Auction house clearance rates
Less auctions took place, but clearances were almost 80% across capital cities. Photo – Canva.
  • 2,892 properties were taken to auction across all capital cities
  • Preliminary clearance rate was 79%
  • Previous week 3,016 cleared at 78.6% (preliminary) and 77.2% (final)

Auction volumes were down slightly last week compared to the week before with 2,892 homes taken to auction across all Australian capital cities.

Preliminary results – which are usually revised downwards after all the data is in – show that of the 2,454 results collected so far, 79% were successful.

By comparison, the previous week saw more homes (3,016) put under the hammer, returning a preliminary auction clearance rate of 78.6%, which was later revised down to 77.2%.

This time last year amidst the COVID-19 restrictions, only 417 homes were taken to auction, with 60.4% recording a sale.

Capital city auction results (preliminary), Week of 16 May 2021

Auctions 16 May 2021
Source: CoreLogic

 

Auctions 16 May 2021 Chart
Source: CoreLogic

When you look at trends, the auctions are still clearing very nicely compared to pre-pandemic, and even the years that preceded it.

Across the regions, there was a varied story, but with relatively high levels, in the 70% through to 90%’s…

Sub-region auction results (preliminary), Week of 16 May 2021

Sub-Regions Auctions 16 May 2021
Source: CoreLogic

 

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