- With a long weekend in many states and territories, fewer auctions took place last week
- For those that did go under the hammer, auction clearance rates rose to 77.4% (preliminary)
- Brisbane and Sydney auctions are still strong, having come off a little this year
With a long weekend in many states and territories, fewer auctions took place across the country last week.
Melbourne came out of its extended lockdown, although some restrictions around numbers and social distancing were still in place.
CoreLogic counted 1,426 auctions over the past week, down 47% from 2,688 the week before, although those that were put up did well, with 77.4% succeeding in finding a buyer. These are preliminary numbers, so will probably be adjusted down a peg or two when all the numbers are in.
Preliminary Auction Results, capital cities, 13 June 2021
Adelaide had the highest clearance with 86% across its 88 auctions, followed by Canberra with 82.5% (on its 73 auctions), Sydney with 78.5% (749 auctions), Brisbane 75.5% (130) and Melbourne 73% (365). Perth is not an auction capital, and although it was not a long weekend over West, there were only 21 auctions in total, and most cleared.
It’s a far cry from last year, where total clearance rates around the country were sub 60%.
Although the clearance rate ticked up a bit last week, it has been cooler of late, after its mid 80% highs earlier this year.
According to data collected from SQM Research, Melbourne’s auction rates dropped significantly over the past few weeks:
Meanwhile, according to SQM, Sydney’s auction clearances have remained for most of 2021, albeit with a slight downward trend of late:
Auction clearances in Brisbane have remained around the same level all year, and significantly better than nearly all of 2020: