There were 2,418 homes taken to auction across the combined capital cities this week, revising down from the 2,610 auctions predicted earlier in the week, with the majority of the downwards revision once again seen in Melbourne. The previous week saw 1,413 homes taken to auction across the combined capitals, while this time last year 1,251 auctions were held. Of the 1,955 results collected so far, 77.8 per cent were successful, compared to 77.4 per cent over the previous week which revised down to a final clearance rate of 73.6 per cent.
Capital City Auction Statistics (Preliminary)
There were 786 auctions held across Melbourne this week, revising down from the 935 originally scheduled. Over the previous week, 355 homes were taken to auction, while this time last year, 558 auctions were held across the city. Of the 650 results collected so far, 71.5 per cent were successful, down from the previous week when a preliminary clearance rate of 73.0 per cent was recorded, revising down to 68.8 per cent at final figures. Of the 465 sold results reported across Melbourne so far, 38.1 per cent were sold prior to auction.
Weekly Clearance Rate, Combined Capital Cities
There were 1,174 homes taken to auction across Sydney this week, compared to 745 last week and 522 this time last year. There have been 945 results collected so far, returning a preliminary auction clearance rate of 82.6 per cent. Last week’s preliminary clearance rate was a lower 78.5 per cent, which revised down to 74.1 per cent at final figures. Of the 781 sold results reported so far, 48.5 per cent were sold prior to auction. Only 7.7 per cent of Sydney auctions were reported as withdrawn, based on the results collected so far. With a relatively low withdrawal rate and high preliminary clearance rate, it looks like the recent outbreak hasn’t had a material impact on Sydney auction markets.
Across the smaller capital cities, Brisbane recorded a preliminary auction clearance rate of 79.1 per cent, followed by Canberra where preliminary results show 78.1 per cent of auctions were successful. Adelaide recorded a preliminary auction clearance rate of 74.5 per cent, while in Perth, 54.5 per cent of reported auctions were successful.