There were 1,849 homes taken to auction across the combined capital cities this week, down from the 2,153 originally expected earlier in the week with Melbourne, Sydney and Adelaide currently in lockdown. Over the previous week, 2,097 auctions were held, while this time last year, 1,326 homes were taken to auction. Of the 1,509 results collected so far, 74.8 per cent were successful, down from the previous week’s preliminary clearance rate of 76.3 per cent, which revised down to 73.7 per cent at final figures. This week last year, 54.1 per cent of reported auctions were successful.
Capital City Auction Statistics (Preliminary)
There were 858 auctions held across Melbourne this week, revising down from the 1,087 originally scheduled. The previous week saw 967 homes taken to auction across the city, while this time last year, 540 auctions were held. Of the 700 results collected so far, 71.9 per cent were successful, while 24.1 per cent were reported as withdrawn. Of the 503 sold results collected so far, 53.7 per cent were sold prior to auction. The previous week recorded a higher preliminary auction clearance rate of 76.4 per cent, revising down to 71.5 per cent by final collection on Wednesday.
Weekly Clearance Rate, Combined Capital Cities
Sydney saw 597 properties taken to auction, down from the previous week which saw 769 homes taken to auction across the city and only 3 more than this week last year (594). Of the 523 results collected so far, 74.8 per cent were successful, while 22.4 per cent have been withdrawn. Of the 391 sold results, 61.6 per cent were sold prior to the scheduled auction date. Last week, Sydney’s preliminary auction clearance rate was a higher 77.1 per cent, revising down to 76.6 per cent at final figures.
Canberra was the best performing capital city auction market this week with a preliminary auction clearance rate of 94.9 per cent, followed by Adelaide at 82.3 per cent. Brisbane was the busiest of the smaller capital cities with 169 auctions held.