15 Feb

• Nervous sellers withdraw
  
• Almost half sell prior
  
• No stopping Canberra

There were 1,529 scheduled auctions across the combined capital cities this week, up from 1,304 over the previous week. Of the 1,191 results collected so far, 86.1 per cent have reported a successful result, higher than last week’s preliminary auction clearance rate of 83.8 per cent which revised down to 79.3 per cent at final figures. 

While the preliminary clearance rate came in strong, as remaining auctions are collected, CoreLogic reports it will likely collect more withdrawn results, particularly in Melbourne.   Preliminary results show that 47.6 per cent of the successful auctions in Melbourne were sold prior while, so far, just 8 per cent have been reported as withdrawn which will likely increase now the city is back in a stage 4 lockdown.  

In Sydney, 624 homes were taken to auction with the preliminary clearance rate coming in at 87.5 per cent.  

Across the smaller cities, Canberra recorded the highest preliminary clearance rate at 91.2 per cent, followed by Adelaide at 89.5 per cent.

Watch the most comprehensive and up to date report on auction activity around Australia – powered by CoreLogic – with Eliza Owen exclusively on Realty Media’s Real Estate Talk.  See all our shows at Realty.com.au