- Auction rates expected to rise next by 4.8% next Saturday, as sellers gear up for Christmas
- Despite steady weekly growth in the last few weeks, auction volumes have fallen by more than 30% in the past year
- All capital cities except Sydney have recorded weekly growth in clearance rates, with Brisbane up the furthest
The countdown to the most wonderful time of the year is underway, bringing with it a rise in auction volumes as sellers hope to seal a deal before Christmas.
Scheduled auctions for this coming Saturday are up by 4.8% since last week, reaching the highest volume since June with 1,974 auctions.
Auction listings have increased in all cities except Sydney and Brisbane, with clearance rates also trending upwards in most cities.
The beginning of December will mark the fifth consecutive week of auction volume growth, a pattern not seen since November last year.
Auction volumes have decreased significantly since last year however, a 33.8% fall reflective of the cooling market conditions seen across the board.
Upcoming auction summary – 3 December 2022
| City | Volume | Change in Auction Volume | ||
| Weekly | Annual | 5-year average | ||
| Sydney | 674 | -11.9% | -40.1% | -21.8% |
| Melbourne | 989 | 18.4% | -31.4% | -15.5% |
| Brisbane | 74 | -12.9% | -43.9% | -27.5% |
| Adelaide | 128 | 28.0% | -26.0% | 32.2% |
| Canberra | 96 | 10.3% | 1.1% | 23.7% |
| Perth | 10 | – | – | – |
| Darwin | 2 | – | – | – |
| Hobart | 1 | – | – | – |
| Combined Capitals | 1974 | 4.8% | -33.8% | -15.6% |
Source: Domain
As for last Saturday’s auction results, the combined capitals clearance rate has reached its highest level since April at 61.1%.
According to Domain, an increased clearance rate and steadily climbing auction volumes indicate buyers and sellers are beginning to see eye to eye after a few slow winter months.
Saturday auction results – 26 November 2022
| City | Clearance rate | Weekly change | Annual change | Volume | Auction sold | Sold prior | Withdrawn |
| Sydney | 60.4% | -3.7 ppt | -6.2 ppt | 765 | 400 | 30.4% | 20.5% |
| Melbourne | 61.9% | 6.6. ppt | 0.0 ppt | 835 | 433 | 18.7% | 12.4% |
| Brisbane | 51.9% | 17.2 ppt | -14.7 ppt | 85 | 27 | 21.2% | 9.6% |
| Adelaide | 71.1% | 15.7 ppt | 7.6 ppt | 100 | 54 | 18.4% | 10.5% |
| Canberra | 55.7% | 10.5 ppt | -20.6 ppt | 87 | 39 | 22.9% | 10.0% |
| Combined Capitals | 61.1% | 4.2 ppt | -2.9 ppt | 1883 | 955 | 23.9% | 15.6% |
Source: Domain
Capital city breakdown
Sydney auctions
Sydney was the only capital city to see a decline in its clearance rate, down 3.7 percentage points to 60.4%. The capital has kept its clearance above 60% for two consecutive weeks, though last week’s figure represented a 6.2% decline annually.
Melbourne auctions
Melbourne recorded its largest weekly clearance rate increase since April, with a jump of 6.6 percentage points to 61.9%. The city’s clearance rate has remained relatively steady over the past year, indicative of a stable market.
Adelaide auctions
Adelaide’s clearance rate jumped by 15.7 percentage points to 71.1% last week, cementing its place as the only capital to record an annual increase. Despite this, withdrawal rates in Adelaide were at their highest since April at 10.5%, which suggests seller confidence is wavering.
Brisbane auctions
Brisbane recorded the highest weekly clearance rate rise of any capital, increasing by 17.2 percentage points to reach 51.9%. The city continues to trail behind the rest of the nation with the weakest clearance rate, however.
Canberra auctions
Canberra’s clearance rate rose by 10.5 percentage points to reach 55.7%. The city recorded the largest annual fall however, down by 20.6 percentage points.
