Auction clearance rates continued to climb | CoreLogic Quarterly Auction Market

Auction clearance rates continued to climb over June quarter.

Auction PropertyCoreLogic recorded a strengthening trend in auction clearance rates over the June quarter – the last time the result was this strong was back in June 2018.

Clearance rates across Melbourne, Australia’s largest auction market, showed an increase over the June quarter while Sydney’s clearance rate has outperformed both the previous quarter and the June 2018 quarter.

Capital city June quarter auction clearance rate & volumes:

  • Sydney 59.1 % (6,776 auctions);
  • Melbourne 59.5% (7,838 auctions);
  • Brisbane 32.3 % (1,380 auctions);
  • Adelaide 47.0 % (1082 auctions);
  • Perth 27.4 % (409 auctions);
  • Tasmania 60.0 % (41 auctions);
  • Canberra 50.8 % (578 auctions);
  • Combined capitals 55.5 % (18,104 auctions).

Across the non-capital city markets, clearance rates increased across all five regions tracked over the June quarter with Geelong leading the charge for regional auction markets, returning the highest clearance rate over the quarter (56.4 per cent), while the Gold Coast was the busiest of the regions with 571 homes taken to auction.

ad_build_wealth

Auction results are highly correlated with housing market conditions in Sydney and Melbourne, while other capital cities generally show a much smaller proportion of properties are taken to auction.

The improved trend in auction market results provides further evidence that housing conditions are stabilising, especially in Sydney and Melbourne, where a trend towards higher clearance rates has been most pronounced.

Over the 3 months to June 2019, the clearance rate across the combined capital cities came in at 55.5 per cent across 18,104 auctions, the strongest quarterly clearance rate since the June quarter last year.

By comparison, the previous quarter saw fewer auctions and a lower clearance rate (49.9 per cent across 14,647 auctions), although the March quarter is  traditionally quieter due to the seasonal slowdown in January, so lower volumes is not that surprising.

The weekly trend in clearance rates also improved, with clearance rates holding above 50 per cent for 11 of the 13 weeks.

Across the last 3 weeks of the quarter, clearance rates sat above 60.0 per cent.

It will be interesting to see if this continues.

Highest number of auctions for the quarter across capital city suburbs.

(Note: Based on total auctions held across the suburb over the reporting period)

A1

Despite an improvement in capital city clearance rates, auction volumes are down -30% from the June 2018 quarter when 25,824 homes were taken to auction.

The combined capital city clearance rate over the June 2018 quarter was also slightly stronger with 57.8 per cent of auctions recording a successful result.

Highest clearance rate for June 2019 quarter x capital city suburbs

(Note: excludes suburbs with fewer than 20 auctions results reported over the quarter).

  • Sydney: Lane Cove 91.7% (captured results: 24, scheduled auctions: 32, number sold: 22).Auction results
  • Melbourne: Armadale 85.7% (captured results: 28, scheduled auctions: 33, number sold: 24).
  • Brisbane: Camp Hill 48.0% (captured results: 25, scheduled auctions: 26, number sold: 12).

Ends. For further information contact us at: [email protected] or on 1300 472 767.

Auction Market Review Highlights

A2

Quarterly summary, capital cities

A3

Weekly clearance rate and volume of auctions, combined capital cities

A4

Quarterly summary, regional

A5

Capital city key statistics

A6

A8

Capital city sub-regions (Sydney)

Sub-region Clearance rate (Jun Qtr ’19) Total auctions (Jun Qtr ’19) Clearance rate (Mar Qtr ’19) Total auctions (Mar Qtr ’19) Clearance rate (Jun Qtr ’18) Total auctions (Jun Qtr ’18)
Central Coast 36.0% 303 34.8% 242 45.4% 341
Baulkham Hills and Hawkesbury 55.2% 203 44.6% 156 49.1% 314
Blacktown 43.5% 146 46.1% 102 35.1% 176
City and Inner South 66.8% 760 58.2% 562 62.6% 1,056
Eastern Suburbs 61.6% 865 56.6% 832 65.1% 1,195
Inner South West 56.8% 661 48.0% 517 49.8% 1,029
Inner West 66.2% 582 60.0% 397 60.2% 770
North Sydney and Hornsby 64.4% 1,054 62.0% 839 65.4% 1,419
Northern Beaches 63.0% 615 53.2% 537 62.7% 764
Outer South West 42.4% 67 41.7% 41 37.1% 96
Outer West and Blue Mountains 40.0% 95 30.0% 40 36.9% 80
Parramatta 51.0% 396 47.8% 274 38.0% 610
Ryde 66.9% 364 61.9% 275 61.2% 492
South West 55.6% 310 37.7% 175 41.0% 423
Sutherland 49.4% 306 43.0% 254 49.7% 502

Capital city sub-regions (Melbourne)

Sub-region Clearance rate (Jun Qtr ’19) Total auctions (Jun Qtr ’19) Clearance rate (Mar Qtr ’19) Total auctions (Mar Qtr ’19) Clearance rate (Jun Qtr ’18) Total auctions (Jun Qtr ’18)
Inner 61.4% 1,537 54.5% 1,288 65.1% 2,198
Inner East 65.7% 869 57.0% 767 56.4% 1,377
Inner South 62.7% 1,239 53.9% 1,039 61.5% 1,635
North East 57.5% 927 49.7% 651 62.6% 1,538
North West 59.4% 727 50.8% 616 65.1% 1,179
Outer East 62.6% 498 52.1% 421 58.5% 897
South East 56.5% 810 50.7% 626 56.4% 1,226
West 53.0% 974 44.4% 739 61.4% 1,808
Mornington Peninsula 49.8% 236 44.5% 213 56.4% 445

Suburb results (city by city)

Sydney

Suburb Clearance rate (Jun Qtr 19) Total auctions (Jun Qtr 19)
Alexandria 80.8% 29
Annandale 84.0% 26
Ashfield 60.5% 39
Avalon Beach 54.5% 52
Balgowlah 71.4% 37
Balmain 83.3% 32
Baulkham Hills 74.3% 48
Beecroft 69.2% 30
Bellevue Hill 66.7% 54
Bexley 66.7% 33
Blacktown 52.9% 45
Bondi 61.1% 42
Bondi Beach 77.1% 42
Bondi Junction 54.5% 60
Bossley Park 70.0% 22
Botany 60.6% 40
Bronte 72.7% 25
Camperdown 81.3% 33
Carlingford 73.1% 33
Castle Hill 57.1% 46
Chatswood 73.3% 60
Clovelly 54.5% 29
Concord 52.2% 25
Coogee 77.5% 51
Cremorne 74.4% 41
Cronulla 40.0% 37
Croydon Park 69.6% 23
Darlinghurst 76.0% 32
Dee Why 74.4% 46
Double Bay 52.4% 23
Drummoyne 50.0% 38
Dulwich Hill 68.0% 27
Earlwood 53.8% 37
Eastwood 67.7% 41
Epping 66.7% 48
Erskineville 80.0% 23
Fairlight 61.9% 24
Five Dock 42.3% 28
Freshwater 66.7% 27
Gladesville 81.0% 24
Gordon 52.4% 24
Greenacre 70.4% 29
Hornsby 66.7% 22
Kingsford 52.2% 28
Kingsgrove 57.1% 22
Lane Cove 91.7% 32
Lane Cove North 81.1% 53
Leichhardt 88.9% 44
Lilyfield 70.8% 29
Manly 74.4% 42
Maroubra 51.8% 71
Marrickville 72.7% 73
Marsfield 70.0% 28
Mascot 68.0% 28
Mona Vale 57.1% 30
Mosman 67.2% 76
Neutral Bay 67.7% 34
Newport 56.5% 26
Newtown 80.0% 37
North Bondi 71.0% 36
North Ryde 70.0% 24
North Sydney 61.5% 29
Oatley 70.0% 23
Paddington 75.6% 49
Parramatta 29.4% 37
Petersham 70.8% 25
Potts Point 54.2% 33
Pymble 66.7% 24
Pyrmont 50.0% 27
Randwick 57.1% 55
Redfern 74.4% 46
Revesby 60.0% 21
Rose Bay 64.3% 38
Rosebery 52.4% 25
Roseville 45.8% 30
Rozelle 52.4% 30
Ryde 62.9% 51
Sans Souci 44.0% 29
St Ives 60.0% 61
Stanmore 69.6% 25
Strathfield 74.4% 42
Surry Hills 64.2% 71
Terrigal 30.4% 27
Turramurra 66.7% 44
Vaucluse 59.1% 38
Wahroonga 53.6% 39
Willoughby 63.6% 22
Wollstonecraft 56.5% 26
Woollahra 61.9% 49

Melbourne

Suburb Clearance rate (Jun Qtr 19) Total auctions (Jun Qtr 19)
Abbotsford 50.0% 29
Airport West 52.0% 28
Albert Park 59.1% 23
Altona North 48.3% 36
Armadale 85.7% 33
Ascot Vale 42.0% 57
Avondale Heights 46.2% 29
Balwyn 71.4% 24
Balwyn North 66.7% 31
Beaumaris 63.6% 31
Bentleigh 66.2% 79
Bentleigh East 65.6% 111
Blackburn 57.9% 41
Blackburn South 71.4% 24
Box Hill 60.0% 25
Box Hill North 68.8% 37
B righto n 60.0% 74
B righto n East 43.2% 49
Broadmeadows 40.7% 29
Brunswick 55.9% 68
Brunswick East 73.1% 31
Bulleen 57.7% 31
Bundoora 65.1% 45
Burwood 70.0% 26
Burwood East 64.7% 43
Carnegie 58.1% 47
Caroline Springs 52.2% 24
Caulfield North 69.0% 53
Caulfield South 80.8% 36
Chadstone 50.0% 29
Cheltenham 68.5% 66
Clayton 51.7% 35
Clayton South 36.7% 33
Clifton Hill 81.0% 26
Coburg 67.9% 62
Collingwood 80.0% 24
Craigieburn 61.6% 103
Croydon 46.2% 29
Dandenong 40.0% 26
Doncaster 59.6% 55
Doncaster East 66.7% 62
Donvale 71.4% 26
Elsternwick 74.2% 35
Elwood 58.8% 59
Epping 50.8% 69
Essendon 62.5% 51
Fawkner 65.4% 30
Ferntree Gully 63.0% 50
Fitzroy 83.3% 31
Fitzroy North 65.0% 25
Flemington 54.5% 24
Footscray 51.4% 46
Frankston 46.7% 30
Glen Iris 70.5% 70
Glen Waverley 70.1% 105
Glenroy 59.2% 85
Greensborough 62.9% 44
Greenvale 62.5% 28
Hadfield 56.5% 25
Hampton 61.8% 40
Hawthorn 63.4% 45
Hawthorn East 81.1% 40
Heidelberg Heights 50.0% 23
Highett 74.1% 35
Hillside 50.0% 28
Hoppers Crossing 37.5% 27
Ivanhoe 54.5% 24
Preston 68.5% 82
Reservoir 52.1% 132
Richmond 55.4% 90
Rowville 50.0% 25
Roxburgh Park 64.5% 32
Seddon 52.2% 25
South Melbourne 60.9% 28
South M o rang 65.9% 49
South Yarra 77.1% 58
Southbank 41.9% 32
St Albans 46.2% 44
St Kilda 56.3% 83
St Kilda East 63.3% 64
Strathmore 58.1% 33
Sunshine North 56.7% 31
Sunshine West 52.0% 27
Surrey Hills 62.5% 36
Sydenham 75.0% 28
Taylors Hill 55.6% 28
Templestowe 64.3% 33
Templestowe Lower 47.8% 27
Thomastown 54.0% 53
Thornbury 68.3% 47
Toorak 57.7% 32
Tullamarine 45.8% 28
Wantirna 73.1% 32
Wantirna South 58.1% 34
Werribee 32.3% 36
West Footscray 50.0% 20
Wheelers Hill 75.0% 35
Williamstown 60.5% 52
Wollert 28.6% 23
Yarraville 49.1% 59
Keilor East 70.3% 42
Kensington 65.6% 41
Kew 77.1% 58
Keysborough 54.8% 31
Lalor 59.2% 50
Maidstone 64.0% 31
Malvern 64.3% 30
Malvern East 58.2% 65
Maribyrnong 43.8% 37
Melbourne 43.6% 43
Mentone 70.0% 37
Mernda 42.9% 30
Mill Park 70.4% 75
Mitcham 78.1% 36
Montmo rency 44.0% 30
Moonee Ponds 61.8% 40
Moorabbin 84.0% 27
Mornington 53.6% 33
Mount Waverley 56.5% 117
Mulgrave 65.9% 46
Murrumbeena 54.5% 24
Newport 57.1% 55
Noble Park 56.7% 37
North Melbourne 66.7% 29
Northcote 57.7% 79
Nunawading 59.1% 25
Oakleigh 66.7% 21
Parkdale 50.0% 25
Pascoe Vale 69.2% 58
Pascoe Vale South 45.5% 25
Point Cook 48.7% 47
Port Melbourne 70.2% 58
Prahran 56.8% 54

Brisbane

Suburb Clearance rate (Jun 19) Total auctions (Jun 19)
Camp Hill 48.0% 26
West End 47.6% 23
fact: our markets are on the move
icon-podcast-large

Subscribe & don’t miss a single episode of Michael Yardney’s podcast

Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.

Need help listening to Michael Yardney’s podcast from your phone or tablet?

We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.

icon-email-large

Prefer to subscribe via email?

Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.


Cameron Kusher

About

Cameron Kusher is Corelogic RP Data’s senior research analyst. Cameron has a thorough understanding of the fundamentals such as demographics, trends & economics. Visit www.corelogic.com.au


'Auction clearance rates continued to climb | CoreLogic Quarterly Auction Market' have no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.
CAPTCHA Image

*


facebook
twitter
email