There were 3,384 homes taken to auction across the combined capital cities this week, making it the busiest February auction week since CoreLogic records commenced in 2008. Over the previous week, 2,898 auctions were held across the combined capital cities, while this time last year, there were 2,473 homes taken to auction. Of the 2,755 results collected so far, 74.3 per cent were successful, down slightly from the previous week’s preliminary clearance rate of 74.6 per cent, which revised down to 72.8 per cent at final figures. This time last year, 79.3 per cent of reported auctions were successful.

Capital City Auction Statistics (Preliminary)

Melbourne was host to 1,561 auctions this week, up from 1,323 over the previous week and 1,299 this time last year. Of the 1,291 results collected so far, 71.0 per cent have been successful, down from the previous week’s preliminary clearance rate of 74.2 per cent, which revised down to 73.4 per cent at final figures. Over the same week last year, 76.4 per cent of reported auctions were successful.

Weekly clearance rate, combined capital cities

In Sydney, 1,209 homes were taken to auction across the city, up from 1,021 over the previous week and 844 this time last year. The clearance rate increased week-on-week despite the higher volumes, with 76.9 per cent of the 1,016 results collected so far reporting a successful result. The previous week saw a preliminary clearance rate of 75.6 per cent, revising down to 71.8 per cent at final figures, while this time last year, 85.3 per cent of reported auctions were successful.

Capital City Auction Statistics (Preliminary)

Across the smaller capitals, Adelaide recorded the highest preliminary auction clearance rate (85.4 per cent), followed by Canberra (75.7 per cent) and Brisbane (72.7 per cent). In Perth, 6 of the 9 results collected so far have been successful. In terms of auction volumes, Adelaide was the busiest auction market this week with 208 homes taken to auction across the city, followed by Brisbane (223), Canberra (163) and Perth (20). There were no auctions in Tasmania this week.

Sub-region auction statistics (preliminary)

CoreLogic – Caitlin Fono- 28 Feb 2022

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