There were 2,017 homes taken to auction across the combined capital cities this week, up from 1,324 over the previous week. Preliminary results show a clearance rate of 77.3 per cent, after last week’s final clearance rate dropped to 67.6 per cent. Although the clearance rate will revise lower as final results are collected, it will likely hold around the low-mid 70 per cent range. This time last year, 1,851 auctions were held across the combined capitals, with less than half returning a successful result (47 per cent).

Capital City Auction Statistics (preliminary)

Melbourne saw 977 homes taken to auction this week, returning a preliminary clearance rate of 76.7 per cent. In comparison, last week saw 775 homes taken to auction returning a final clearance rate of 70.5 per cent. Over the same week last year, a clearance rate of 50.4 per cent was recorded across 912 auctions. 

Weekly Clearance Rate, Combined Capital Cities

There were 729 homes taken to auction across Sydney this week with preliminary results showing a clearance rate of 82.3 per cent. Over the previous week, a final clearance rate of 74.7 per cent was recorded across just 317 auctions. One year ago, 647 auctions were held across Sydney returning a final clearance rate of 45.1 per cent.

Across the smaller auction markets, Perth saw lower auction volumes week-on-week while Adelaide, Brisbane, Canberra and Tasmania all saw an increase in the number of homes taken to auction over the week.