After initially expecting the busiest week since May-2022 in the lead up to Easter, the actual number of capital city homes taken to auction over the week revised down to 2,685 which is still the busiest auction week since mid-December (2,717).
The number of homes taken to auction this week is up 16.6% on last week when 2,303 auctions were held, although -16.3% lower than the same week last year (3,209). Of the 2,004 results collected so far, 70.7% were successful, down just 30 basis points on last week (71.0%) when we saw the highest preliminary clearance rate recorded since mid-April 2022 (73.3%). Last week’s final clearance rate revised down to 66.7%, with similar revision likely again this week as remaining results are collected. This time last year, 66.8% of reported auctions were successful. The week prior to Easter 2022 saw 4,035 homes taken to auction across the city and a final clearance rate of 64.0% was recorded.
Capital City Auction Statistics (Preliminary)
There were 1,188 homes taken to auction across Melbourne this week, the busiest auction week since mid-December (1,226). This is up 4.5% on last week (1,137), although down -20.9% on this time last year (1,501). Of the 964 results collected so far, 71.2% were successful, down -2.3 percentage points on last week (73.5%), which revised down to 69.0% at final figures. Last week’s final clearance rate was the strongest result the city has seen since the w/e 20th February 2022 (73.4%), while this time last year, a clearance rate of 67.0% was recorded. The week prior to Easter 2022 saw 1,795 auctions held across the city, and a clearance rate of 62.7% was recorded.
Weekly clearance rate, combined capital cities
Sydney saw 1,019 homes taken to auction, the busiest auction week since late-May 2022 (1,109). Last week saw 790 homes taken to auction, while this time last year, 1,136 auctions were held across the city. Of the 760 results collected so far, 73.3% were successful, up 1.8 percentage points on last week’s preliminary clearance rate of 71.5%, which revised down to 67.2% at final figures. One year ago, 63.8% of reported auctions were successful. The week prior to Easter 2022 saw 1,490 auctions held across the city, and a clearance rate of 61.7% was recorded.
Capital City Auction Statistics (Preliminary)
Across the smaller capitals, Brisbane held the most auctions (177), followed by Adelaide (161) and Canberra (121). Adelaide recorded a preliminary clearance rate of 71.6%, followed by Brisbane (64.2%) and Canberra (55.6%). In Perth, just six of the 11 results collected so far were successful, while one of the three auctions held in Tasmania this week was successful.
Sub-region auction statistics (preliminary)
Auction volumes are set to dive next week due to the Easter long weekend, with fewer than 700 capital city homes currently scheduled for auction. After Easter, auction activity generally trends lower into the cooler months before ramping up into spring.
Download Property Market Indicator Summary
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.
Full profile