Clearance rates continue to swell

By Kay Rivera | 19 Feb 2019

The auction market continues to record positive results as auction volumes maintain its upward trend, and preliminary clearance rates are higher than the previous week’s figures.

CoreLogic reported that there were 1,444 homes taken to auction across the combined capital cities over the week, up from the past week when 928 homes went under the hammer. However, this is lower than the 1,992 auctions logged during the same period in 2018.

Preliminary clearance rates, on the other hand, are at 55.2% and are expected to revise over the week as remaining results are collected.

Last week’s final clearance rate across the combined capitals significantly jumped to 51.1%, marking the first time the final clearance rate hit the above 50% mark since September. Prior to that week, final results were at 42.8%. Year-over-year, the numbers are lower compared to the clearance rate of 66.1% recorded.  

Going by the data for each capital city, CoreLogic revealed that Melbourne was host to 657 auctions this week with preliminary results showing a clearance rate of 54.2%. This is higher than last week when the final clearance rate was at 52.4% across 350 auctions.

The auction clearance rate was higher over the same week last year, with 69.8% of the 932 auctions returning a successful result.

Sydney logged a total of 521 auctions with a preliminary clearance rate of 61%, up from 54% across 322 auctions last week. During the same time the past year, 737 homes were taken to auction across the city returning a clearance rate of 67.8%.

Brisbane and Tasmania were the only cities to log auction volumes drop week-on-week among the smaller auction markets.

Top Suburbs : torrensville , artarmon , tuart hill , coburg north , south brisbane


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