Auction activity is ramping up earlier than usual after the seasonal slowdown, with 448 homes taken to auction across the combined capital cities this week, up substantially from this time last year (244). There have been 310 results collected so far, returning a preliminary auction clearance rate of 68.6 per cent, although the final clearance rate will likely be lower once the remaining results are collected.
Capital City Auction Statistics (Preliminary)
There were 144 homes taken to auction across Melbourne this week, making it the busiest auction market in terms of volumes. Of the 100 results collected so far, 64.0 per cent reported a successful result, roughly on par with the average final clearance rate through December (63.0%) Over the same week last year, 127 homes were taken to auction across the city.
Weekly clearance rate, combined capital cities
In Sydney, 79 homes were taken to auction this week, up from 37 this time last year. Of the 60 results collected so far, 58.3 per cent were successful, down slightly from the December average where 60.4% of auctions cleared.
Clearance rates were generally higher across the smaller capitals, continuing the stronger trend observed through late last year. Adelaide recorded the highest preliminary auction clearance rate (78.0 per cent), followed by Canberra (76.2 per cent) and Brisbane (76.1 per cent). Perth saw 50.0 per cent of homes sold, although volumes remain low across the city. There were two auctions in Tasmania this week, with one reporting a successful result.
Capital City Auction Statistics (Preliminary)
The number of homes taken to auction will continue to rise over the coming weeks, with over 1,150 auctions expected to be held next week, compared to 884 over the same week last year.
Sub-region auction statistics (preliminary)
CoreLogic Australia