Auctions action
Auctions are clearing above 80% across capital cities. Image – Canva.
  • 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

Capital City Auction Statistics (Preliminary)
Please note: A minimum sample size of 10 results is required to report a clearance rate. Source – CoreLogic.

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

Weekly Clearance
Source: CoreLogic

Elsewhere, Canberra managed to clear 87% of its auctions, Adelaide did 83%, Brisbane 73% and Perth 50%.

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