There were 2,571 homes taken to auction across the combined capital cities this week, up from 2,412 over the previous week making it the 2nd busiest auction week all year. Preliminary results show a clearance rate of 74.1 per cent, compared to last week’s final clearance rate of 70.6 per cent. One year ago, 2,745 auctions were held across the combined capitals, with only 42.0 per cent returning a successful result.
Melbourne saw 1,241 homes taken to auction this week returning a preliminary clearance rate of 77.0 per cent. This week was also the 2nd busiest auction week for Melbourne this year. Over the previous week, 1,032 homes were taken to auction, returning a final clearance rate of 71.7 per cent. This time last year, a clearance rate of 41.3 per cent was recorded across 1,401 auctions.
There were 932 homes taken to auction across Sydney this week with preliminary results showing a clearance rate of 77.2 per cent. The previous week saw a final clearance rate of 76.8 per cent across a similar number of auctions (948). One year ago, 875 auctions were held across Sydney returning a final clearance rate of 42.8 per cent.
Across the smaller auction markets, Adelaide saw an increase in auction volumes week-on-week while Brisbane, Canberra and Perth saw fewer homes taken to auction over the week. Tasmania saw no change in auction numbers week-on-week with a total of 5 properties taken to auction.