Auction activity is up for the second consecutive week, with 1,839 capital city homes auctioned this week.
With each of the capitals recording auction volumes inline or above the numbers recorded last week, capital city auction activity rose 14.2% from the previous week (1,611) and was 4.3% higher than the number of auctions held this time last year (1,764). Of the 1,399 results collected so far, 62.6% reported a successful result, the highest preliminary result in 12 weeks. This week’s result is up 1.2 percentage points compared to last week, when a preliminary clearance rate of 61.5% (later revised to 56.0% at final figures) was recorded, while this time last year, 64.3% of capital city auctions were successful.
Capital City Auction Statistics (Preliminary)
Melbourne hosted the busiest auction week this week, with 787 homes auctioned across the city. This week’s auction activity was up 23.0% compared to last week, when 640 homes were auctioned, but down -10.2% compared to this time last year when 876 auctions were held. Falling for the first time in five weeks, Melbourne’s preliminary clearance rate dropped 60 basis points this week, with 64.9% of the 627 results collected so far returning a positive result. While down compared to last week’s preliminary clearance rate (65.5%, revised to 58.8% at final figures), this week’s result is up compared to the portion of successful auctions held this time last year (49.1%), which was impacted by the sixth Melbourne lockdown.
Weekly clearance rate, combined capital cities
Up 6.3% compared to last week (615) and 27.2% higher than this time last year (514), Sydney recorded its busiest auction week in August so far, with 654 homes auctioned across the city. With 63.4% of the 519 results collected so far returning a successful result, Sydney recorded its highest preliminary clearance rate since late April (64.5%). Despite the 3.6 percentage point increase in the preliminary clearance rate, Sydney’s withdrawal rate inched higher to 21.2%. The previous week a final clearance rate of 54.7% was recorded (revised down from a preliminary rate of 59.7%), while this time last year 78.5% of Sydney auctions were successful.
Capital City Auction Statistics (Preliminary)
Across the smaller capital cities, weekly auction activity held steady across Adelaide (125) and Perth (15) and rose across Brisbane (151) and Canberra (103) up 16.2% and 21.2% respectively. Adelaide had the most successful week amongst the smaller capitals, recording a preliminary clearance rate of 68.1%, followed by Canberra (66.7%) and Brisbane (44.2%). In Perth, three of the 14 results collected so far were successful, while two of the three results collected across Tasmania have returned a successful result.
Sub-region auction statistics (preliminary)
Meet Kaytlin Ezzy
Economist
As an economist, Kaytlin is a key member within CoreLogic’s research team. Highly efficient and flexible, she specialises in collating large and customised data sets, data visualisation and residential data reports.
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