There were 1,758 homes taken to auction across the combined capital cities this week, slightly higher than the previous week when 1,747 auctions were held. Of the 1,420 results collected so far, 73.2 per cent were successful. Last week, a preliminary clearance rate of 77.0 per cent was recorded across the combined capitals, revising down to 71.0 per cent at final figures. One year ago, 2,412 homes were taken to auction and 70.6 per cent of reported auctions were successful.
Capital City Auction Statistics (Preliminary)
Melbourne was host to 606 auctions this week, while the previous week also saw 606 auctions held across the city. This time last year a higher 1,032 homes were taken to auction. Of the 507 results collected so far, 71.8 per cent were successful, falling from last week’s preliminary clearance rate of 75.8 per cent, which revised down to 70.1 per cent at final figures. One year ago, 71.7 per cent of reported auctions were successful.
Weekly Clearance Rate, Combined Capital Cities
In Sydney, 853 homes were taken to auction this week, compared to 854 over the previous week and 948 this time last year. The preliminary clearance rate came in at 78.6 per cent this week, while the previous week recorded a preliminary clearance rate of 79.6 per cent, revising down to 73.1 per cent at final figures. This time last year, 76.8 per cent of reported auctions were successful.
Across the smaller cities, Adelaide recorded the highest preliminary clearance rate at 77.8 per cent, followed by Canberra (76.2 per cent).
The broader trend in auction markets align with other indicators pointing to some momentum building in the housing market recovery. Housing values are now trending higher across every capital city, including Melbourne, average selling time has reduced and mortgage activity has rebounded strongly.