Digital Finance Analytics (DFA) Blog
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The preliminary auction clearance results are in from Domain. Looks like the volume of sales has fallen compared with last week (even though the clearance rate is higher) and last year – all subject to final results later of course. Melbourne is still hotter than Sydney, where our leading indicator research suggests appetite for property is cooling the fastest.
Brisbane achieved 49% clearance on 102 scheduled auctions, Adelaide 70% on 103 scheduled, and Canberra 70% on 49 scheduled auctions.
There were 2,497 auctions held across the combined capital cities this week, up from 2,318 last week. So far, 2,007 results have been reported to CoreLogic, returning a preliminary clearance rate of 70.6 per cent, increasing from last week when the final clearance rate slipped to 64.4 per cent, the lowest clearance rate since January 2016. While we expect the clearance rate to revise over the next few days as the remaining results are collected, it will be interesting to see how the clearance rate holds up on Thursday when the final figures are released.
Over the corresponding week last year, auction volumes were similar, with 2,443 properties taken to auction, while the clearance rate was stronger (76.2 per cent). The highest preliminary clearance rate was recorded in Melbourne this week (74.8 per cent), followed closely by Canberra (74.5 per cent).
The preliminary auction results are in from Domain. The trend continues with lower volumes but still strong clearance rates in the main centres, and with Melbourne leading the charge.
Away from the Sydney/Melbourne axis, Brisbane cleared 48% of 121 scheduled auctions, Adelaide achieved a 79% result on 72 scheduled auctions and Canberra 68% of 47 scheduled.
Auction activity across the combined capital cities increased this week after last week’s grand final and public holiday slowdown. 2,286 homes were taken to auction, returning a preliminary auction clearance rate of 68.1 per cent. The preliminary clearance was up from the 66.3 per cent last week when volumes dipped significantly across the capitals amidst the festivities of the grand finals and long weekend.
Melbourne was the only capital city to record a preliminary clearance rate above 70 per cent (72.1 %), while clearance rates across Sydney remained below 70 per cent for the eleventh consecutive week. Compared to one year ago, clearance rates continue to track lower with final results from the corresponding week last year recording a 76.4 per cent clearance rate, while volumes were a similar 2,290.
The preliminary results from Domain for today continue to show falling volumes and clearance highest in Melbourne, even after a rebound from the long weekend last week. The numbers are below those from a year ago.
Brisbane cleared 53% of 11 scheduled auctions, Adelaide 66% of 80 scheduled and 65% of those scheduled in Canberra.
The combined capital cities saw significantly fewer auctions this week, with a total of 953 auctions held; the lower activity a result of most states being host to a long weekend as well as both the AFL and NRL grand finals taking place. Despite lower auction volumes, clearance rates held firm, returning a preliminary result of 69.4 per cent, rising from the 66.2 per cent last week when final results saw volumes reach their highest level since May this year (2,782).
Melbourne was the main driver of the strong clearance, with a preliminary result just under 90 per cent. Over the same week last year, activity was equally subdued, with 872 auctions held and 75.8 per cent successful. Brisbane was the only capital city to see a rise in volumes week-on-week.
The preliminary auction clearance results are in from Domain. Given it is a long weekend, the number of sales are way down on last week.
Brisbane cleared 47% of 78 scheduled, Adelaide had no sales on 8 listed, and Canberra cleared 73% of the 35 scheduled auctions.
Auction volumes increase across all but one of the capital cities this week, returning a preliminary clearance rate of 70.7 per cent across 2,759 auctions.
Auction volumes have increased across all but one of the capital cities this week with a total of 2,759 homes taken to auction, making it the busiest week for auctions since the end of May. So far, 2,226 results have been reported to CoreLogic, returning a preliminary clearance rate of 70.7 per cent, up from last week’s final clearance rate of 66.7 per cent across 2,510 auctions.
The final clearance rate across the combined capital cities has been holding around 66 per cent for the last 3 weeks so it will be interesting to see if this is the case again on Thursday once the remaining results have been collected. One year ago, the final auction clearance rate was recorded at 75.4 per cent and there were 2,480 auctions held across the capital cities.
The preliminary auction results from Domain are in, and Melbourne is still leading Sydney significantly. Sales Volume appear lower compared with last week, and this time last year. We will see where the final counts settle later. This confirms our view that momentum continues to ease.
Brisbane cleared 50% of 94 scheduled auctions, Adelaide 78% of 91 auctions, (above even Melbourne), and Canberra 65% of 65 scheduled.
The preliminary auction results are out from Domain. Melbourne still looks strong, but momentum in Sydney is weakening.
In Brisbane, 48% of the 98 scheduled auctions cleared, Adelaide 81% of 73 scheduled, and 71% of 57 in Canberra. We are seeing quite a swing towards the cheaper market in SA.
