This week, 2,691 homes were taken to auction across the combined capital cities, revising down from the 3,101 auctions predicted earlier in the week. The downwards revision is largely due to the extension of Melbourne’s lockdown. In comparison, the previous week saw 2,905 homes taken to auction while this time last year, 711 auctions were held. Of the 2,223 results collected so far, 73.5 per cent were successful, compared to 75.7 per cent over the previous week which revised down to a final clearance rate of 73.5 per cent.
Capital City Auction Statistics (Preliminary)
While Melbourne remains in lockdown, 1,098 auctions were held across the city, revising down from the 1,452 originally scheduled. Over the previous week, 1,246 auctions were held, while this time last year, just 195 homes were taken to auction across the city. The extended lockdown has impacted the clearance rate this week with preliminary figures showing 67.3 per cent of the auctions collected so far were successful, down from the previous week, when a preliminary clearance rate of 72.8 per cent was recorded, revising down to 71.7 per cent at final figures. Of the 935 auctions collected so far this week, 29.5 per cent were withdrawn, and of the 629 sold results, 59.0 per cent sold prior to auction. As mentioned last weekend, over the year to date and excluding the temporary lock down period in February, the average proportion of auctions sold prior to the auction event was about 26 per cent and only around 4.5 per cent of auctions are withdrawn.
Weekly Clearance Rate, Combined Capital Cities
There were 1,171 homes taken to auction across Sydney this week, compared to 1,174 last week and 398 this time last year. There have been 956 auction results collected so far, returning a preliminary auction clearance rate of 79.6 per cent. Last week’s preliminary clearance rate was a higher 81.0 per cent, which revised down to 76.0 per cent at final figures.
Across the smaller capital cities, Canberra recorded a preliminary auction clearance rate of 78.5 per cent, followed by Adelaide where preliminary results show 73.3 per cent of auctions were successful. Brisbane recorded a preliminary auction clearance rate of 69.0 per cent, while in Perth, 61.5 per cent of reported auctions were successful.
Sub-region auction statistics