Auction markets heat up

By Gerv Tacadena | 30 Jun 2020

If there's one proof that seller confidence is improving across Australia, it would be the increasing number of homes being put into auction, according to the latest figures from CoreLogic.

Capital city auction markets hosted 1,424 auctions during the weekend, the highest level of activity recorded in nine weeks. This was an increase from the 1,251 homes reported over the preceding weekend.

Of all the homes that went under the hammer, 64.5% were successfully sold based on preliminary figures.

During the same period last year, 1,295 homes were taken to auction across the capital cities and a clearance rate of 62.9% was recorded.

Melbourne maintained its status as the busiest city for auctions, with volume rising to 623 homes. The city, which recently reimposed stricter restrictions on public gatherings, recorded an initial success rate of 62.7%.

Sydney also reported rosy auction figures, with 614 homes that returned a clearance rate of 66.9%

However, the most successful city for auctions was Adelaide. Of the 46 homes that were auctioned over the weekend, 76% pushed through a sale.

The table below shows the performance of each capital city:

If there's one proof that seller confidence is improving across Australia, it would be the increasing number of homes being put into auction, according to the latest figures from CoreLogic.

Capital city auction markets hosted 1,424 auctions during the weekend, the highest level of activity recorded in nine weeks. This was an increase from the 1,251 homes reported over the preceding weekend.

Of all the homes that went under the hammer, 64.5% were successfully sold based on preliminary figures.

During the same period last year, 1,295 homes were taken to auction across the capital cities and a clearance rate of 62.9% was recorded.

Melbourne maintained its status as the busiest city for auctions, with volume rising to 623 homes. The city, which recently reimposed stricter restrictions on public gatherings, recorded an initial success rate of 62.7%.

Sydney also reported rosy auction figures, with 614 homes that returned a clearance rate of 66.9%

However, the most successful city for auctions was Adelaide. Of the 46 homes that were auctioned over the weekend, 76% pushed through a sale.

The table below shows the performance of each capital city:

Auction markets continue to improve across capital cities, with Melbourne and Sydney leading the recovery

Top Suburbs : flemington , wallsend , harris park , marrickville , coorparoo

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