The combined capital city auction clearance rate fell to 62.3 per cent over the December quarter, down from 67.8 per cent over the September quarter.
Clearance rates are down across all but two capital cities over the December quarter, with Sydney recording the largest fall, down from 66.8 per cent to 57.7 per cent. Brisbane and Adelaide were the only cities where clearance rates didn’t fall, with both cities increasing by just 0.2 per cent over the December quarter. Melbourne recorded the highest clearance rate over the quarter at 68.1 per cent, down from 72.6 per cent the previous quarter, followed by Canberra at 66.3 per cent. Overall, the combined capital city clearance rate for the December quarter is lower on both a quarterly and annual basis.
Auction volumes increased over the December quarter with an additional 4,455 homes taken to auction across the combined capital cities when compared to September 2017. Melbourne was the busiest auction market with 15,768 homes taken to auction over the quarter, 2,705 more than the previous quarter, followed by Sydney with 11,252 scheduled auctions. Across the smaller auction markets, Brisbane was host to the highest volume of auctions over the quarter (2,012), followed by Adelaide (1,524) and Canberra (1,192).
Auction market review highlights
Capital city auction clearance rate & volumes
|Capital City||Clearance Rate||Volumes|
|Sydney||57.7 %||(11,252 auctions)|
|Melbourne||68.1 %||(15,768 auctions)|
|Brisbane||46.7 %||(2,012 auctions)|
|Adelaide||63.3 %||(1,524 auctions)|
|Perth||39.7 %||(565 auctions)|
|Tasmania||57.3 %||(95 auctions)|
|Canberra||66.3 %||(1,192 auctions)|
|Combined capitals||62.3 %||(32,408 auctions)|
Highest number of auctions for the quarter across capital city suburbs:
Based on total auctions held across the suburb over the reporting period
|Capital City||Suburb||No. of Auctions|
Highest clearance rate for the quarter by capital city suburbs:
Clearance rates are calculated when there has been at least 20 auction results reported over the period
|Capital City & Suburb||Clearance Rate||Results|
|Melbourne: Mernda||92.5%||captured results: 67, scheduled auctions: 70, number sold: 62|
|Adelaide: Prospect||89.7%||captured results: 29, scheduled auctions: 32, number sold: 26|
|Sydney: Queenscliff||88.9%||captured results: 27, scheduled auctions: 35, number sold: 24|
|Canberra: Kaleen||86.4%||captured results: 22, scheduled auctions: 25, number sold: 19|
|Brisbane: Coorparoo||63.0%||captured results: 27, scheduled auctions: 32, number sold: 17|
Across the non-capital city markets monitored by CoreLogic, Geelong was the only region to record an increase in the auction clearance rate over the December quarter, while the Hunter region saw the biggest fall in clearance rates when compared to the previous quarter. Geelong was the best performing region in terms of clearance rates, with 80.1 per cent of auctions recording a successful result, while the Gold Coast recorded the lowest clearance rate this quarter (39.0 per cent), despite being the busiest region in terms of auction volumes (752). Auction volumes fell across the Sunshine Coast over the December quarter, with 460 homes taken to auction, down from 544 over the previous quarter, while Geelong saw the largest increase in auction volumes when compared to September 2017, followed by the Wollongong region.