Across the 1,900 capital city auctions held last week, the preliminary clearance rate came in at 72.9%, 1.5 percentage points lower than the previous week’s early result (74.4%) which revised down to 66.2% once finalised. The volume of auctions was roughly in line with the previous week, but 9.4% higher than the same week a year ago when 1,739 homes were taken to auction.
849 auctions were held in Melbourne last week, down from 906 a week earlier. At 69.8%, last week was the first time Melbourne’s preliminary clearance rate dipped below the 70% mark since the final week of March (63.0%). Finalised clearance rates through the first three weeks of April ranged from 62.6% to 65.7% with an average downwards revision from the preliminary rate of -7.6 percentage points.
Capital City Auction Statistics (Preliminary)
Sydney recorded the second highest volume of auctions last week, with 657 homes taken under the hammer, up from 602 the week prior. The preliminary clearance rate jumped to 78.3%, up from 73.8% the previous week and was the strongest early result since the first week of April (81.6%). Compared to Melbourne, Sydney has seen a larger revision between the preliminary and final results, averaging a -9 percentage point difference over the past four weeks.
Despite falling from the mid-80% range over the prior two weeks, Adelaide continued to lead the smaller auction markets, returning a preliminary clearance rate of 76.4%. This was followed by Brisbane, with 71.7% of the results collected so far retuning a positive result, and Canberra, with a preliminary clearance rate of 63.3%.
The volume of auctions scheduled for this week is set to rise, with around 2,200 auctions currently scheduled.
Capital City Auction Statistics over time
Historical clearance rates utilise the final auction clearance rate, while the current week is based on the preliminary clearance rate.
Capital City Auction Statistics (Preliminary)
The above results are preliminary, with ‘final’ auction clearance rates published each Thursday. CoreLogic, on average, collects 99% of auction results each week. Clearance rates are calculated across properties that have been taken to auction over the past week.
Sub-region auction statistics (preliminary)
CoreLogic, on average, collects 99% of auction results each week. Clearance rates are calculated across properties that have been taken to auction over the past week.
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Meet Kaytlin Ezzy
Economist
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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