There were 2,264 capital city homes taken to auction last week, down from 2,617 over the previous week and 2,884 over the same week last year. The preliminary clearance rate came in at 64.6%, 2.2 percentage points higher than the previous week’s preliminary clearance rate (62.4%, revised down to 57.6% once finalised).
Across Melbourne, 1,022 homes were taken to auction last week, compared to 1,236 over the previous week and 1,398 one year ago. Melbourne’s preliminary clearance rate came in at 68.6%, up 1.6 percentage points from the previous week (67.0%, revising down to 60.5% on final numbers), the highest preliminary result since 20th October (69.2%).
816 homes went under the hammer in Sydney last week, down from 927 the week prior week and 934 this time last year. The preliminary clearance rate came in at 63.0%, after the previous week recorded the lowest preliminary clearance rate of the year to date (57.5% which revised down to 54.8% on final numbers).
Historical clearance rates utilise the final auction clearance rate, while the current week is based on the preliminary clearance rate.
Brisbane hosted the most auctions across the smaller capitals, with 166 homes taken to auction last week. A preliminary clearance rate of 59.3% has been reported, up from 57.6% a week earlier (which revised down to 51.0% on final numbers).
There were 159 auctions in Adelaide last week, returning an early clearance rate of 63.0%, up from 61.7% the previous week (which was revised to 61.9% on final numbers).
Just 62 auctions were held in the ACT, down from 78 the previous week. Of the results reported so far, 54.5% were successful, down from 60.8% the week prior (revising down to 53.2% on final numbers).
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.
There were 38 auctions held in Perth, the busiest auction week of the year, returning a preliminary auction clearance rate of 40.0%. Just one auction was held in Tasmania last week, with the result yet to be reported.
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.
Auctions are winding down as Christmas approaches, with just under 850 capital city homes currently scheduled for auction this week, while just a handful of homes are scheduled for auction next week.
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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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