Auction clearance rates
Auctions are hot property right now. Image – Canva.
  • Preliminary data shows very high auction clearance rates around the country
  • 90% of Sydney's auctions sold, the best rate in 24 years
  • More evidence of the galloping real estate market

Preliminary data from CoreLogic, Domain, and the Real Estate Institute of Victoria are showing auction clearance rates of 83% to 96% in Adelaide, 88% to 92% in Sydney and 81% to 85% in Melbourne.

The combined capitals ‘weighted average preliminary clearance rates’ held above 80%, according to CoreLogic.

Auction Clearance Rates 7Feb2021
Auction Clearance Rates, Combined Capital Cities 2011-2021. Source – CoreLogic.

Whatever the final numbers are, these are relatively high, and exceed the rates for the same weekends the year before. Overall, these are the highest clearance rates we’ve seen in six years.

Social media and news sites have been full of photos of lines of (often masked) people from Perth to Melbourne and beyond lining up for home opens or crammed into auctions.

Evidence ‘from the field’ seems to back up statistics we already had showing the Australian market roaring ahead.

Domain described Brisbane’s auction market as “red hot” with “a raft” of multi-million dollar sales recorded over the past few weeks.

Sydney’s clearance rate is the highest since mid 1997, almost twenty four years ago. Some properties that had been left unsold last year were quickly snapped up at the weekend.

Final auction clearance rate numbers should be published later this week.


Before investing in any asset, please do your own independent research, taking into account your own personal financial situation. This article does not purport to provide financial advice. See our Terms of Use.

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.

Thinking of borrowing for a new home? We decode the home loan lingo and explore ...

We take a look at everything from principal and interest to rates and more.

A window of opportunity could be open for savvy Australian property investors, but time is ...

One expert has noticed investors are on the move while there's less competition and fewer buyers in the marketplace.