Auction volumes were down slightly week-on-week with 2,892 homes taken to auction across the combined capital cities this week. Preliminary results show that of the 2,454 results collected so far, 79.0 per cent were successful. In comparison, the previous week saw 3,016 homes taken to auction, returning a preliminary auction clearance rate of 78.6 per cent, which revised down to 77.2 per cent at final figures. This time last year amidst the COVID-19 restrictions, 417 homes were taken to auction, with 60.4 per cent of reported results recording a sale.
Capital City Auction Statistics (Preliminary)
There were 1,330 homes taken to auction in Melbourne this week, compared to 1,411 over the previous week and 127 this time last year. Of the 1,154 results collected so far this week, 77.6 per cent were successful, up from the previous week when a 76.5 per cent preliminary clearance rate was recorded, revising down to 74.1 per cent at final figures.
Weekly Clearance Rate, Combined Capital Cities
Sydney saw 1,149 homes taken to auction this week, compared to 1,146 over the previous week and 194 this time last year. Preliminary results show that of the 967 auctions reported so far, 81.6 per cent were successful. Last week’s preliminary clearance rate was a higher 82.6 per cent, which revised down to 81.4 per cent at final figures. Sydney’s final clearance rate has held above 80.0 per cent for 13 of the past 14 weeks and this week is likely to be no different once the remaining results are collected.
Across the smaller capital cities, Canberra recorded a preliminary auction clearance rate of 87.8 per cent, followed by Adelaide where preliminary results show 78.5 per cent of auctions were successful. Brisbane recorded a preliminary auction clearance rate of 73.3 per cent, while in Perth, 60.0 per cent of reported auctions were successful.