The combined capital city preliminary auction clearance rate remained relatively steady week-on-week, despite the announcement earlier in the week that Sydney was extending the current lockdown and Melbourne was commencing a 5th lockdown. There were 2,169 capital city homes taken to auction over the week, and of the 1,755 results reported so far, 76.3 per cent were successful. This was similar to the previous week which saw 2,104 homes taken to auction across the combined capitals, returning a preliminary auction clearance rate of 76.4 per cent, which revised down to 73.7 per cent by final collection on Wednesday.
Capital City Auction Statistics (Preliminary)
There were 1,017 auctions held across Melbourne this week, revising down from the 1,198 originally scheduled. Over the previous week, 1,076 homes were taken to auction, while this time last year, 500 auctions were held across the city. Of the 805 results collected so far, 76.4 per cent were successful, up from the previous week when a preliminary clearance rate of 75.3 per cent was recorded, revising down
to 71.2 per cent at final figures. Of the 615 sold results reported across Melbourne so far, 42.1 per cent were sold prior to auction. With the city in lockdown, the withdrawal rate increased week-on-week across the city with 17.5 per cent of the 805 results reported as withdrawn, compared to 7.0 per cent over the previous week.
Weekly Clearance Rate, Combined Capital Cities
Sydney saw 786 properties taken to auction, down -8.5 per cent from the initial predicted count as the city remains in lockdown. Of the 681 results collected so far, 77.1 per cent were successful, while 18.6 per cent have been withdrawn. Of the 525 sold results, 64.2 per cent were sold prior to the scheduled auction date. Last week, 650 Sydney homes were taken to auction, returning a final auction clearance rate of 74.3 per cent.
Adelaide was the best performing capital city auction market this week with a preliminary auction clearance rate of 83.1 per cent. Brisbane was the busiest of the smaller capital cities with 160 auctions held.