• 5-week slide in results
  • Numbers likely to increase

The combined capitals auction market experienced its second busiest week of the year, with 3,562 homes taken to auction. This is up 8.2% from the previous week. With volumes remaining high, the combined capitals’ preliminary clearance rate has continued to trend downward for the fifth consecutive week. 

Melbourne recorded a rise in its preliminary clearance rate, with 74.1% of the 1,324 results collected so far returning a successful result. 

Sydney had its second busiest week of the year and its busiest week since late March, with 1,290 homes taken to auction this week. The increase in volumes saw Sydney’s preliminary clearance rate continue to fall for the fifth consecutive week, with 75.1% of the 1,086 results recorded so far returning a successful result. 

With lockdown restrictions having eased in Sydney, Melbourne, and Canberra, auction volumes have increased by 79.4% since the first week of October. With each week outperforming the last, it’s unlikely that auction volumes have reached their peak. Due to a combination of pent-up supply and seasonal factors, auction volumes are set to rise further through the second half of November.

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

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