Clearance rates continue to trend below 70 per cent across the combined capitals

From CoreLogic.

There have been 1,840 capital city auction results reported to CoreLogic so far this week, resulting in a preliminary auction clearance rate of 69.1 per cent across the combined capital cities. There were a total of 2,323 capital city auctions held this week, down from the 2,444 held last week. This week’s preliminary result indicates that clearance rates are continuing to soften, after last week saw the final clearance rate surpass the previous week as the lowest recorded over the year to date across the combined capitals (66.7 per cent).  With results still being collected, it is likely that the final clearance rate this week will revise even lower again. However, compared to results from one year ago clearance rates are relatively similar with the 67.4 per cent rate of clearance across a slightly lower volume of auctions (2,183).

Auction Results 24 June ’17

The preliminary auction results are out from Domain.  Sydney cleared 69.5% with 382 sold, compared with 464 last week and 406 last year. Melbourne sold 72.7% with 506 cleared, compared with 641 last week; so nationally, 70.3% cleared with 963 sold, compared with 66.3% last week when 1,197 sold, or last year when 65.2% cleared with 1,085 sold. So still life in the property market yet, with demand looking strong (at a time when some think first time buyers will wait for the 1 July grants and stamp duty relief).

Elsewhere Adelaide cleared 74% of 72 listed, Canberra cleared 70% of 53 listed and Brisbane cleared just 40% of 88 listed.

Auction preliminary clearance rate of 69.6 per cent

From CoreLogic.

There were 2,407 auctions held across the combined capital cities this week, with a preliminary auction clearance rate of 69.6 per cent. Last week, the final clearance rate fell to 67.8 per cent, recording the lowest clearance rate year to date, across 1,279 capital city auctions. This is the 3rd week in a row now where the combined capital city clearance rate has trended below 70 per cent. At the same time last year, auction volumes were lower than this week, with 2,183 properties taken to auction and a clearance rate of 67.4 per cent. Across Sydney, preliminary results show an improvement in the rate of clearance after last week’s final result saw the clearance rate drop below 70 per cent, however as more results are collected it’s likely Sydney’s final clearance rate will again slip below the 70 per cent mark.  Melbourne’s auction results have also moderated, however the clearance rates remain well above 70 per cent, indicating some resilience in selling conditions relative to Sydney.

Auction Results 17 June 2017

The preliminary auction results for 17 June 2017 from Domain, show a national clearance rate of 71.3% with 1,041 sold, up from last week which was a long weekend, but lower than this time last year.

Sydney cleared 69.6% with 418 sold, compared with 72.2% with 654 sold this time last year. In Melbourne, 75.3% cleared with 549 sold compared with 69.2% with 654 sold this time last year. So some easing is visible.

Brisbane cleared 44% of 97 listed, Adelaide 80% of 72 listed and Canberra 55% of 53 listed.


Auction Rates Lower This Week

From CoreLogic.

The number of auctions held this week saw a significant decrease, with 1,265 properties taken to market across the combined capital cities, down from 2,578 over the week prior. The decrease in auction activity this week is attributable to the Queen’s Birthday public holiday this Monday, which has affected activity across most states, including Australia’s two largest auction markets. The lower volume is consistent with what is historically seen over this period, with 1,100 auctions reported over the same week last year. Last week saw the final auction clearance rate revise lower to reach 69.8 per cent; an equal second lowest clearance rate for the year so far.  The final clearance rate last week was the lowest over 2017 to date in Sydney and Melbourne.  This week the preliminary auction clearance rate increased slightly to 71.8 per cent, however it is typical to see clearance rates revise lower as final results are collected.

Auction Results Long Weekend Dive

The preliminary data from Domain shows that yesterdays auction clearance volumes were down, to 413 nationally compared with 1,303 last week. However clearance rates are still sitting around 70%.

Brisbane cleared 60% of 87 scheduled, Adelaide cleared 68% of 45 scheduled, and Canberra cleared 63% of 31 listed.

Preliminary clearance rate holds above 70% as the number of auctions held slips lower

Confirming the Domain data we reported on Saturday, CoreLogic says the first week of winter saw auction volumes fall, with 2,545 homes taken to auction, compared to 2,885 the previous week.

The preliminary clearance rate across the combined capital cities was higher (73.9 per cent) compared with last week’s finalised result, which was the third lowest clearance rate so far this year (71.3 per cent). With auction clearance rates typically revising lower as more results flow through, the final clearance rate is likely to be lower than what was recorded last week.  At the same time last year, both the combined capital city clearance rate and the number of auctions were lower, with 2,008 auctions held and 68.2 per cent reported as successful. The two largest auction markets, Melbourne and Sydney, saw their preliminary clearance rates rise compared with last weeks finalised results, with Sydney at 77.5 per cent and Melbourne at 75.4 per cent. Across the smaller capital city markets, week-on-week results show mixed results with clearance rates falling in Brisbane and Canberra.

Auctions – High Clearance Rate On Lower Volumes Today

The preliminary results from Domain are out and show continuation of trend with high clearance rates, but on lower volumes.

Sydney cleared 74.3% compared with 70.6% last week, with 445 sold. Melbourne cleared 75.9% compared with 73% last week, with 602 sold, and nationally, 74.2% or 1,139 sold compared with 70.1% 1,423.

Brisbane cleared 50% of 104 scheduled auctions, Adelaide 73% of 74 scheduled and Canberra 73% of 65 scheduled auctions.

Auction Clearance Rate Remains Strong

From CoreLogic.

The amount of auction activity across the capital cities increased slightly this week, up from 2,824 last week to 2,850 this week, while this time last year auction volumes were lower, with 2,480 homes taken to auction across the combined capital cities.

This week’s preliminary weighted average clearance rate across the combined capitals was 74.6 per cent, increasing from 73.1 per cent over the previous week and up from 67.7 per cent one year ago. Melbourne saw the highest preliminary clearance rate across the cities at 77.3 per cent, down slightly from last week, while across the remaining cities; clearance rates increased week-on week with the exception of Adelaide and Tasmania where clearance rates fell.


Yet Another Bumper Saturday!

The preliminary auction clearance results are in from Domain. Nationally 1,222 properties sold, compared with 1,496 last week. This equates to a clearance rate of 74.8% compared with 72.9% last week, and 66.8% a year ago. So volumes down a little, but bumper sales.

Melbourne led the charge (again) with a 76.6% clearance rate with 679 sold, compared with 792 last week and 700 a year ago. Sydney hit 75.9% with 453 sold compared with 565 last week at 75.9% compared with 72% last week and 65.9 last year.

So whilst volumes may be down a little, there are plenty of buyers still wanting to close a deal!

Brisbane cleared 42% of the 110 scheduled auctions, Adelaide 62% of 69 scheduled, and Canberra 78% of 78 scheduled.