This week, 2,039 homes were taken to auction across the combined capital cities, down from both the previous week (2,699) and this time last year (3,016).
Of the 1,611 results collected so far, 64.7 per cent were successful, once again overtaking the previous week as the lowest preliminary clearance rate recorded so far this year. The previous week returned a preliminary clearance rate of 67.2 per cent, revising down to 62.9 per cent at final figures. This time last year, the clearance rate was a higher 77.2 per cent across the combined capital cities. There is a chance that once final results are collected, the final clearance rate may slip below 60 per cent for the first time since late August 2021.
Capital City Auction Statistics (Preliminary)
In Melbourne, 895 homes were taken to auction this week, down from both the previous week (1,290) and this time last year (1,411). Of the 746 results collected so far, 64.6 per cent have been successful, down from the previous week’s preliminary clearance rate (68.4 per cent), which revised down to 63.7 per cent at final figures. Over the same week last year, 74.1 per cent of auctions were successful.
Weekly clearance rate, combined capital cities
There were 654 auctions held across Sydney this week, compared to 914 over the previous week and 1,146 this time last year. Of the 516 results collected so far, 58.7 per cent were successful, down from the previous week’s preliminary clearance rate of 62.3 per cent, which revised down to 58.2 per cent at final figures. Excluding the week ending 23rd January 2022 when fewer than 100 homes were taken to auction across Sydney, this is the lowest preliminary clearance rate since April 2020.
Capital City Auction Statistics (Preliminary)
Across the smaller capitals, Adelaide recorded the highest preliminary auction clearance rate (81.2 per cent), followed by Canberra (75.0 per cent) and Brisbane (62.7 per cent). Adelaide was the busiest auction market this week with 204 homes taken to auction across the city, followed by Brisbane (185). Canberra was host to 85 auctions this week, while 12 auctions were held in Perth and four in Tasmania.
Sub-region auction statistics (preliminary)
CoreLogic Australia