Auction activity rose for the third consecutive week, with 1,909 homes taken to auction across the combined capital cities this week, up 5.4% from the previous week (1,812), and 8.4% higher than this time last year (1,761).
Of the 1,411 results collected so far, 58.8% were successful, up 2.8 percentage points from the previous week (56.1%), which revised down to a final clearance rate of 51.9%. Last week’s result was the lowest final clearance rate recorded since early May 2020.
Capital City Auction Statistics (Preliminary)
In Melbourne, 804 homes were taken to auction this week, up 13.2% from the previous week (710), and 22.6% higher than this time last year when 656 auctions were held across the city. So far, 634 results have been collected, returning a preliminary clearance rate of 60.9%, up 3.9 percentage points from the previous week (57.0%), which revised down to 52.0% at final figures. This time last year, 77.2% of Melbourne auctions were successful.
Weekly clearance rate, combined capital cities
There were 626 auctions in Sydney this week, down -7.1% from the previous week (674), and -6.7% lower than this time last year when 671 auctions were held across the city. Of the 466 results collected so far, 55.6% were successful, down from the previous week’s preliminary clearance rate of 56.6%, which revised down to 50.8% at final figures. This time last year, 76.1% of homes taken to auction across the city were successful. Withdrawal rates remain high across the city, with 26.4 per cent of the 466 results collected reported as withdrawn. In comparison, of the 634 results collected in Melbourne so far, 11.7% were reported as withdrawn.
Capital City Auction Statistics (Preliminary)
Across the smaller capital cities, Adelaide recorded the strongest preliminary clearance rate (79.6%), followed by Canberra (54.2%), Brisbane (46.0%) and Perth (43.8%). There was one auction held in Tasmania this week, which was sold under the hammer. Brisbane was the busiest auction market this week with 192 homes taken to auction across the city, up 7.9% from the previous week. Adelaide saw 170 homes taken to auction this week, up 25.9% from the previous week, while 96 homes were taken to auction in Canberra, down -3.0% from the previous week. There were 20 auctions in Perth this week, increasing 25.0% from the previous week, while just one auction was held in Tasmania after recording no auctions for the past two weeks.
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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