The combined capitals hosted a quieter auction week with the number of auctions reducing to 1,790 this week, down -8.0% from the 1,945 held last week and -24.3% below the 2,364 held this week last year.
The combined capitals hosted a quieter auction week with the number of auctions reducing to 1,790 this week, down -8.0% from the 1,945 held last week and -24.3% below the 2,364 held this week last year. The number of auctions held this week was just 29 higher than the average weekly amount since February 2023 (1,761).
Capital City Auction Statistics (Preliminary)
Of the 1,285 results collected so far, 73.8% returned a successful result; the preliminary auction clearance rate has held above the 70% mark for eight weeks in a row. In fact, this week's preliminary clearance rate is the highest in 3 weeks, up 1.3 percentage points on last week's outcome (72.5%), which revised to 69.2% at final figures. This time last year, 56.8% of auctions held were successful.
Weekly clearance rate, combined capital cities
Sydney was narrowly the busiest auction market this week, with 733 homes auctioned across the city. This week's auction numbers were -4.1% below the number held last week (764) and -17.6% less than the 890 auctioned this time last year. This week's preliminary clearance rate of 78.7% from the 507 results collected so far was 4.2 percentage points higher than last week’s result (74.5%) which revised to 70.8% at final figures. This time last year, just 52.9% of homes auctioned across the city were successful.
Capital City Auction Statistics (Preliminary)
The above results are preliminary, with ‘final’ auction clearance rates published each Thursday. CoreLogic, on average, collects 99% of auction results each week. Clearance rates are calculated across properties that have been taken to auction over the past week.
Auction numbers across Melbourne reduced -15.5% this week, from 864 last week to 730 this week. With a preliminary clearance rate of 70.1%, Melbourne recorded its lowest preliminary clearance rate in eleven weeks, down -2.8 percentage points from the previous week's preliminary rate of 72.9% (revised to 69.5% at final numbers). Over the same week last year, 1,000 homes were auctioned across the city, and a final clearance rate of 59.0% was reported.
Brisbane hosted the busiest auction week among the smaller capitals, with 135 homes auctioned this week, down four homes on last week’s 139 auctions. This was followed by Adelaide (103), down five auctions week on week, and Canberra (78), up 26 auctions above the number seen last week (52). Adelaide recorded the highest preliminary clearance rate (79.7%), from the 59 results collected to date. Canberra's preliminary clearance rate (72.0%) rose 1.7 percentage points week on week and Brisbane saw its preliminary clearance rate rise 1.5 percentage points this week to 67.5%. Across Perth, three of the seven results collected to date were successful, and the one auction scheduled in Tasmania this week was withdrawn.
With roughly 1,600 auctions currently scheduled, capital city auction activity is set to reduce further next week by around -10.5%, continuing the early trend towards the usual seasonal winter decline in auction activity, when the number of weekly auctions would typically trend lower with many vendors waiting for spring to bring their homes to market.
Sub-region auction statistics (preliminary)
CoreLogic, on average, collects 99% of auction results each week. Clearance rates are calculated across properties that have been taken to auction over the past week.
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Meet Duane Kaak
Leader, Data Acquisition and Research
A dynamic leader and subject matter expert in the banking, financial services, and real estate industries Duane Kaak, brings more than 20 years’ experience to his role as Leader of Corelogic's Data Acquisition and Research team. Duane has been instrumental in managing and leading teams of researchers across Australia in Corelogic's Commercial, Real Estate and Construction segments for the past four years.
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