Auction Clearances 12Sep21
Auctions continue to clear well in Sydney and Adelaide, and improving in Melbourne. Image – Canva/CoreLogic
  • The auction clearance for Melbourne bounced back to 30.7%, according to SQM
  • Sydney's clearance rate was up to 70.1% (SQM) and 83.8% (CoreLogic)
  • Adelaide continues to record the highest auction rates, with an 88.1% clearance rate

After plunging as low as 16.6% two weeks ago – the lowest in a year – the auction clearance for Melbourne bounced back to 30.7% last week, according to SQM Research.

CoreLogic, which calculates clearance rates in a different manner to SQM, recorded the Victorian capital auction rate at 54.5% last week, its highest since mid-August.

Melbourne’s tough no property inspections lockdown had been blamed for the continued drag on auction results.

Meanwhile, Sydney’s clearance rate was up at a healthy 70.1% last week, according to SQM, or 83.8% (CoreLogic).

Sydney

Despite the extended lockdown, news of openings and a way out of the pandemic helped keep Sydney’s auction market ticking along.

SQM had the harbour city’s clearance rate hovering around 70% over the past month, while CoreLogic had it in the 80%s.

Melbourne

In Melbourne, 527 properties were taken to auction last week according to SQM, well down from the 1,500 or so a week seen just three weeks ago. In such a tough environment, many properties otherwise up for auction are waiting it out, it would seem.

Elsewhere…

Adelaide continues to record the highest auction rates in the land for a capital city mark, with an 88.1% clearance rate last week, according to CoreLogic.

Capital Cities auction results: week ending 12 Sept 2021

Auctions 12Sep21
Source: CoreLogic
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