News & Research

Combined capitals record the highest preliminary clearance rate (75.3%) since February 2022

Auction activity increased 13.0% this week, with 1,912 auctions held across the combined capitals. The previous week saw 1,692 homes auctioned, while this time last year, 1,672 capital city auctions were held.

The combined capitals recorded a third week where the preliminary clearance rate held above 70%, with 75.3% of the 1,496 results collected so far reporting a successful result. Last week’s preliminary clearance rate was 90 basis points lower at 74.4% (revised to 70.7% at final figures), while this time last year, 61.3% of auctions held were successful.

Capital City Auction Statistics (Preliminary)

clearance rates_220523

Cleared Auctions

Weekly clearance rate, combined capital cities

Weekly combined capitals

Melbourne hosted 834 auctions this week, 12.1% more than the 744 held last week. With 696 auction results collected so far, Melbourne’s preliminary clearance rate held above 70% for the sixth consecutive week, at 74.4%. Last week’s preliminary clearance rate (75.7%, revised to 70.4% at final figures) was 1.3 percentage points higher. This time last year, Melbourne hosted 712 auctions and reported a clearance rate of 62.2%.

Capital City Auction Statistics (Preliminary)

Capital City Auction Statistics

There were 762 auctions held across Sydney this week, 17.2% higher than the 650 held last week, and 43.2% above the 532 auctioned this week last year. Of the 605 results collected so far, 78.2% were successful, the highest rate across the capitals and Sydney’s second highest preliminary clearance rate this year. This marks 10 consecutive weeks where the preliminary clearance rate has held above 70%. The previous week’s preliminary clearance rate was 2.0 percentage points lower at 76.2%, revised to 72.3% at final figures, while this time last year, just 58.4% of auctions reported a successful result.

Sub-region auction statistics (preliminary)

Property Pulse_Subregion Auction stats

Across the smaller capital cities, Brisbane was the busiest auction market this week (121), followed by Adelaide (104) and Canberra (72). Adelaide has recorded the strongest preliminary clearance rate across the smaller capitals, with 78.0% of auctions reporting a successful result, followed by Canberra (76.9%) and Brisbane (63.4%). In Perth, seven of the 13 results so far were successful, while no auctions were scheduled in Tasmania this week.

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Duane Kaak

Meet Duane Kaak

Leader, Data Acquisition and Research

A dynamic leader and subject matter expert in the banking, financial services, and real estate industries Duane Kaak, brings more than 20 years’ experience to his role as Leader of Corelogic's Data Acquisition and Research team. Duane has been instrumental in managing and leading teams of researchers across Australia in Corelogic's Commercial, Real Estate and Construction segments for the past four years.

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