Auction Busiest since Easter18
Auctions clearance rates tipping up and up. Source – CoreLogic
  • 3,371 homes were taken to auction last week, the busiest auction week since just before Easter 2018
  • In Sydney, 89.9% of the 1,899 auctions cleared (up from 1,025 last week and a 85% final clearance rate)
  • In Melbourne, 83.8% of the 1,392 auctions cleared (up from 1,322 last week and a 78.8% final clearance rate)

Last week, 3,371 homes were taken to auction across the capital cities, the busiest auction week since just before Easter 2018, according to CoreLogic data.

Last week, there were 2,710 auctions, while for the same week last year – the first full week of lockdown – there were 3,289.

As had been predicted, increased stock is now hitting the market, with auction season in full swing. From an initial (preliminary) count, 84.4% of last week’s auctions sold, up from the week before preliminary clearance rate of 82%.

For the same week last year, not surprisingly, given the lockdowns had just come into effect, the auction clearance rate had collapsed to 37.3% amid withdrawals due to the pandemic. More than half were withdrawn a year ago, in stark contrast to last week when only 4% were taken off the market.

Capital City Auction Statistics (Preliminary)

Auctions Cities
Source: CoreLogic

Around the capitals

  • Melbourne – saw 1,899 auctions with 83.8% successful, on preliminary data (up from 1,322 last week at a final clearance of 78.8%;
  • Sydney – 1,392 auctions, with 89.9% cleared (up from 1,025 last week and a 85% final clearance rate);
  • Canberra – 86.3% of auctions cleared (preliminary data)
  • Adelaide – 73.9%

With the Easter long weekend almost upon us, CoreLogic has counted 880 auctions coming up, compared to 634 taken to auction over the Easter period last year.

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