2,532 auctions were held across the combined capitals last week, down from 2,873 the week prior and just 1,985 over the same week a year ago (the week after Easter). Auction numbers are set to bounce higher this week, rising to around 2,860, before dropping to around 550 next week due to the Easter long weekend.
The preliminary auction clearance rate strengthened last week, rising to 70.7% which was the highest result in six weeks and the first time the combined capital city preliminary clearance rate has risen above the 70% mark since the week ending February 23rd earlier this year
Most cities recorded a rise in the preliminary clearance rate, demonstrating a broad-based improvement in auction trends despite the uncertainty of US tariff announcements and the subsequent volatility in global share markets last week.
Melbourne hosted the most auctions last week, with 1,192 homes going under the hammer. 72.9% of results have reported a successful result so far, the highest early clearance rate since July last year.
943 homes were auctioned in Sydney, returning a preliminary clearance rate of 69.1%, up from 65.5% a week prior but still well below the mid-February high point when the early clearance rate reached 76.6%.
Historical clearance rates utilise the final auction clearance rate, while the current week is based on the preliminary clearance rate.
Brisbane recorded the highest volume of auctions across the mid-sized capitals, with 170 homes going under the hammer last week. So far, 58.3% of auction results have been reported as successful, the only capital to record a slip in the preliminary clearance rate relative to the week prior.
123 homes were auctioned across Adelaide, with the clearance rate bouncing higher to 87.8% - the highest for Adelaide since the week ending August 11th last year (88.9%).
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.
90 auctions were held across the ACT last week, with a 63.3% clearance rate so far which was the highest in four weeks.
Seven auction results have been collected in Perth so far, three of which were successful, while the two auctions in Tasmania last week were both passed in.
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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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