- The auction clearance for Melbourne bounced back to 30.7%, according to SQM
- Sydney's clearance rate was up to 70.1% (SQM) and 83.8% (CoreLogic)
- Adelaide continues to record the highest auction rates, with an 88.1% clearance rate
After plunging as low as 16.6% two weeks ago – the lowest in a year – the auction clearance for Melbourne bounced back to 30.7% last week, according to SQM Research.
CoreLogic, which calculates clearance rates in a different manner to SQM, recorded the Victorian capital auction rate at 54.5% last week, its highest since mid-August.
Melbourne’s tough no property inspections lockdown had been blamed for the continued drag on auction results.
Meanwhile, Sydney’s clearance rate was up at a healthy 70.1% last week, according to SQM, or 83.8% (CoreLogic).
Sydney
Despite the extended lockdown, news of openings and a way out of the pandemic helped keep Sydney’s auction market ticking along.
SQM had the harbour city’s clearance rate hovering around 70% over the past month, while CoreLogic had it in the 80%s.
Melbourne
In Melbourne, 527 properties were taken to auction last week according to SQM, well down from the 1,500 or so a week seen just three weeks ago. In such a tough environment, many properties otherwise up for auction are waiting it out, it would seem.
Elsewhere…
Adelaide continues to record the highest auction rates in the land for a capital city mark, with an 88.1% clearance rate last week, according to CoreLogic.
Capital Cities auction results: week ending 12 Sept 2021
