- Preliminary data showed a 80.5% clearance rate over the past week
- This will be revised downwards, but will end up higher than previous week
- Canberra cleared most of its auctions (87%), Perth the least (50%)
Preliminary auction clearance data from CoreLogic regarding last week’s capital city auctions suggested strong action across the country with 80.5% selling either prior or as the hammer fell.
The 80.5% number will probably be revised downwards two or three per cent in the next few days, once all the numbers are in.
The volume of auctions was up 11% on the previous week to 2,448, post the traditional Easter slowdown. The week prior, the preliminary clearance of 79.4% was later revised down to 76.8%.
SQM Research provided a slightly different number with 68% clearance rate for Sydney in the week of 11 April, 59% for Melbourne and 22% for Brisbane.
Capital City Auction Clearances (Preliminary), Week of 18 April 2021
According to a CoreLogic count, 1,204 homes were taken to auction in Melbourne with a clearance rate of 78%, up from the previous week’s 77%.
Sydney held 913 auctions and cleared 85% of them, which was up from the week before (83%, which was revised down to 81%).
All this is in stark contrast to a year ago, when only a third of Sydney auctions sold at auction in the corresponding week.
Weekly Clearance Rate, Combined Capital Cities
Elsewhere, Canberra managed to clear 87% of its auctions, Adelaide did 83%, Brisbane 73% and Perth 50%.