There were just under 2,000 capital city homes taken to auction this week, with auction activity relatively steady week-on-week after last week saw 2,022 capital city homes auctioned. Of the 1,949 auctions that took place, 75.6 per cent returned a successful result according to preliminary results, coming in lower than last week’s preliminary figure of 77.3 per cent, which revised down to 73.5 per cent at final figures. It’s expected that this week’s final figure will come in below that given the lower preliminary figure. Last year, 2,139 homes were taken to auction over the same week, however only 46 per cent of these sold.
There were 912 Melbourne homes taken to auction this week, 75.1 per cent of which returned a successful result, down on the 75.2 per cent final auction clearance last week when volumes were higher (974).
One year ago, 45.7 per cent of the 1,087 Melbourne homes taken to auction cleared.
Sydney returned a preliminary auction clearance rate of 84.3 per cent this week across a similar volume of auctions week-on-week. There were 724 homes taken to auction this week, a difference of only 9 auctions on last week’s figures (733) when 76.9 per cent cleared as at final figures. Last year, a lower 675 Sydney homes were auctioned returning a 44.6 per cent success rate.
Canberra was the best performing of the smaller auction markets, with a preliminary auction clearance rate this week of 64.2 per cent, Adelaide followed closely with 63.3 per cent of homes selling at auction.