This week’s CoreLogic Property Market update

Auction volumes more than doubled week-on-week across the combined capital cities.

Auction volumes increased significantly over the week with 1,991 homes taken to auction across the combined capital cities, up from just 904 last week when auction volumes were lower due to the Queen’s Birthday long weekend.

auction buy property bid sell house sale

The preliminary clearance rate was recorded at 56.9 per cent this week, after last week saw the final clearance rate revise down to just 53.8 per cent, the lowest level recorded across the combined capitals since 2012.

Melbourne was the busiest city for auctions this week, with 988 homes going under the hammer, returning a preliminary clearance rate of 58.7 per cent, compared to last week when 54.9 per cent of the 275 auctions were successful.

Over the same week last year, there were 1,129 auctions held in Melbourne, returning a clearance rate of 71.0 per cent.

There were 701 auctions held in Sydney this week returning a preliminary auction clearance rate of 55.8 per cent.

In comparison, last week there were just 415 auctions held and a final clearance rate of 56.0 per cent, while this time last year, 68.0 per cent of the 927 auctions held were successful.

Auction 1Auction 2

Auction 3Auction 4Auction 5Auction 6

Auction 7Auction 8Auction 9

Auction 10Auction 11Auction 12Auction 13Auction 14Auction 15

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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


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