There were 2,526 homes taken to auction across the combined capital cities this week, up 83.2 per cent from the previous week when six of the eight states and territories celebrated the Queen’s Birthday long weekend (1,379).
This time last year, 2,400 auctions were held across the combined capital cities. Of the 1,968 results collected so far, 57.8 per cent were successful, the lowest preliminary clearance rate since August last year. The previous week returned a preliminary clearance rate of 58.5 per cent, revising down to 54.8 per cent at final figures which is the lowest final clearance rate recorded since late July 2020. This time last year, 74.1 per cent of reported auctions were successful.
Capital City Auction Statistics (Preliminary)
In Melbourne, 1,264 homes were taken to auction this week, up from 450 over the previous week and 788 this time last year. Of the 1,016 results collected so far, 57.9 per cent have been successful, up slightly from the previous week’s preliminary clearance rate of 57.4 per cent, which revised down to 52.4 per cent at final figures, the lowest final clearance rate the city has seen since September 2021. Over the same week last year, 69.0 per cent of auctions were successful.
Weekly clearance rate, combined capital cities
There were 793 auctions held across Sydney this week, compared to 541 over the previous week and 1,157 this time last year. Of the 624 results collected so far, 55.4 per cent were successful, the lowest preliminary clearance rate the city has seen since April 2020. The previous week recorded a preliminary clearance rate of 58.1 per cent, which revised down to 54.3 per cent at final figures. Once the remaining results are collected, Sydney’s final clearance rate may slip into the 40 per cent range, although it’s likely to just manage to hold above 50.0 per cent.
Capital City Auction Statistics (Preliminary)
Across the smaller capitals, Adelaide recorded the highest preliminary auction clearance rate (70.0 per cent), followed by Canberra (64.0 per cent) and Brisbane (52.2 per cent). Adelaide was the busiest auction market this week with 179 homes taken to auction across the city, followed by Brisbane (174), Canberra (101) and Perth (14). There was just 1 auction held in Tasmania this week.
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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