- 2,845 properties were taken to auction across all capital cities
- Preliminary clearance rate was 78% (last week 79%, revised to 77%)
- Very similar auction clearance rates on similar volumes past few weeks
Auctions across Australian capital cities continued to clear in the high seventy per cents mark, which is how they have been performing over the past few weeks.
Last week 2,845 properties went under the hammer, compared to 2,905 last week and 3,016 the week before. On their first pass of the data, CoreLogic calculated an auction clearance rate of 78.2% (as compared to last week’s 79% and the week before 78.6%).
The final numbers are likely to be a couple of per cent down on these preliminary numbers, once all the results are in.
This time last year, amid strict pandemic lockdowns, only 612 properties were auction in the combined capital cities.
Weekly Clearance Rate, combined capital cities
Across the capitals
- Sydney held 1,111 auctions, clearing at 80%
- Melbourne: 1,286, 77.6%
- Adelaide: 158, 79.6%
- Brisbane: 147, 63.6%
- Canberra: 117, 86.5%
- Perth: 23, 68.8%
The Real Estate Institute of Victoria (REIV) announces its auction clearance rates separately, and their numbers for Melbourne slightly differ:
- Melbourne: 932 auctions, with 81% clearance rate
REIV sources its data from its own members, so their numbers will be less as not every real estate agent in the state is an REIV member.
However, the clearance rate result is similar, and again, compared to the previous week, as reported by REIV, at 82%, shows there has not been much change in the rate of auction success.
Meanwhile, SQM Research plots its own auction data, dating back to February 2020. For Victoria, they had 1,362 auctions the week before last, at a clearance rate of 60.7%, which has been stable for a few months, and back to where it was pre-pandemic in February 2020.
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* Note: A minimum sample size of 10 results is required to report a clearance rate, for CoreLogic calculations.
