Google AI
The Times Australia

Times Media

CoreLogic | Capital city auction clearance rates continue to decline

  • Written by: Caitlin Fono, Research Analyst, CoreLogic

There were 2,526 homes taken to auction across the combined capital cities this week, up 83.2% from the previous week when six of the eight states and territories celebrated the Queen’s Birthday long weekend (1,379).

This time last year, 2,400 auctions were held across the combined capital cities. Of the 1,968 results collected so far, 57.8% were successful, the lowest preliminary clearance rate since August last year. The previous week returned a preliminary clearance rate of 58.5%, revising down to 54.8% at final figures which is the lowest final clearance rate recorded since late July 2020. This time last year, 74.1% of reported auctions were successful.

In Melbourne, 1,264 homes were taken to auction this week, up from 450 over the previous week and 788 this time last year. Of the 1,016 results collected so far, 57.9% have been successful, up slightly from the previous week’s preliminary clearance rate of 57.4%, which revised down to 52.4% at final figures, the lowest final clearance rate the city has seen since September 2021. Over the same week last year, 69.0% of auctions were successful.

There were 793 auctions held across Sydney this week, compared to 541 over the previous week and 1,157 this time last year. Of the 624 results collected so far, 55.4% were successful, the lowest preliminary clearance rate the city has seen since April 2020. The previous week recorded a preliminary clearance rate of 58.1%, which revised down to 54.3% at final figures. Once the remaining results are collected, Sydney’s final clearance rate may slip into the 40% range, although it’s likely to just manage to hold above 50.%.

Across the smaller capitals, Adelaide recorded the highest preliminary auction clearance rate (70.0%), followed by Canberra (64.0%) and Brisbane (52.2%). Adelaide was the busiest auction market this week with 179 homes taken to auction across the city, followed by Brisbane (174), Canberra (101) and Perth (14). There was one auction held in Tasmania.

 

Property Times

Australia's Housing Market After Labor's Tax Changes: Did the Predicted Property Crash Arrive?

Several months after changes to property investment tax settings, Australia's housing market has delivered a more complex picture than many predicted. When the Federal Government announced changes affecting property investors, some commentators wa...

Weekend Property Tour: Discover Melbourne's Eastern Suburbs

Melbourne's eastern suburbs offer one of Australia's most enjoyable weekend drives. From elegant inner-city neighbourhoods to thriving family communities and the gateway to the Yarra Valley, this route showcases a diverse range of homes, shopping p...

Melbourne Weekend Property Tour: South of the Yarra

Melbourne's south side has long held a special place in the city's property market. Stretching from the inner-city elegance of South Yarra through leafy family suburbs and out to the bayside, it offers everything from luxury penthouses and Victoria...

The Hidden Financial Risks of Self-Managing Your Australian Investment Property

For many Australian property investors, the initial appeal of self-managing a rental property is based on simple mathematics. By bypassing professional management, landlords hope to save the standard six to ten percent agency fee and maximise their a...

The Times Property Section

Australia's Housing Market After Labor's Tax Changes: Did the Predicted Property Crash Arrive?

Several months after changes to property investment tax settings, Australia's housing market has d...

Can You Furnish an Entire Three-Bedroom Home from IKEA?

For anyone moving into a newly built home, investment property or first apartment, one question qu...

Times Magazine

Australia’s AI Productivity Push Needs a Manager Audit

Australia’s business use of artificial intelligence has accelerated quickly. The Australian Bureau...

MIST raises $3.5 million to advance financial technology supporting Australia’s international students

Australian student fintech MIST has secured a $3.5 million investment from DoxAI, providing fresh ...

Using AI to Do Your Investment Taxes? Sharesight Says Think Again

The Australian Taxation Office (ATO) has issued a fresh warning this tax season against relying on...

Technology

Australia’s AI Productivity Push Ne…

Australia’s business use of artificial intelligence has accelerated quickly. The Australian Bureau...

Local News

Psychology clinic in Tasmania opens…

In response to Tasmania’s growing mental health crisis, a new purpose-built, multi-disciplinary me...

Culture

Australia’s AI Productivity Push Needs a Mana…

Australia’s business use of artificial intelligence has accelerated quickly. The Australian Bureau...

Travel

Cairns Esplanade Lagoon — the stage where Cai…

“All the world's a stage.” Shakespeare wasn't writing about Cairns when he penned that famous lin...

The Times Features

Cairns Esplanade Lagoon — the stage where Cairns comes …

“All the world's a stage.” Shakespeare wasn't writing about Cairns when he penned that famous lin...

Food Hygiene at Home: Simple Habits That Can Prevent a …

Preparing meals at home is one of life's pleasures, but even the cleanest kitchens can become a so...

Junction Arts Festival Returns to Transform Launceston …

Launceston will once again become a platform for bold art, performance, music and shared experienc...