News & Research

Combined capital city preliminary clearance rate slips below 70% as auction volumes remain high

There were 4,136 homes taken to auction across the combined capital cities this week making it the second busiest week for auctions since CoreLogic records commenced in 2008, down slightly from the previous week when 4,251 auctions were held. This time last year, 2,085 homes were taken to auction across the combined capital cities. There have been 3,402 results collected so far this week, returning a preliminary auction clearance rate of 69.9 per cent, down from the previous week’s preliminary clearance rate of 71.4 per cent, which revised down to a final clearance rate of 68.5 per cent. Over the same week last year, 69.9 per cent of reported auctions were successful across the combined capital cities.

Capital City Auction Statistics (Preliminary)

There were 1,889 homes taken to auction in Melbourne this week, the third busiest week for auctions this year. The previous week saw a higher 1,910 homes taken to auction, while this time last year, auction volumes were significantly lower (899). Of the 1,558 results collected so far, 69.4 per cent were successful, up from the previous week when a preliminary clearance rate of 68.5 per cent was recorded, revising down to 66.3 per cent at final figures. This time last year, 67.7 per cent of reported auctions were successful.

Weekly clearance rate, combined capital cities

This week was the second busiest auction week for Sydney so far this year, with 1,467 homes taken to auction across the city, down from 1,546 over the previous week, although higher than this time last year when 867 auctions were held. Of the 1,249 results collected so far, 67.3 per cent have been successful, the first time the city has seen the preliminary clearance rate slip below 70.0 per cent since early September 2020. The previous week saw a higher preliminary clearance rate of 71.4 per cent, revising down to 67.2 per cent at final figures, the lowest final clearance rate the city has seen all year. It’s likely that the final clearance rate will slip further this week as remaining results are collected. This time last year, 74.1 per cent of reported auctions were successful.

Capital City Auction Statistics (Preliminary)

Across the smaller auction markets, Canberra recorded the highest preliminary clearance rate at 82.1 per cent, followed by Adelaide (76.4 per cent), Brisbane (74.6 per cent) and Perth (43.5 per cent). There were just five auctions held in Tasmania this week, and of the three results captured so far, only one was successful.

Sub-region auction statistics (preliminary)

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CoreLogic Australia

CoreLogic Australia

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