- • Combined capital preliminary clearance rate of 69.4 percent (final clearance rate last week 66.2 percent)
- • Auction volumes lower with 953 properties taken to auction (down from 2782 last week)
- • 12 months ago, 872 were auctions held with a combined clearance rate of 75.8 percent
National auction clearance results for the week ending 01/10/2017 courtesy of CoreLogic
Despite lower auction volumes, clearance rates held firm, returning a preliminary result of 69.4 percent, rising from the 66.2 percent last week when final results saw volumes reach their highest level since May this year (2,782). Melbourne was the main driver of the strong clearance, with a preliminary result just under 90 percent. Over the same week last year, activity was equally subdued, with 872 auctions held and 75.8 percent successful. Brisbane was the only capital city to see a rise in volumes week-on-week.
Melbourne saw the most significant drop in volumes this week, with only 118 auctions held. With such a low volume of auctions held, the preliminary auction clearance rate bounced higher to reach 89.4 percent, rising on last week’s 70.6 percent across a much higher 1,361 auctions. While one year ago, 114 auctions were held and an 87.2 percent clearance rate was recorded. The busiest sub-region this week was Melbourne’s West, despite the grand finals slowdown the region recorded a preliminary auction clearance rate of 92.0 percent across the highest volume of auctions (32).
In Sydney, 597 auctions were held this week, down from 1,033 over the previous week, however higher than the 530 auctions held over the corresponding week last year. The preliminary clearance rate of 69.1 percent is up from the 65.9 percent last week, and lower than the 82.5 percent one year ago. Across the Sydney sub-regions, the Northern Beaches region recorded the highest rate of clearance with 87.0 percent of the 64 auctions clearing, while the Northern Sydney and Hornsby region held the most auctions (79).
Brisbane’s preliminary auction clearance rate this week was 48.3 percent, down slightly from 48.7 percent the week prior. Auction volumes increased week-on-week, with 140 auctions held, up from the 126 last week and higher than the 115 one year ago when 43.8 percent cleared. Across the Gold Coast, 25.9 percent of the 27 reported auctions were successful.
A total of 40 Adelaide homes were taken to auction this week, recording a preliminary auction clearance rate of 79.3 percent across 29 results, up from 75.7 percent over the same week last year when 45 auctions were held across the city.
In Perth, only 13 auctions were held this week, recording a preliminary clearance rate of 75.0 percent across 8 results, which is higher than both last week’s result (28.2 percent) and the clearance rate from one year ago (45.5 percent), however volumes were lower this week.
Across Canberra a total of 44 auctions were held this week, compared to 86 last week and 49 at the same time last year. Canberra’s preliminary clearance rate of 75.7 percent is higher than it was the previous week (67.9 percent).
Tasmania saw 1 auction take place this week, which sold.
Preliminary clearance rates in each state courtesy of CoreLogic (as at 9am EST 01/10/2017):
- Sydney – 69.1% clearance, 597 total auctions, 447 results reported, 309 cleared, 138 uncleared
- Melbourne – 89.4% clearance, 118 total auctions, 85 results reported, 76 cleared, 9 uncleared
- Brisbane – 48.3% clearance, 140 total auctions, 87 results reported, 42 cleared, 45 uncleared
- Adelaide – 79.3% clearance, 40 total auctions, 29 results reported, 23 cleared, 6 uncleared
- Perth – 75% clearance, 13 total auctions, 8 results reported, 6 cleared, 2 uncleared
- Tasmania – 100% clearance, 1 total auctions, 1 results reported, 1 cleared, 0 uncleared
- Canberra – 75.7% clearance, 44 total auctions, 37 results reported, 28 cleared, 9 uncleared
Combined national preliminary result – 69.9% clearance, 953 total auctions (694 reported, 485 cleared). Weighted average clearance rate 69.4%
Last week’s preliminary results as reported are here
The above results are preliminary, with ‘final’ auction clearance rates published each Thursday by CoreLogic. CoreLogic, on average, collects between 85% and 90% of auction results each week. Clearance rates are calculated across properties that have been taken to auction over the past week.
