There were 1,813 homes taken to auction across the combined capital cities this week, with the lower volumes attributed to the ANZAC Day long weekend.
The previous week saw 926 homes taken to auction making it the busiest Easter on record, while this time last year, 2,087 auctions were held across the combined capital cities.
Capital City Auction Statistics (Preliminary)
Of the 1,414 capital city results collected so far, 67.6 per cent were successful which is the lowest preliminary clearance rate recorded so far this year. The previous week returned a preliminary clearance rate of 73.3 per cent, slipping to 62.4 per cent at final figures, the lowest final clearance rate recorded all year, continuing the downwards trend we have been observing over the past couple of months. This time last year, the clearance rate was substantially higher across the combined capital cities (77.2 per cent).
Weekly clearance rate, combined capital cities
Sydney was host to 721 auctions this week, compared to 480 over the previous week and 794 this time last year. The clearance rate was down week-on-week, with 64.5 per cent of the 566 results collected so far reporting a successful result. The previous week saw a preliminary clearance rate of 70.6 per cent, revising down to 58.9 per cent at final figures, the lowest clearance rate the city has seen since the week ending 23rd January (54.9 per cent). This time last year, 79.3 per cent of reported auctions were successful.
Capital City Auction Statistics (Preliminary)
Across the smaller capitals, Adelaide recorded the highest preliminary auction clearance rate (80.4 per cent), followed by Canberra (72.2 per cent) and Brisbane (66.3 per cent). In Perth, 12 results have been collected so far, returning a 41.7 per cent clearance rate. Adelaide was the busiest auction market this week with 162 homes taken to auction across the city, followed by Brisbane (148). Canberra was host to 80 auctions this week, while 15 auctions were held in Perth. There was just one auction held in Tasmania this week.
Sub-region auction statistics (preliminary)
CoreLogic Australia