- Reporting is slow
- COVID causes withdraws
- Withdrawals to worsen
There were 1,202 homes scheduled for auction across the combined capital cities this week, similar to the previous week but higher than this time last year when we saw 847. Of the 672 results that have been reported so far, 62.2 percent were successful.
In Sydney, 538 homes were scheduled for auction this week, we have reported results on 294 showing a success rate of 62.6 percent. There were 475 auctions scheduled in Melbourne this week. Preliminary results show that of the 256 results collected so far, 63.7 percent were successful, while 24.6 percent were reported as withdrawn – compared with 12.2% of Sydney auctions.
Across the smaller capitals, Adelaide (65.5 percent) and Canberra (64.5 percent) were the only capitals to record a clearance rate above 60 percent, with Brisbane reporting a preliminary clearance rate of 52.8 percent and Perth, on a low volume, at 37.5per cent.
We broadcast the most comprehensive and up to date report on auction activity around Australia – powered by CoreLogic – every Friday and Monday exclusively on Realty Media’s Real Estate Talk. See all our shows at Realty.com.au