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Auctions Outcomes Continue To Improve

Auction volumes increased from 13,783 to 14,216 (up 3%) in the September Quarter, according to CoreLogic.

“The combined capital city auction clearance rate increased over the three months to September, returning a clearance rate of 59%, up from 48% over the June Quarter, which was the lowest seen since the December 2018 Quarter (44%).

In the past week, Sydney had 707 properties go under the hammer, accounting for 60% of all auctions, but Melbourne had its biggest weekend of auctions in two months with 188 homes going to auction – up on 59 in the prior week.

Among the smaller auction markets, Canberra was the strongest, recording an 86% clearance rate with 49 of 59 auction results collected.

Brisbane recorded a preliminary clearance rate of 55% with 74 auctions scheduled; Adelaide recorded 71% from a similar number of auctions; and Perth managed 55% from just 26 auctions.

Nationally, CoreLogic reported a 72% preliminary clearance rate from 1,134 auctions, up from 72% a week prior.

Onsite auctions return to Melbourne this week.

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