Business Daily Media

Business Marketing


Preliminary clearance rates dip as capital city auction activity rises

  • Written by Kaytlin Ezzy, Economist, CoreLogic

With the spring selling season just around the corner, auction activity rose above the 2,000 mark for the first time in nine weeks, with 2,018 homes auctioned across the combined capitals this week. Rising for the fourth consecutive week, this week’s auction activity is up 10.8% compared to last week (1,816) and is 3.0% above the number of auctions held this time last year (1,960). The increase in auction activity saw preliminary clearance rates dip after holding above 60% for the past two weeks. Of the 1,522 results collected so far, 59.1% returned a successful result, down 3.5 percentage points from last week’s preliminary rate (62.6%, revised to 58.8% at final figures) but 1.1 percentage points above the clearance rate recorded this time last year (58.0%).

Across Sydney, this week’s auction activity was up 23.8% compared to the previous week (639) and 33.6% higher than this time last year (592), with 791 homes auctioned across the city (the highest volume of auctions held since late June). With 591 results collected so far, Sydney recorded its lowest clearance rate in three weeks (56.9%), and highest withdrawal rate in eight weeks (25.4%). A preliminary rate of 63.4% was recorded the previous week, later revised to 59.1% at final figures, while this time last year 80.2% of auctions returned a successful result.

With 829 homes auctioned across the city, Melbourne hosted the most auctions of any capital city this week. While this week’s auction activity is up 6.4% compared to the 779 auctions held the week prior, it is -10.7% below the number of auctions held this time last year (928). With 61.3% of the 684 auction results collected so far returning a positive result, Melbourne’s preliminary clearance rate fell 3.7 percentage points this week. The previous week recorded a preliminary clearance rate of 64.9%, revised to 60.8% at final figures, while this time last year 35.9% of auctions were successful, dragged lower amid Melbourne’s sixth lockdown.

Auction activity held steady across the smaller capitals this week, with auction volumes rising across Adelaide (12.1%) and Perth (53.3%) but falling across Canberra (-13.7%), and Brisbane (-5.2%). Brisbane recorded both the busiest week and the lowest preliminary clearance rate, with 41.6% of the 145 auctions held returning a successful result. Adelaide hosted 139 auctions and recorded a preliminary clearance rate of 78.0%, while 62.7% of the 88 auctions held in Canberra sold under the hammer. Results for 14 of the 23 auctions held in Perth have been collected so far, six returned a successful result, while just one of the three auctions held in Tasmania this week was successful.  


Brisbane Apartment and Unit Investment Still Lackluster

In the midst of the Brisbane boom, where houses and townhouses are snapped up minutes after hitting the market, at record sale prices, apartments and unit sale remain sluggish. Even in t...

Business Daily Media - avatar Business Daily Media

Perth Shines Brightly as Property Hotspot Amid Western Australia's Economic Boom

Perth's property market is riding an unprecedented wave, fueled by robust economic growth, surging population numbers, and an exceptionally tight rental market across Western Australia. As...

Business Daily Media - avatar Business Daily Media

Sydney Rain Bombs Could Be On The Increase

Motorway closures, forced evacuations, and flooding – Sydney has seen it all, including the recent weather event that has been dubbed the Taylor Swift Rain Bomb. Don't worry, nobody is bla...

Joe Rantino - avatar Joe Rantino

The Rising $10,000 Problem for Queensland Homeowners

When it comes to termites, sharing a home with thousands of invasive creepy crawlies isn’t a Queensland homeowner’s only worry. A recent report released by the University of Technology Syd...

Keith Jacobs - avatar Keith Jacobs

A Complete Guide To Buying Commercial Property: Applying For a Loan

Commercial property loans are an excellent way for businesses to finance the purchase of a new property. Whether you’re expanding an existing busi...


Combined capitals preliminary clearance rate below 60% for sixth consecutive week

After trending lower for three consecutive weeks, auction activity rose slightly this week, with 1,667 homes taken to auction across the combined ...


Creating an Inviting Office Space for Your Employees

As the workplace continues to evolve, employers are looking for ways to create an inviting office space for their employees. By creating a space that ...

Business Training

Top 6 Factors That Influence Land Valuation

Valuation of and is done to determine its value based on various factors. The valuation is carried out using sales, income, cost, and market data...


How to Get Your Business Found Online

Nowadays, getting your business out there means leaving digital footprints online ‘large’ enough so your customers can see and hopefully click and...

Business Training

6 reasons why real estate is the safest long-term investment

An astonishing fact is that ninety percent of millionaires are getting rich by investing in Real Estate. Real estate provides the most reliable pl...