Auction market shows positive signs

By Kay Rivera | 07 May 2019

The number of homes taken to auction across the combined capital cities this week climbed to 1,472 from 1,026 over the previous week. The preliminary clearance rate, likewise, rose to 58.8% from last week’s final clearance rate of 50.4%. Once final results for the week are collected, the number will most likely revise down to the low 50% range.

The results above could be encouraging compared to earlier figures in 2019. Data from CoreLogic, though, showed that the current week’s auction volume is still much lower than a year ago (2,311). The clearance rate was recorded at 62.1% during the same time in 2018.

Six hundred seventy-eight homes went under the hammer this week in Melbourne. The figure logged is higher from the previous week’s auction volume of 498. Last year at this time, a total of 1,144 homes were taken to auction across Victoria’s capital. The preliminary auction clearance rate came in at 60.8% this week— up from 53.6% over the previous week but lower than this time last year (63.7%).

Sydney, which is known to be one of the busiest auction markets in the country, posted a lower volume than Melbourne. New South Wale’s capital was host to 535 auctions this week, with preliminary results returning a 66.6% clearance rate across 326 properties sold.

Over the previous week, 332 auctions were held across the city, and a final clearance rate of 52.4% was recorded. This time last year, 63.1% of the 797 Sydney homes auctioned were successful.

Across the smaller auction markets, Brisbane was the only city to record a fall in auction volumes and the clearance rate week-on-week, while year-on-year, all capital cities saw a fall in auction volumes.


Top Suburbs : collingwood , wiley park , rockville , coolbellup , wallsend


Get help with your investment property

Do you need help finding the right loan for your investment?

When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local mortgage broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus an appointment is free.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here