There were just under 5,000 homes taken to auction across the combined capital cities this week (4,970), the busiest week for auctions since CoreLogic records commenced in 2008, up from 4,153 over the previous week and significantly higher than the same week last year (2,580). The high volumes have seen the preliminary clearance rate trending lower over the past couple of months and this week was no exception. Of the 4,036 results collected so far, 66.6 per cent were successful, the lowest preliminary clearance rate since late August. In comparison, the previous week saw a preliminary auction clearance rate of 69.9 per cent, revising down to a final clearance rate of 66.3 per cent, while this time last year, 71.1 per cent of reported auctions were successful.
Capital City Auction Statistics (Preliminary)
There were 2,309 homes taken to auction across Melbourne this week, overtaking the week ending 25th March 2018 (2,071) as the busiest week on record. The previous week saw 1,912 homes taken to auction across the city, while this week last year, 1,167 auctions were held. Of the 1,922 results collected so far, 65.3 per cent were successful, in line with the previous week’s final clearance rate, which had revised down from a preliminary clearance rate of 69.4 per cent. This time last year, 69.7 per cent of reported auctions were successful.
Weekly clearance rate, combined capital cities
Sydney also saw record breaking auction volumes this week, with 1,797 homes taken to auction across the city, overtaking the week ending 30th November 2014 as the busiest week on record (1,631). Over the previous week, 1,466 auctions were held, while this time last year, 1,009 Sydney homes were taken to auction. Of the 1,496 results collected so far, 63.6 per cent were successful, down from last week’s preliminary auction clearance rate of 67.3 per cent, which revised down to 63.8 per cent at final figures, the lowest final clearance rate the city has seen all year. It is possible that the final clearance rate may fall below 60 per cent for the first time since August 2020 as the remaining results are collected. This time last year, 73.1 per cent of reported auctions were successful.
Capital City Auction Statistics (Preliminary)
Across the smaller auction markets, Adelaide (309), Brisbane (305) and Canberra (217) all had their busiest auction week since records commenced in 2008. Adelaide recorded the highest preliminary clearance rate at 83.7 per cent, followed by Canberra (75.7 per cent) and Brisbane (72.6 per cent). Perth recorded a preliminary clearance rate of 27.3 per cent, noting only 26 auctions were scheduled this week and 22 results have been collected so far. In Tasmania, 3 of the 7 auctions have been reported so far, with all reporting a successful result.
Sub-region auction statistics (preliminary)
CoreLogic Australia