There were 2,077 homes originally scheduled to go to auction this week across the combined capital cities, however this has revised down to 1,806 auctions as a portion are rescheduled to a later date. Of the 1,466 results collected so far, which equates to an 81.2% preliminary collection rate, 79.2% were sold results. This week’s preliminary clearance rate is higher than last week’s 74.8% preliminary clearance rate, which later revised down to 73% at final results on Wednesday. Final results last week saw a total 1,728 auctions held. One year ago, a lower 1,154 auctions took place with a final clearance rate of 58.7%.
Capital City Auction Statistics (Preliminary)
In Melbourne, 679 homes were taken to auction this week, recording a preliminary auction clearance rate of 77.1%. This was considerably higher than the 71.9% preliminary figure last week when the city was in lockdown. The final clearance rate came in at 70.8% last week across 772 auctions. One year ago, 357 auctions took place and a final auction clearance rate of 55.1% was recorded.
Weekly Clearance Rate, Combined Capital Cities
Sydney has remained rather resilient despite the prolonged lockdown currently faced. The city has seen over 500 properties taken to auction each week. This week 685 homes proceeded to auction, returning a preliminary auction clearance rate of 80.8%.This week’s results are an improvement on the 74.8% preliminary clearance rate recorded last week. The final results last week came in at 72.8% across 585 auctions. Of the results collected so far this week, 14% were withdrawn, which is lower than last week’s final of 21%. Of the sold results, 64.5% were sold prior the auction event this week, which is higher than the 58.1% of sold priors last week.
Canberra was the best performing of the smaller auction markets this week, with a preliminary auction clearance rate of 92.1%. Following this was Adelaide with a preliminary clearance rate of 82.5%.