Weekly Clearance Rate, Combined Capital Cities
Weekly Clearance Rate, Combined Capital Cities. Source: CoreLogic
  • For seventh week in a row, house auctions across the country are clearing above 80%
  • Sydney has been clearing all auctions above 80% for six weeks in a row
  • Next week looks set for a bumper auction period, with 2,700 under the hammer

After last weekend’s public holidays, the most recent week’s auctions roared back into life around Australia’s capital cities, with 2,232 of them held (up from 1,587 last week), according to CoreLogic.

Continuing on the high clearance rates of 2021, the average clearance rate across the capitals was 83.2% (preliminary data), just slightly under last week’s of 84.5% (which ended up at 80% once all the data was in).

Capital City Auction Statistics (Preliminary), Week Ending 14 March 2021

Auction capitals
Source: CoreLogic

Across the country, house auctions are clearing at above 80% by auction, for seven consecutive weeks. Units are clearing at around 70% in 2021.

  • Melbourne: cleared 80.3% of its 1,094 auctions held last week, as compared to only 75.2% clearing the week before, and 65.6% a year earlier
  • Sydney: cleared 87.4% of its auctions, with 817 going under the hammer, which could mean six weeks in a row of 80% clearance rates once all the data is in. Last week, Sydney’s rate was 82.9%, and a year ago 68.1%.
  • Canberra: preliminary data showed a 95% clearance rate.
  • Adelaide: 87.9% clearance
  • Brisbane: 65.2% clearance
  • Perth: holds fewer auctions (only 17)
  • Tasmania: held just one

In the regions, most Sydney sub-regions had clearance rates in the 90%’s or high 80%’s, whereas Melbourne districts were in the high 70%’s or mid 80%’s.

Sub-regions Auction Statistics (Preliminary), 14 March 2021

Auction sub regions
Source: CoreLogic

Next week looks like being a big one in the auction market, with CoreLogic tracking 2,700 already scheduled.



You May Also Like

‘Plenty of buyer interest’ as auction clearance rates hold above 70%

Auction clearance rates have been drifting lower, but there are still plenty of eager buyers buoyed by rising prices.

Auction activity and clearance rates on the rise

Auction activity is on the rise with clearance rates, registered bidders and attendances starting to increase along the east coast.

Clearance rates high but sellers still playing the waiting game: Domain

The expected monthly lift in auction volumes and clearance rates, after a lull in January, occurred in all capitals.

Saturday no longer best auction day

A weekday may be the best time to host an auction, suggests Justin Nickerson

Top Articles

PropertyGuru Asia Property Awards (Australia) returns for its 7th edition, including several brand new award ...

This year's awards include several brand new categories, with entries closing 2 August 2024.

Rentvesting in Australia: A deep dive

Rentvesting offers an alternative path into the property market for priced-out first-time buyers.

Housing crisis survival guide: How to buy your first Australian property

Three property experts give the low down on how to nab a home in this tough housing market.