06 Feb

• Auction numbers improve
• Final numbers highest since May
• Next week looking stronger again

Auction activity continues to increase after the festive slowdown, with 1,306 homes taken to auction across the combined capital cities this week, up 83.9% from last week.

Of the 938 results collected, 67.4% were successful, down just 50 basis points from the previous week’s preliminary clearance rate of 67.9%, which was revised to 61.8% at final figures. This time last year, 72.5% of reported auctions were successful.

Considering final auction clearance rates finished last year around the low 50 % range, it looks like auction markets have reset a little higher through 2023, although clearance rates remain well below long-term average levels.

Watch a comprehensive wrap on the week’s national auction activity with Eliza Owen from CoreLogic.   Auction Update is seen exclusively on Realty Talk.  See all our shows at Realty.com.au