There were 2,393 homes taken to auction across the combined capital cities this week, up 29.6% from last week (1,846), however -29.3% lower than this time last year (3,386). Of the 1,929 results collected so far, 69.7% were successful.
Last week’s preliminary clearance rate was 1.1 percentage points higher at 70.8%, revising down to 67.2% at final figures the highest final clearance rate since the week ending 13 March 2022 (68.9%). This time last year, 70.9% of reported auctions were successful.
Capital City Auction Statistics (Preliminary)
Melbourne was host to 1,125 auctions this week, up 38.2% from last week (814). Of the 966 results collected so far, 68.2% have been successful, up 50 basis points from last week’s preliminary clearance rate (67.7%), which revised down to 65.6% at final figures. Over the same week last year, 1,574 auctions were held across the city, and a final clearance rate of 67.6% was reported.
Weekly clearance rate, combined capital cities
Across Sydney, 851 auctions were held across the city, up 24.1% from last week (686) although 29.2% lower than this time last year (1,202). Of the 691 results collected so far, 71.8% were successful, down 6.2 percentage points from last week’s preliminary clearance rate (78.0%), which revised down to 71.9% at final figures. Last week’s final clearance rate was the first time the clearance rate has risen above 70% since this time last year (w/e 27 th February 2022, 72.6%).
Capital City Auction Statistics (Preliminary)
Adelaide recorded the highest preliminary clearance rate among the smaller capitals, with 88.6% of auctions reporting a successful result, followed by Brisbane (64.8%) and Canberra (59.8%). Brisbane was the busiest among the smaller capitals, with 145 homes auctioned across the city, followed by Canberra (138) and Adelaide (123). In Perth, two of the four results collected so far were successful, while the one result collected in Tasmania so far this week was unsuccessful.
Sub-region auction statistics (Preliminary)
We are expecting to see fewer homes taken to auction next week, with just over 2,100 capital city homes currently scheduled for auction.
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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