News & Research

Auction clearance rates lift as the volume of auctions more than doubles week-on-week across the combined capital cities

There were 1,160 homes taken to auction across the combined capital cities this week, up 166.1 per cent when compared to the previous week (436), while the same week last year saw 884 capital city homes taken to auction. Of the 885 results collected so far, 74.1 per cent have been successful, up from last week’s preliminary clearance rate of 68.6 per cent, which revised down to a final clearance rate of 66.0 per cent. This was the highest preliminary clearance rate across the combined capitals since the week ending 21st November 2021 (74.5 per cent), demonstrating a stronger start to the year, albeit on volumes that are still ramping up from seasonal lows. This time last year, 77.2 per cent of reported auctions were successful.

Capital City Auction Statistics (Preliminary)

There were 393 homes taken to auction across Melbourne this week, up from 140 over the previous week, although similar to the same week last year (390). Of the 320 results collected so far, 68.4 per cent were successful, up from last week’s preliminary clearance rate of 64.0 per cent, which revised down to 60.4 per cent at final figures. Over the same week last year, 80.0 per cent of auctions were successful.

Weekly clearance rate, combined capital cities

Sydney was host to 326 auctions this week, up from just 73 over the previous week, and 270 this time last year. Of the 254 results collected so far, 70.5 per cent have been successful, up from last week’s final clearance rate of 54.9 per cent, which was revised down from a preliminary clearance rate of 58.3 per cent. This week last year, 76.7 per cent of auctions were successful.

Capital City Auction Statistics (Preliminary)

Across the smaller capital cities, Adelaide recorded the highest preliminary auction clearance rate (83.6 per cent), followed by Canberra (82.3 per cent) and Brisbane (81.5 per cent). Of the 12 auction results reported in Perth so far, 58.3 per cent were successful, while in Tasmania, just one auction was held which was successful. Adelaide was the busiest auction market over the week, with 194 homes taken to auction, followed by Brisbane with 152 auctions.

Sub-region auction statistics (preliminary)

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CoreLogic Australia

CoreLogic Australia

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