There were 2,882 homes taken to auction across the combined capitals last week, the third busiest auction week of the year-to-date behind the week before Easter (3,519) and the week ending 27th October (3,135).
The combined capitals preliminary clearance rate slipped a little, coming in at 64.1% compared to 65.8% the week prior (revised down to 58.4% on final numbers). This was the third lowest preliminary clearance rate of the year-to-date.
Historical clearance rates utilise the final auction clearance rate, while the current week is based on the preliminary clearance rate.
1,317 auctions were held in Melbourne last week, down slightly from the week prior (1,330) and the fourth busiest week for auctions since the start of the spring selling season. So far, 64.9% of auctions have been reported as successful, down from a preliminary clearance rate of 66.5% over the previous week, which finalised lower at 59.0%.
1,108 homes went under the hammer in Sydney last week, marking the second busiest week for auctions since the start of the spring selling season and only the third time this year that more than 1,100 auctions were held over the week. 63.4% of auctions have been reported as successful based on the early collection, the second lowest preliminary clearance rate so far this year (after the first week of October at 62.7%).
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.
Across the smaller capitals, Brisbane held the most auctions, with 192 homes going under the hammer and 56.3% of results collected so far reporting as sold. Adelaide hosted 164 auctions, the city’s fifth busiest week for auctions so far this spring, with 70.7% reporting a successful result so far. 81 auctions were held in the ACT, returning a 66.0% preliminary clearance rate.
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.
Around 2,600 auctions are going to market this week, stepping up to approximately 2,700 the week after.
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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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