The preliminary auction clearance rate stepped higher last week, rising to 74.7%, the highest early result since the first week of April (75.9%).
Both of the major auction markets recorded a rise in the preliminary clearance rate.
In Sydney, 76.7% of auctions have returned a successful result so far, up 4.7 percentage points from the prior week and the strongest early result since the first week of May (78.1%).
Capital City Auction Statistics (Preliminary)
Melbourne’s preliminary clearance rate came in at 70.2% last week, up 2.0 percentage points from the previous week (68.2%) and roughly in line with the average preliminary clearance rate through the year to-date.
Across the smaller auction markets, the preliminary clearance rate was led by Adelaide at 84.8%, followed closely by Brisbane at 78.9%. Canberra was the only capital city auction market to record a drop in the preliminary clearance rate relative to the previous week, coming in at 64.3%.
Capital City Auction Statistics over time
Historical clearance rates utilise the final auction clearance rate, while the current week is based on the preliminary clearance rate.
From a volume perspective, 1,747 auctions were recorded last week, the lowest count since the Kings Birthday long weekend in mid-June. However, the number of auctions continues to track well ahead of levels recorded at the same time last year (+22%) when 1,428 auctions were held.
The winter slowdown is set to continue, with around 1,500 auctions currently scheduled this week with a bounce back to around 1,700 the following week.
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.
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 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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