Both the volume of auctions and preliminary clearance rates fell in the last week of the financial year, with the number of auctions held recorded at 2,001, down from 2,150 the week prior but 458 auctions more than at the same time last year (1,543). The lower auction count was accompanied by a 2.4 percentage point drop in the preliminary clearance rate, from 72.4% over the previous week (revised down to 66.2% on final numbers) to 70.0% last week.
862 auctions were held in Melbourne, down from 975 a week earlier, returning a preliminary clearance rate of 68.2%. The preliminary clearance rate fell from 72.9% a week earlier which revised down to 66.5% on final numbers.
Sydney hosted 767 auctions, with 72.0% returning a successful result, up from 70.7% a week earlier (revised down to 63.9% once finalised, on par with the lowest final clearance rate so far this year).
Capital City Auction Statistics (Preliminary)
The smaller auction markets returned mixed results. Adelaide continued to stand out with a high success rate: 82.0% of the 145 auctions held returned a positive result, however this was the lowest preliminary clearance rate for Adelaide since the last week of May. Brisbane hosted 159 auctions and returned a preliminary clearance rate of 62.9%, the lowest so far this year. 62 auctions were held in Canberra with an early clearance rate of 65.9%. Only four auctions were held in Perth and 2 in Tasmania.
This week, the number of auctions scheduled falls to around 1,800 and a bit less than 1,600 next week. Clearly the winter slowdown is underway, at least from a volume perspective.
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.
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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