There were 2,393 homes taken to auction across the combined capital cities this week – the busiest week since mid-June (2,528).
While up 4.1% from the previous week (2,298), the number of homes taken to auction this week was -43.7% lower than this time last year (4,251), when selling conditions were more favourable. Of the 1,824 results collected so far, 61.5% were successful. Last week’s preliminary clearance rate was 1.6 percentage points higher (63.1%), revising down to 60.2% at final figures, while this time last year, 68.5% of reported auctions were successful.
Capital City Auction Statistics (Preliminary)
Melbourne was the busiest auction market this week with 987 homes taken to auction across the city, down from 1,008 over the previous week and 1,910 this time last year. Of the 774 results collected so far, 61.0% were successful, down -4.5 percentage points from last week (65.5%), which revised down to 62.3% at final figures. This time last year, 66.3% of reported auctions were successful.
Weekly clearance rate, combined capital cities
There were 933 auctions held across Sydney this week, up 19.9% from the 778 auctions held last week making it the busiest auction week the city has seen since late-May (1,109). With 740 results collected so far, 64.2% were successful, down -3.3 percentage points from last week’s preliminary clearance rate of 67.5%, which revised down to 64.2% at final figures. This time last year, 1,546 homes were taken to auction across the city, and a clearance rate of 67.2% was reported.
Capital City Auction Statistics (Preliminary)
Across the smaller capital cities, Brisbane was the busiest auction market this week (154), followed closely by Canberra (152) and Adelaide (148). Adelaide has recorded the strongest preliminary clearance rate so far (65.9%), followed by Canberra (62.8%) and Brisbane (47.4%). In Perth, three of the eight results collected so far returned a successful result, while the three auctions held in Tasmania this week were unsuccessful.
Sub-region auction statistics (preliminary)
Auction activity will continue to rise heading in to December, with around 2,560 homes currently scheduled for auction across the combined capitals next week.
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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