There were 1,972 homes taken to auction last week, up from 1,670 over the previous week and the highest weekly volume so far this year.
Clearance rates have also been on an upward trend, with the preliminary capital city clearance rate coming in at 71.2%, the first time we have seen the early success rate above the 70% mark since the week ending 8th September last year (71.7%). Similarly, the final clearance rate from the week prior reached 64.2%, the highest since the first week of September 2024.
Melbourne hosted the most auctions this week, with 845 homes going under the hammer, up from 675 the previous week. The preliminary clearance rate nudged over the 70% mark (70.7%) for the first time since the week ending 8th September 2024. We should see the volume of Melbourne auctions surpass the 1,000 mark this week, with around 1,100 homes currently scheduled to go under the hammer.
Historical clearance rates utilise the final auction clearance rate, while the current week is based on the preliminary clearance rate.
796 auctions were held across Sydney, also the highest over the year to date. We should see around 1,000 homes taken to auction this week. The preliminary clearance rate bounced higher, to 76.6%, the highest since the first week of July last year (76.7%).
Across the smaller auction markets, Brisbane led with 152 homes taken to auction, down from 205 a week ago and returning a preliminary clearance rate of 57.8%. Adelaide hosted 111 auctions and recorded a preliminary clearance rate of 61.7% (on par with the first week of February as the lowest preliminary clearance rate so far this year). 59 auctions were held in the ACT, returning a 60.0% preliminary clearance rate. Just eight auctions were held in Perth, with three returning a successful result so far, while the one auction in Tasmania was unsuccessful.
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 volume of auctions is set to rise further this week, to around 2,450 and approximately 2,500 over the final week of February/beginning of March.
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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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