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Just 660 capital city homes taken to auction over Easter

Posted by Nathan McCullum on 11/04/2023
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fter recording the busiest auction week of the year to date last week, auction activity cooled this week due to the Easter long weekend.

There were 660 homes taken to auction across the combined capital cities, down from 2,687 over the previous week and 4,035 this time last year. Of the 489 results collected so far, 67.8% were successful, down 2.9 percentage points on last week’s preliminary clearance rate (70.7%), which revised down to 65.2% at final figures. This time last year, 64.0% of reported auctions were successful. Easter 2022 (week ending 17 April) was the busiest Easter on record with 926 homes taken to auction across the combined capitals and a final clearance rate of 62.4% was recorded.

Capital City Auction Statistics (Preliminary)

Sydney saw 375 homes taken to auction this week, down from 1,017 over the previous week and 1,490 this time last year. Of the 304 results collected so far, 71.4% were successful, down 1.9 percentage points on last week’s preliminary clearance rate of 73.3%, which revised down to 66.1% at final figures. One year ago, 61.7% of reported auctions were successful. Easter 2022 saw 480 auctions held across the city, 58.9% of which were successful.

Weekly clearance rates, combined capital cities

There were just 110 homes taken to auction across Melbourne, down from 1,202 the previous week and 1,795 this time last year. Of the 66 results collected so far, 57.6% were successful, down 13.6 percentage points on last week (71.2%), which revised down to 66.7% at final figures. This is the lowest preliminary clearance rate the city has seen since the week ending 24 July 2022 (57.0%), and is 5.1 percentage points below the final clearance rate recorded this time last year (62.7%). Easter 2022 saw 196 auctions held across the city, and a clearance rate of 64.3% was recorded.

Capital City Auction Statistics (Preliminary)

Across the smaller capitals, Brisbane held the most auctions (78), followed by Adelaide (48) and Canberra (45). Canberra recorded a preliminary clearance rate of 77.1%, followed by Adelaide (75.0%) and Brisbane (58.3%). Just four auctions were held in Perth, none of which were successful, while in Tasmania, no homes were taken to auction over Easter.

Sub-region auction statistics (preliminary)

Auction activity is set to rebound next week, with just under 1,800 homes currently scheduled for auction across the combined capitals. However, as winter approaches, its likely we’ll see auction volumes trend lower, in line with previous seasonal patterns.

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