14 Nov

• Slow spring market start

• National auction numbers climb
• 24% Sydney withdrawals

Capital city auction activity rose by almost 13% this week, with 2,159 homes auctioned across the combined capitals. The rise was accompanied by a -3.6 percentage point decline in the preliminary clearance rate.

Auction activity across Melbourne continued to trend upwards this week with 920 homes taken to auction while in Sydney 786 homes went under the hammer this week, making it Sydney’s busiest auction week since late September (807).   However, the decline in clearance in Sydney to 60.9%, was partly attributable to a higher portion of withdrawn auctions, rising above 20% for the first time since late September to 24.4%.

Across the smaller capitals, Brisbane hosted the busiest auction market this week (up 31.5%), with 171 homes auctioned across the city. 

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