- Total auctions down
- Clearance declines
- Withdrawals rise
Across the combined capitals, 3,276 homes were taken to auction this week. This is down from the previous week (3,546) but overtakes the week prior as the third busiest of the year. With auction volumes remaining high, the clearance rate has declined steadily over the past few weeks.
From the 611 auctions that occurred this time last year. With 1,127 results recorded so far, Melbourne reported its lowest preliminary clearance rate since mid-September.
Sydney had its busiest auction week since March. With 1,046 results recorded so far, Sydney saw a preliminary clearance rate of 75.9%, down slightly from last week. Since restrictions lifted across Sydney on the 11th of October, weekly volumes have increased by nearly 50% while clearance rates have steadily declined and the withdrawal rate has risen.
In the smaller auction markets, Canberra recorded the highest preliminary clearance rate at 91.4%, followed by Adelaide (85.8%) and Brisbane (84.7%).
Watch the most comprehensive and up-to-date report on auction activity around Australia with CoreLogic’s Eliza Owen, exclusively on Realty Talk. See all our shows at Realty.com.au