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