Auction Clearances Higher

CoreLogic says the amount of auction activity across the capital cities increased this week, up from 2,916 last week to 3,147 this week; the largest number of auctions since the last week of February 2017 when 3,301 auctions were held. This time last year was the Easter long weekend, so auction volumes were substantially lower, with 554 homes taken to auction across the combined capital cities. This week’s preliminary weighted average clearance rate across the combined capitals was 77.1 per cent, increasing from 74.1 per cent over the previous week and up from 70.9 per cent one year ago. Sydney saw the highest preliminary clearance rate across the cities at 81.1 per cent, while across the remaining cities; clearance rates increased week-on week with the exception of Brisbane and Perth where clearance rates fell.

Auction Run Continues

The latest preliminary data from Domain shows continuing momentum in today’s auction results.

Sydney achieved a clearance of 80.2% compared with 76.7% last week, and 61.4% last year. The volumes are also up. In Melbourne, clearance was 79.5%, higher than the 75.3% last week and nationally, clearances were at 78% compared with 73.8% last week.

Our surveys suggest that investors are rushing to purchase ahead of the upcoming budget in May, as they fear the generous tax breaks may disappear. First time buyers are being beaten to the punch.

Brisbane achieved 47% on 138 auctions, Adelaide 64% on 79 scheduled and Canberra 77% on 78.

Preliminary clearance rate and auction volumes increase across the combined capital cities

From CoreLogic.

The capital city clearance rate increased this week, with preliminary results showing that 76.2 per cent of reported auctions across the combined capital cities were successful, compared to 75.1 per cent last week and 68.8 per cent one year ago. Auction activity increased over the week with 2,844 homes taken to auction, up from 1,473 last week; however this time last year, volumes were higher with 3,540 properties taken to auction. Each individual capital city market has seen a rise in auction volumes over the week, while clearance rates have been somewhat varied. The highest preliminary clearance rate was in Sydney where 83.9 per cent of auctions cleared over the week, followed by Canberra at 76.6 per cent.

 

Auction Results Volumes Down, Clearance Rates Up!

The preliminary results for today are in from Domain, and we see strong clearance rates in the main Sydney and Melbourne markets.

The national clearance rate was 77.6% compared with 74.3% last week, with 1,333 sold compared with 705 last week, and 1,897 last year.  Sydney achieved 82.2% with 443 sales and Melbourne 775 compared with 152 last week (a holiday weekend). So high clearance rates, but on lower sales volumes.

Brisbane cleared 53% of 105 scheduled auctions, Adelaide 64% of 68 scheduled and Canberra 68% of 83 scheduled auctions.

Auction Clearance Up, But Volumes Down

From CoreLogic.

This week 1,402 auctions were held across the combined capital cities, significantly lower than the 2,907 held last week and lower than one year ago (1,488). Four out of the eight states and territories have a public holiday this coming Monday which has been a key factor in the fall in auction volumes. The combined capital city clearance rate rose this week, up from 74.6 per cent last week to 80.8 per cent this week. The two largest auction markets, Melbourne and Sydney, saw their preliminary clearance rates rise, with Sydney at 83.1 per cent and Melbourne at 84.3 per cent, while the highest clearance rate was in Adelaide where 87.0 per cent of auctions cleared over the weekend.  One year ago, the combined capital city clearance rate was a lower 64.9 per cent.

Auction Results – Is That A Wobble?

The preliminary auction clearance results from Domain, for today, on first blush looks strong, but below the surface, volumes were down.

Sydney clearance rates were at 82.9%, compared with 75.1% last week, and 69.5% a year ago. But the number of auctions were down, 458, compared with 597 last week and 502 this week last year.

In Melbourne (over a long weekend) clearances were 79.2%, compared with 78.3% last week and 67.4% this time last week. However, reported auctions were 152, compared with 1,071 last week and 316 last year.

Nationally, the clearance rate was 79.2%, compared with 75% last week and 65.7% last year. But reported auctions were just 700 compared with 1,915 last week and 958 last year.

Brisbane scheduled 113 auctions and achieved 52% clearance, Adelaide 56 scheduled auctions with a clearance of 66% and Canberra 22 auctions with 77% clearance.

So overall a mixed picture. Lets see if volume comes back next week, of whether this is a sign of some slowing in momentum.

Strong Auction Results Once Again

Auction results continue their strong run into March, with Sydney and Melbourne recording an 80% clearance rate over the first week of the month, according to CoreLogic.

After recording the strongest result since June 2015 last week, the preliminary clearance rate across the combined capital cities fell slightly this week, from 78.4 per cent to 77.8 per cent, based on preliminary results. The number of auctions held across the capitals this week was lower, with 2,714 held, compared to 3,301 over the previous week which was a record high for February. In comparison, over the corresponding week last year, both the combined capital city clearance rate and the number of auctions were lower, with 2,304 auctions held and 68.6 per cent reported as successful. Sydney saw the clearance rate remain above 80 per cent for the 4th week in a row, and Melbourne for the 2nd week in a row, while across the remaining cities; week-on-week results show a fall in clearance rates with the exception of Perth where results improved, and Tasmania, which remained unchanged over the week.

Auction Clearances Through The Roof This Week

The preliminary auction clearance results from Domain for today nationally hit 77.9%, higher than last week, and the comparable week last year. The total volume of property listed was 2,158, higher than a year ago, but lower than last week. 1,329 properties were sold, compared with 1,906 last week and 1,289 a year ago.

Sydney cleared 78.3%, with 426 sold, whilst Melbourne cleared 80.6% with 772 sold.

Brisbane cleared 59% of the 118 auctions scheduled, Adelaide 67% of 78 and Canberra 68% of 83 auctions scheduled.

Auction clearance rates reach the highest level over the calendar year to date

From CoreLogic.

Across the combined capital cities this week, the number of properties taken to auction increased dramatically, with 3,232 auctions held; significantly higher than what has been recorded over the same period across previous years, with auction volumes generally reaching their seasonal peaks around March.  The record highs for the number of auctions were confined to the Sydney and Melbourne markets, where auction numbers were the highest on record for the month of February.  Despite auctions reaching record highs for February, the combined capital city preliminary clearance rate also reached a new record high over the year to date.  78.6 per cent of auctions recorded a positive result this week, which is higher than the 71.4 per cent last year, across a lower volume of auctions (2,701). Overall activity has increased week-on-week, with volumes increasing across all the capital cities, with clearance rates also rising in most capital cities with the exception of Canberra and Perth, where clearance rates fell over the week.

Today’s Auction Results Continues Strong Trend

Preliminary auction clearance results today from Domain show strong results again, though the preliminary result from Sydney last week stood at 83.1% compared with 80.2% this time around. Nationally clearance was 80.9% compared with 75.7% last week. This is higher than a year ago though on slightly smaller volumes. Melbourne stands at 82.4% compared with 76.1% last week on higher volumes.

Brisbane cleared 69% on 122 listed, Adelaide 81% on 90 listed and Canberra 77% from 79 listed.