Auction activity is slowly picking up, with 440 capital city homes taken to auction last week, up from 262 over the previous week. One year ago, 476 homes were taken to auction. 253 results have been collected so far, returning a preliminary clearance rate of 64.5%.
Melbourne was the busiest auction market with 229 homes taken to auction, up from 132 over the previous week and 192 over the same week last year. Melbourne’s preliminary clearance rate came in at 64.8%, with the final clearance rate likely to revise lower as the remaining results are collected.
Just 64 homes were taken to auction in Sydney last week, up from 55 over the previous week. One year ago, 83 auctions were held across Sydney. The preliminary clearance rate came in at 59.5%.
Historical clearance rates utilise the final auction clearance rate, while the current week is based on the preliminary clearance rate.
Adelaide hosted the most auctions across the smaller capitals, with 69 homes taken to auction. Of the 46 results collected so far, 76.1% have been successful.
There were 61 auctions in Brisbane last week, returning an early clearance rate of 55.3%. Eight auctions were held in the ACT, with just two reporting a successful result so far.
Eight auctions were held in Perth last week with two results reported so far, both of which were sold under the hammer. The one auction held in Tasmania last week was successful.
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.
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.
The number of homes taken to auction will continue to rise over the coming weeks, with around 1,300 auctions currently scheduled across the combined capitals this 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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