Week-On-Week Results Show Auction Volumes Remain Steady
Published Dec 03, 2018 15:21
2,742 homes were taken to auction last week
This week 2,742 homes were taken to auction across the combined capital cities, only slightly higher than the 2,701 auctions held last week. Auction volumes have started to trend higher over the last few weeks, as we traditionally see this time of year. However current volumes remain lower than over the same period last year. Preliminary results show a clearance rate of 47 per cent this week, rising from last week’s final clearance rate of 41.9 per cent; the lowest result seen since June 2012. Over the same week last year the final clearance rate was recorded at 60.3 per cent across 3,291 auctions.
Looking at results by property type, units outperformed houses once again this week with 49.4 per cent of units selling at auction, while 46.1 per cent of houses sold across the combined capital cities.
In Melbourne, a preliminary auction clearance rate of 45.8 per cent was recorded across 1,381 auctions this week. Last week there were 1,132 auctions returning a final clearance rate of 41.4 per cent. Over the same week last year, 1,647 Melbourne homes were taken to auction with 65.4 per cent returning a successful result.
There were 927 auctions held in Sydney this week returning a preliminary clearance rate of 50.6 per cent. In comparison, there were 1,035 auctions held over the previous week and the final auction clearance rate was 44.8 per cent. One year ago, 1,143 auctions were held across the city and the clearance rate came in at 56.2 per cent.
Across the smaller auction markets, Canberra returned the strongest preliminary clearance rate of 50 per cent, while only 33.3 of Perth homes sold at auction.
Get The App
The above results are preliminary, with ‘final’ auction clearance rates published each Thursday. CoreLogic, on average, collects 90% of auction results each week. Clearance rates are calculated across properties that have been taken to auction over the past week.
Written By: Core Logic
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.