- Total number of auctions following an upward trend since May 2020
- Number of auctions occurring the week of 29 November substantially higher than pre-Covid times in early 2020
- Despite a recent spike, the auction clearance rate is yet to reach pre-Covid Levels
Data from SQM Research has shown a gradual increase in the number of houses being auctioned each week in Adelaide since Autumn 2020.
The week ending 29 November 2020 for example saw 147 total auctions with a fifth of these clearing.
This was a higher number of total auctions compared to any week in early 2020 such as 15 March 2020 when there were 103 total auctions and substantially higher compared to the week ending 26 April 2020 when there were only nine total auctions.
There also seemed to be a last-minute auction rush prior to Christmas with 139 auctions occurring the week ending December 20th.
The overwhelming majority of auctions have been for typical three and four-bedroom houses.
However, the same data shows that despite a recent spike in the auction clearance rate, the rate itself has not got anywhere near the pre-Covid levels seen in early 2020.
Since March 2020, the clearance rate has not reached 40 percent. Even during the auction bonanza last month, the clearance rate mostly hovered around the 20 per cent mark.
Notably, last week did see an outlier; a clearance rate of 38.1 per cent, but only 21 auctions.
Time will tell whether the clearance rate will hit 40 per cent again.
Click here to view more auction clearance results for Adelaide.
