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Capital city auction activity ramps up

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1 minute read

Capital city auction activity ramps up

by Reporter 02 February 2021 1 minute read

In a sign that capital city auction activity is ramping up after the holidays season, 891 homes have been taken to auction this week, compared with 625 at the same time last year.

Capital city auction activity ramps up
Capital city auction activity ramps up
by Reporter
February 02, 2021

According to fresh CoreLogic data, Melbourne has once again emerged as the busiest auction market in terms of volumes, with 388 auctions held across the city, with a preliminary auction clearance rate of 83 per cent.

Sydney followed with 272 auctions but a clearance rate that’s just as impressive at 82.9 per cent.

Compared with the same week last year, both volumes and clearance rates are higher across the two largest markets, with Melbourne recording a 65.8 per cent final clearance rate across 211 auctions and Sydney a 72.9 per cent success rate across 158 auctions one year ago.

Performance varied across the smaller cities, with Adelaide and Canberra both recording preliminary clearance rates above 80 per cent. PerthPerth, TAS Perth, WA and Brisbane trailed behind with 66.7 per cent and 55.2 per cent homes sold.

City Clearance rate Total auctions CoreLogic auction results Cleared auctions Uncleared auctions
Sydney 82.9% 272 205 170 35
Melbourne 83.0% 388 288 239 49
Brisbane 55.2% 50 29 16 13
Adelaide 83.7% 89 43 36 7
Perth  66.7% 15 6 4 2
Tasmania n.a. 2 1 0 1
Canberra 84.4% 75 45 38 7
Weighted average 81.1% 891 617 503 114

CoreLogic is confident the number of auctions will rise further, providing a timely test of the market’s depth.

Capital city auction activity ramps up
Capital city auction activity ramps up
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