There were 3,524 homes taken to auction across the combined capital cities this week, overtaking the previous week (3,019) as the second busiest auction week so far this year. This time last year, 1,747 auctions were held across the combined capitals.

Capital City Auction Statistics (Preliminary)

There have been 2,970 results collected so far this week, returning a preliminary auction clearance rate of 78.9 per cent, in line with the previous week’s final clearance rate, which had revised down from a preliminary clearance rate of 81.0 per cent. Over the same week last year, 71.0 per cent of reported auctions were successful across the combined capital cities.

Weekly clearance rate, combined capital cities

There were 1,739 homes taken to auction in Melbourne this week, the second busiest week for auctions so far this year, and the third busiest week since March 2018. The previous week saw 1,467 homes taken to auction, while this time last year, 606 auctions were held across the city. Of the 1,494 results reported so far, 77.4 per cent have been successful. In comparison, the previous week recorded a preliminary clearance rate of 80.1 per cent, revising down to 77.8 per cent at final figures, while this time last year, 70.1 per cent of reported auctions were successful.

Capital City Auction Statistics (Preliminary)

In Sydney, 1,144 homes were taken to auction this week, up from 974 over the previous week and 854 this time last year. There have been 996 results collected so far, returning a preliminary clearance rate of 79.3 per cent. The previous week saw a preliminary clearance rate of 80.8 per cent, which revised down to 78.5 per cent at final figures, while this time last year 73.1 per cent of reported auctions were successful. Last week saw Sydney’s final auction clearance rate drop below 80 per cent for the first time since the week ending 22nd August, and it’s likely to remain below 80 per cent again this week.

Across the smaller auction markets, Canberra recorded the highest preliminary clearance rate at 90.3 per cent, followed by Adelaide (86.5 per cent), Brisbane (76.8 per cent) and Perth (46.2 per cent). There were just three auctions held in Tasmania this week, and only one result has been reported so far, which was successful.

Sub-region auction statistics (preliminary)