Australia’s combined capital-city preliminary auction clearance rate was 48.8 per cent, below 50 per cent for a second consecutive weekend. Results were available for 1,208 of 1,781 auctions. Melbourne and Sydney exceeded the national reading, while Brisbane was much lower. The figures describe reported auction sales and remain subject to revision as additional outcomes become available.
Australia’s combined capital-city preliminary home-auction clearance rate stood at 48.8 per cent, staying below 50 per cent for a second consecutive weekend. Cotality’s figures covered reported outcomes for 1,208 auctions out of 1,781 held. That leaves part of the weekend’s auctions outside the initial calculation. The clearance rate measures the share of reported auctions ending in a sale, rather than a movement in the price of homes.[1], [2]
Melbourne held 707 auctions, with results collected for 502 and a preliminary clearance rate of 54.8 per cent. Sydney held 653 auctions; its 431 reported outcomes gave a 52.9 per cent rate. Brisbane was lower, at 21.4 per cent across 145 collected results from 201 auctions. Adelaide’s preliminary rate was 46.8 per cent across 79 reported outcomes, while Canberra registered 36.4 per cent across 44.[1]
Last week’s preliminary combined rate of 48.2 per cent was later revised to a final 45.4 per cent as more outcomes arrived. This week’s 1,781 auctions compare with 1,212 the week before and 2,587 in the corresponding week last year. The year-earlier clearance rate was 68.2 per cent. Sydney’s previous preliminary result also changed, from 55.7 per cent initially to a final 49.3 per cent.[1]
