There were 2,451 homes taken to auction across the combined capital cities this week, up from 2,128 over the previous week, although lower than this time last year when 3,026 auctions were held. Of the 2,053 results collected so far, 81.9 per cent reported a successful result, down from last week’s preliminary auction clearance rate of 84.4 per cent, which revised down to 79.6 per cent at final figures.
Capital City Auction Statistics (Preliminary)
Over the same week last year, 73.9 per cent of reported auctions were successful across the combined capital cities. The final auction clearance rate has held above 75.0 per cent since auction reporting re-commenced in late January after the seasonal slowdown and this week will likely be no exception despite higher volumes.
Weekly Clearance Rate, Combined Capital Cities
In Melbourne, 1,273 homes were taken to auction this week, compared to 1,095 over the previous week and 1,612 this time last year. Of the 1,091 auction results collected so far, 77.7 per cent were reported as successful, down from the previous week’s preliminary clearance rate of 82.2 per cent, which revised down to 77.4 per cent at final figures. This time last year, 74.8 per cent of reported auctions were successful.
Sydney was host to 844 auctions this week, increasing from 768 over the previous week, although lower than this time last year when 1,087 homes were taken to auction across the city. The preliminary clearance rate came in at 88.9 per cent this week, up slightly from the previous week’s preliminary clearance rate of 88.2 per cent, which revised down to 83.4 per cent at final figures.
This time last year, 76.6 per cent of reported auctions were successful. It is likely that Sydney’s final clearance rate will come in around the low to mid 80 per cent range for the 4th consecutive week. Across the smaller cities, Canberra recorded the highest preliminary clearance rate at 84.7 per cent, followed by Adelaide (82.5 per cent) and Brisbane (79.0 per cent).
Sub-region auction statistics
CoreLogic Australia