1,080 auctions were held last week, a substantial rise from the 644 homes auctioned over the Easter long weekend a week prior, but well down on this time last year when 1,964 homes were taken to auction across the combined capitals
The lower level of activity can at least partly be attributable to the consecutive long weekends of Easter and Anzac Day, which have likely impacted the timing of auction events.
The preliminary auction clearance rate slid further last week, coming in at 64.2% based on results collected to date. Down from 64.7% the previous week (revised down to 57.6% on final numbers), last week’s result marked the lowest preliminary clearance rate since mid-December 2024.
The trend in auction clearance rates has been gradually easing since the week ending February 23rd, when the preliminary clearance rate reached 72.1%, following the 25-basis point rate cut on February 19th.
Historical clearance rates utilise the final auction clearance rate, while the current week is based on the preliminary clearance rate.
Melbourne was the busiest auction market last week, hosting 472 auctions and returning a preliminary clearance rate of 67.6% (highest of any capital city), up from 61.1% the week prior (revised down to 58.8% on final numbers).
398 auctions were held in Sydney with the preliminary auction clearance rate coming in at 66.2%, down from 67.9% the week prior which revised down to 59.6% on final numbers.
Brisbane was the busiest of the smaller capitals, with 98 homes going under the hammer. Only 47.1% of auctions have reported a successful result so far, the lowest preliminary clearance rate since the week ending April 30th, 2023 (43.0%).
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.
76 auctions were held in Adelaide, with 61.1% reporting a positive result so far, the second lowest preliminary clearance rate this year after the week ending March 23rd (60.8%).
Canberra was home to 31 auctions, with 45.8% reporting a successful result so far — the lowest of any capital city.
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.
Three of the four auctions reported in Perth were successful, while there were no auctions in Tasmania last 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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