clearance rates ending July 18
Properties are still selling well under the hammer. Source: Canva
  • Despite lockdowns, CoreLogic's clearance rate remained steady
  • SQM Research recorded lower clearance rates across the board
  • Tables comparing SQM's results to CoreLogic, REA Group and Domain

Despite multiple state lockdowns, CoreLogic‘s preliminary auction clearance rate remained relatively steady last week.

According to them, 2,169 homes went to auction across the nation’s capital cities, and of the 1,755 reported so far, 76.3% were successful.

Meanwhile, SQM Research recorded a scheduled 2,699 auctions over the same period.

Out of the major property research houses, SQM Research takes a unique approach to auction clearance rates. Unlike CoreLogic, realestate.com.au, and Domain, SQM accounts for all scheduled auctions published to take place, as opposed to just those confirmed by agents on the day.

Many properties that did not go ahead with their plans were either sold prior, rescheduled, or moved to private treaty sales.

This is why SQM’s auction clearance rates are markedly lower than the other major research houses.

Sydney Auctions, week of 18 July 2021

SQM has taken this approach as they believe there is an underlying practice of under-reporting results that should be brought to light (see comparison tables below).

Comparison of Auction Clearance Rates, week ending 18 July 2021

City CoreLogic Scheduled Auctions CoreLogic Clearance Rate SQM Scheduled Auctions SQM Clearance Rate
Sydney 786 77.1% 1,073 51.6%
Melbourne 1,017 76.4% 1,237 45.6%
Brisbane 160 66.7% 180 21.7%
Adelaide 100 83.1% 108 36.1%
Perth 12 n.a. 13 7.7%
Tasmania 2 n.a. 1 100%
Canberra 92 82.4% 87 79.3%

Source: Adapted and compiled from CoreLogic and SQM Research.

Comparison of Auction Clearance Rates, week ending 18 July 2021

City REA Group Scheduled Auctions REA Group Clearance Rate SQM Scheduled Auctions SQM Clearance Rate
Sydney 794 91% 1,073 51.6%
Melbourne 1,225 90% 1,237 45.6%
Brisbane 286 71% 180 21.7%
Adelaide 111 91% 108 36.1%
Perth 16 80% 13 7.7%
Tasmania 4 50% 1 100%
Canberra 85 92% 87 79.3%

Source: Adapted and compiled from realestate.com.au and SQM Research.

Comparison of Auction Clearance Rates, Saturday 17 July 2021

City Domain Scheduled Auctions Domain Clearance Rate SQM Scheduled Auctions SQM Clearance Rate
Sydney 872 77% 890 53%
Melbourne 1,062 68% 1,157 45.5%
Brisbane 119 78% 131 24.4%
Adelaide 63 85% 72 36.1%
Canberra 64 79% 71 77.5%

Source: Adapted and compiled from Domain and SQM Research.

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