There were 2,920 homes taken to auction across the combined capital cities this week, the busiest auction week since late June when 2,960 capital city homes were taken to auction, and the fourth busiest auction week so far this year. Although volumes were high, they were down 5.7 per cent from the 3,096 originally scheduled. In comparison, last week saw 2,708 auctions held across the combined capitals, while at the same time last year, 1,131 homes were taken to auction.

Capital City Auction Statistics (Preliminary)

The higher volumes returned a slightly lower preliminary clearance rate this week, with 81.8 per cent of auctions recording a successful result, down from last week’s preliminary clearance rate of 83.3 per cent, which revised down to 80.2 per cent at final figures. Over the same week last year, a final clearance rate of 66.2 per cent was recorded across the combined capitals.

Weekly clearance rate, combined capital cities

There were 1,478 auctions held in Melbourne over the week, the busiest auction week the city has seen since late March. Of the 1,207 results reported so far, 79.4 per cent have been successful. Last week saw 1,351 homes taken to auction across the city, returning a preliminary clearance rate of 81.9 per cent, revising down to 77.3 per cent at final figures. This time last year, just 187 auctions were held and 60.2 per cent of reported auctions were successful.

Capital City Auction Statistics (Preliminary)

Sydney was host to 911 auctions this week, down from the 983 originally expected. The previous week saw 825 homes taken to auction across the city, while this time last year 704 auctions were held. Of the 808 results reported so far, 85.0 per cent have been successful, the highest preliminary clearance rate the city has recorded since early April. The previous week recorded a preliminary clearance rate of 83.2 per cent, which revised down to 81.7 per cent at final figures. This time last year, 69.1 per cent of reported auctions were successful. Sydney’s final auction clearance rate has held above 80 per cent for the past 7 weeks and this week is likely to be no different once final results are collected.

Across the smaller auction markets, Canberra recorded the highest preliminary clearance rate at 90.7 per cent, followed by Perth (86.7 per cent), Adelaide (82.3 per cent) and Brisbane (78.5 per cent). There was just one auction held in Tasmania this week and it was successful.

Sub-region auction statistics (preliminary)