This week the combined capital city preliminary clearance rate saw a slight improvement compared with last week, as the number of auctions held continued to bounce back from the Easter slowdown. There were 2,448 homes taken to auction this week, returning a preliminary auction clearance rate of 80.5%. Over the week prior, a lower 2,199 auctions were held with preliminary figures showing 79.4% of homes sold, later revising down to 76.8% by final collection on Wednesday. Over the same week one year ago, confidence was still quite low over this period as restrictions around onsite auctions and physical home inspections were still impeding activity with only 30% of homes selling over the week across 1,922 auctions.
Capital City Auction Statistics (Preliminary)
In Melbourne, 1,204 homes were taken to auction across the city over the week, returning a preliminary auction clearance rate of 78.1%, which was higher than last week’s preliminary figure of 77.2%, later revising down to 72.5% and last year’s 27.9%. Last week, 1,059 auctions were held and last year 1,016 auctions took place.
Weekly Clearance Rate, Combined Capital Cities
Sydney returned a preliminary auction clearance rate of 84.8% this week as volumes increased. There were 913 auctions held over the week, up on last week’s 821 and also higher than last year’s 735 auctions that took place. This week’s preliminary figure is higher than the 82.8% recorded last week, which revised down to 81.4% at final figures. One year ago, only 33.3% of homes sold across the city.
Across the smaller cities, Canberra continued its strong performance, with 87.4% of homes selling at auction this week, the highest of the capital cities. Following with 82.8% of auctions successful was Adelaide, Brisbane (72.7%) and then Perth (50%).