Auction house clearance rates
Less auctions took place, but clearances were almost 80% across capital cities. Photo – Canva.
  • Public holidays reduced the number, but the auction clearance rates stayed high
  • Melbourne’s (preliminary) clearance rate was 80.9%, Sydney's was 86.7%
  • A year ago, these rates were 10% to 20% lower than now

Capital city clearance rates for auctions this weekend remained at high levels, albeit on 35% lower numbers overall than the week before.

According to CoreLogic’s preliminary auction results data, 84.7% of homes under the hammer sold, either at the auction or prior. This was an improvement on the 81.9% rate the week earlier.

Those figures were revised downwards to 79.3%, so expect the 84.7% to be refined lower by week’s end.

Weekly Clearance Rate, Combined Capital Cities

Auction clearance rates
Auction clearance rates. Source – CoreLogic.

The lower number of auctions was mainly to do with public holidays in four state and territories. In Melbourne for example, only 477 homes were up to auction, whereas 1,299 were held a week ago.

Melbourne’s (preliminary) clearance rate was 80.9%, whereas last week’s final rate was 76.4%. A year ago, on the cusp of the first pandemic lockdown, it had been 66%.

Capital City Auction Statistics (Preliminary)

auction clearance table mar7
Capital Cities. Source – CoreLogic.

Over in Sydney, auctions cleared at a very healthy 86.7% on first evidence, out of 812 homes sent under the hammer. A week ago, 85% cleared, and a year ago, 75% did.

Around the nation, Canberra continued a hot run with 91.5% clearance, Brisbane had 82.3%, Adelaide 81.7% and Perth 81.8%.

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