Auction market witnesses another busy week

By Gerv Tacadena | 19 Nov 2019

Australia's auction market witnessed its second-busiest week this year, with 2,571 homes going under the hammer, according to the latest figures from CoreLogic.

Preliminary statistics point to a 74.1% success rate, up from the previous week's final rate of 70.6%.

The number of homes taken to auction over the past weekend was lower than last year's 2,745. However, during the same time last year, the clearance rate was substantially lower at 42%.

Also read: Surge in buyer demand pre-Christmas

Of all capital cities, only Sydney and Adelaide managed to beat their annual record in terms of volume and success rate. During the weekend, Sydney hosted 932 auctions, up from last year's 875. Adelaide had 149 auctions, up from last year's 114.

Melbourne, on the other hand, registered lower auction volume than last year's 1,401. Over the weekend, the city saw 1,241 homes taken to auction, returning a preliminary clearance rate of 77%. This has been the city's second-strongest week for auctions this year.

Across smaller markets, Brisbane, Canberra and Perth recorded fewer homes taken to auction over the week. Tasmania saw no change in auction numbers week-on-week with a total of five properties taken to auction.

The table below shows the auction performance of each capital city:

Top Suburbs : north epping , westmead , alexandra hills , woolloongabba , homebush


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