63.7% final) was Sydney's strongest since mid-April. Despite the rebound in the preliminary rate, Sydney recorded the highest withdrawal rate since mid-September (20.8%), but the portion of properties passed in at auction fell to its lowest rate of the year (11.8%). This time last year, 1,352 homes were taken to auction across the city, and a final clearance rate of 68.7% was reported.

Weekly clearance rate, combined capital cities

Melbourne hosted the busiest auction market this week, with 981 homes auctioned across the city. The previous week saw 938 homes go under the hammer, while this time last year, 1,657 auctions were held. At 65.5%, with 817 results collected so far, Melbourne's preliminary clearance rate held in the 60- 70%range for 17 consecutive weeks. Up 3.2 percentage points from last week's preliminary rate of 62.3% (revised to 60.6% at final numbers), this week's result is still 3.1 percentage points below the portion of successful auctions held this time last year (68.6%).

Capital City Auction Statistics (Preliminary)

Across the smaller capitals, Brisbane hosted the busiest auction market this week (up 13.1%), with 198 homes auctioned across the city. This was followed by Adelaide (157) and Canberra (131), up 2.6% and 20.2% respectively. With a preliminary clearance rate of 61.2%, Adelaide had the most successful week amongst the smaller capitals, despite recording its lowest preliminary clearance rate in almost two years. In Canberra, 50.6% of auctions returned a successful result, while Brisbane recorded a preliminary clearance rate of 49.6%. In Perth, five of the 22 results collected so far returned a successful result, while the two auctions held in Tasmania this week were successful.

Sub-region auction statistics (preliminary)

Auction activity is set to rise as we approach the peak in seasonal activity, with around 2,450 auctions scheduled to be held. Close to 1,000 auctions are scheduled for both Sydney and Melbourne next week, providing a timely test of the market’s depth of demand.


Kaytlin Ezzy

Meet Kaytlin Ezzy



As an economist, Kaytlin is a key member within CoreLogic’s research team. Highly efficient and flexible, she specialises in collating large and customised data sets, data visualisation and residential data reports.

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