This week, the combined capital city preliminary auction clearance rate increased across a higher volume of auctions. There were 1,090 homes taken to auction over the week, up from 648 over the previous week although significantly lower than this time last year (2,022). Of the 822 results collected so far, 71.5 per cent were successful, up from last week’s preliminary figure of 69.3 per cent which later revised down to 64.4 per cent at final collection.
Over the same week last year, a final clearance rate of 73.5 per cent was reported across the combined capitals. Auction activity remains low across Melbourne this week with 60 homes taken to auction. Of the 52 results collected so far, 59.6 per cent were successful while just under one third of reported auctions were withdrawn.
Over the previous week, 55 auctions were held across the city, while this time last year, 974 Melbourne homes were taken to auction. Sydney was host to 754 auctions this week, up from both last week when 430 auctions were held, and this time last year when 733 homes were taken to auction. Of the 587 auction results collected so far, 73.1 per cent were successful, similar to last week’s preliminary result of 73.2 per cent which revised down to 65.8 per cent at final results.
This time last year, Sydney recorded a final auction clearance rate of 76.9 per cent. Across the smaller markets, Canberra recorded the highest preliminary clearance rate of 79.5 per cent, across 78 auction results, followed by Adelaide with a preliminary clearance rate of 70.7 per cent across 41 results.