Auction volumes across the combined capital cities more than doubled this week to 1,704 after last week’s Easter holiday long weekend (652).
Auction volumes are also higher than this time last year (921) though this was the Easter 2022 Holiday period, and scheduled auctions generally remain lower this year than in the first half of 2022. Of the 1,333 results collected so far, 69.8% were successful, up two percentage points from last week’s preliminary clearance rate of 67.8%, which revised down to 61.5% at final figures. In the four weeks prior to Easter, the preliminary auction clearance rate was averaging 68.8%, with a final clearance rate of 65.7%. This time last year, 62.4% of reported auctions were successful.
Capital City Auction Statistics (Preliminary)
Sydney hosted 680 auctions this week, while last week saw just 371 homes taken to auction across the capital. This time last year, 480 auctions were held across the city. Of the 522 results collected so far, 72.0% were successful, up 60 basis points from last week’s preliminary clearance rate (71.4%), which revised down to 64.6% at final figures. This time last year, a clearance rate of 58.9% was recorded across Sydney.
Weekly clearance rate, combined capital cities
There were 706 homes taken to auction in Melbourne this week, the busiest of the capital cities, compared to 108 last week and 196 this time last year. 72.4% of the 590 results collected so far were successful, up 14.8 percentage points on last week’s preliminary clearance rate of 57.6%, which revised down to 50.9% at final figures. This time last year, 64.3% of reported auctions were successful.
Capital City Auction Statistics (Preliminary)
Across the smaller capitals, Adelaide held the most auctions (122), followed by Canberra (93) and Brisbane (89). In terms of clearance rates, Adelaide was the most successful of the smaller capitals, returning a preliminary clearance rate of 70.4%. Canberra’s preliminary clearance rate came in at 48.7%, while 56.3% of auctions reported in Brisbane so far this week have been successful. In Perth, nine of the 12 results have been collected so far, six of which were successful. Tasmania held two auctions this week, and the one result collected so far was successful.
Sub-region auction statistics (preliminary)
Auction volumes are set to decrease slightly next week with just under 1,500 homes currently set for auction across the combined capital cities. Around 635 of those auctions are scheduled in Melbourne which is set to surpass Sydney as the busiest Auction market next 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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