The combined capital cities saw 2,506 homes taken to auction this week – the busiest week since mid-June (2,528). While up 3.8% from the previous week (2,414), the number of homes taken to auction this week was -39.7% lower than this time last year (4,153).
Of the 1,921 results collected so far, 61.9% were successful. Last week’s preliminary clearance rate was 40 basis points lower (61.5%), revising down to 56.4% at final figures, the lowest clearance rate since late-August (55.8%). This time last year, 66.3% of reported auctions were successful.
Capital City Auction Statistics (Preliminary)
Melbourne’s auction volumes held above 1,000 for the third consecutive week with 1,118 homes taken to auction this week, up 10.6% from last week (1,011), and -41.5% lower than the same week last year when 1,912 Melbourne homes were auctioned. Of the 894 results collected so far, 62.4% were successful, up 1.4 percentage points from last week (61.0%). Last week's initial clearance rate revised down to 56.1% at final figures, the lowest final clearance rate the city has recorded since the week ending 24th July (52.0%). This time last year, 65.3% of reported auctions were successful.
Weekly clearance rate, combined capital cities
There were 895 homes taken to auction across Sydney this week, down -3.7% from the 929 auctions held last week. With 701 results collected so far, 64.8% were successful, up 60 basis points from last week’s preliminary clearance rate of 64.2%, which revised down to 58.6% at final figures. This time last year, 1,466 homes were taken to auction across the city, and a clearance rate of 63.8% was reported.
Capital City Auction Statistics (Preliminary)
Across the smaller capital cities, Adelaide was the busiest auction market this week (178), followed by Brisbane (171) and Canberra (126). Canberra has recorded the strongest preliminary clearance rate so far (67.0%), followed by Adelaide (62.1%) and Brisbane (42.3%). In Perth, three of the eight results collected so far returned a successful result, while just one of the three auctions held in Tasmania this week were successful.
Sub-region auction statistics (preliminary)
Meet Caitlin Fono
Sr Associate, Research Support
Caitlin has spent more than a decade working with property data and analytics in various roles, earning a position on the CoreLogic research team in 2013. As a respected and highly experienced research analyst, Caitlin works with high frequency data sets, regularly updating our widely read auction reporting, weekly activity updates and customised data briefs.
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