Tag: Auction Results

Auction Clearance Up, But Volumes Down

From CoreLogic.

This week 1,402 auctions were held across the combined capital cities, significantly lower than the 2,907 held last week and lower than one year ago (1,488). Four out of the eight states and territories have a public holiday this coming Monday which has been a key factor in the fall in auction volumes. The combined capital city clearance rate rose this week, up from 74.6 per cent last week to 80.8 per cent this week. The two largest auction markets, Melbourne and Sydney, saw their preliminary clearance rates rise, with Sydney at 83.1 per cent and Melbourne at 84.3 per cent, while the highest clearance rate was in Adelaide where 87.0 per cent of auctions cleared over the weekend.  One year ago, the combined capital city clearance rate was a lower 64.9 per cent.

Auction Results – Is That A Wobble?

The preliminary auction clearance results from Domain, for today, on first blush looks strong, but below the surface, volumes were down.

Sydney clearance rates were at 82.9%, compared with 75.1% last week, and 69.5% a year ago. But the number of auctions were down, 458, compared with 597 last week and 502 this week last year.

In Melbourne (over a long weekend) clearances were 79.2%, compared with 78.3% last week and 67.4% this time last week. However, reported auctions were 152, compared with 1,071 last week and 316 last year.

Nationally, the clearance rate was 79.2%, compared with 75% last week and 65.7% last year. But reported auctions were just 700 compared with 1,915 last week and 958 last year.

Brisbane scheduled 113 auctions and achieved 52% clearance, Adelaide 56 scheduled auctions with a clearance of 66% and Canberra 22 auctions with 77% clearance.

So overall a mixed picture. Lets see if volume comes back next week, of whether this is a sign of some slowing in momentum.

Strong Auction Results Once Again

Auction results continue their strong run into March, with Sydney and Melbourne recording an 80% clearance rate over the first week of the month, according to CoreLogic.

After recording the strongest result since June 2015 last week, the preliminary clearance rate across the combined capital cities fell slightly this week, from 78.4 per cent to 77.8 per cent, based on preliminary results. The number of auctions held across the capitals this week was lower, with 2,714 held, compared to 3,301 over the previous week which was a record high for February. In comparison, over the corresponding week last year, both the combined capital city clearance rate and the number of auctions were lower, with 2,304 auctions held and 68.6 per cent reported as successful. Sydney saw the clearance rate remain above 80 per cent for the 4th week in a row, and Melbourne for the 2nd week in a row, while across the remaining cities; week-on-week results show a fall in clearance rates with the exception of Perth where results improved, and Tasmania, which remained unchanged over the week.

Auction Clearances Through The Roof This Week

The preliminary auction clearance results from Domain for today nationally hit 77.9%, higher than last week, and the comparable week last year. The total volume of property listed was 2,158, higher than a year ago, but lower than last week. 1,329 properties were sold, compared with 1,906 last week and 1,289 a year ago.

Sydney cleared 78.3%, with 426 sold, whilst Melbourne cleared 80.6% with 772 sold.

Brisbane cleared 59% of the 118 auctions scheduled, Adelaide 67% of 78 and Canberra 68% of 83 auctions scheduled.

Auction clearance rates reach the highest level over the calendar year to date

From CoreLogic.

Across the combined capital cities this week, the number of properties taken to auction increased dramatically, with 3,232 auctions held; significantly higher than what has been recorded over the same period across previous years, with auction volumes generally reaching their seasonal peaks around March.  The record highs for the number of auctions were confined to the Sydney and Melbourne markets, where auction numbers were the highest on record for the month of February.  Despite auctions reaching record highs for February, the combined capital city preliminary clearance rate also reached a new record high over the year to date.  78.6 per cent of auctions recorded a positive result this week, which is higher than the 71.4 per cent last year, across a lower volume of auctions (2,701). Overall activity has increased week-on-week, with volumes increasing across all the capital cities, with clearance rates also rising in most capital cities with the exception of Canberra and Perth, where clearance rates fell over the week.

Today’s Auction Results Continues Strong Trend

Preliminary auction clearance results today from Domain show strong results again, though the preliminary result from Sydney last week stood at 83.1% compared with 80.2% this time around. Nationally clearance was 80.9% compared with 75.7% last week. This is higher than a year ago though on slightly smaller volumes. Melbourne stands at 82.4% compared with 76.1% last week on higher volumes.

Brisbane cleared 69% on 122 listed, Adelaide 81% on 90 listed and Canberra 77% from 79 listed.

Auction Volumes Surge Past 2,000 This Week

From CoreLogic.

The combined capital city preliminary clearance rate remained in the high 70 per cent range over the week, despite auction volumes reaching the highest level so far this year.  There were 2,280 dwellings taken to auction this week, significantly increasing from 1,591 over the previous week, with 77.0 per cent of auctions reported as successful.  The larger number of auctions was driven by a substantial rise across the Sydney and Melbourne markets, while the number of auctions held actually saw a decrease across the smaller capital cities over the week.  The strongest clearance rates, based on preliminary data, were in Sydney and Canberra, where 83.5 per cent and 81.5 per cent of auctions returned a successful result.  Melbourne also recorded a strong preliminary clearance rate, with 76.7 per cent of auctions clearing.  The preliminary combined capital city clearance rate was higher this week than what was seen over the same period last year, however, the number of auctions held was lower, with 2,347 auctions held over the same week last year, returning a 71.8 per cent clearance rate.

Auction Clearance High, Again

The preliminary data from Domain shows that nationally auction clearances were 79.3% with 1,812 listed. Sydney cleared at 83.1% on 675 listed whilst Melbourne cleared 79% on 719 listed. All higher than last week and total volumes higher than a year ago – so no signs of slowing momentum so far.

Brisbane cleared 52% on 94 listed, Adelaide 71% on 70 listed and Canberra 79% on 65 listed.

Preliminary clearance rates surges to 76.6 per cent

From CoreLogic.

It has been strong week for auction activity across the capital cities, with the number of auctions more than doubling compared with last week in Sydney and Melbourne.  Despite the surge in the number of auctions held, the combined capitals region recorded a preliminary auction clearance rate of 76.6 per cent, up from last week, when the final clearance rate dipped to 68.7 per cent.  Auction volumes saw a significant increase over the week, with volumes rising week-on-week across all of the capital cities, with the exception of Adelaide which saw a decrease over the week.  There were 1,564 properties taken to auction across the combined capital cities this week, compared to last week’s 881. At the same time last year, auction volumes were lower, with 1,400 capital city auctions held with a lower rate of clearance (71.8 per cent).  The two largest auctions markets, Sydney and Melbourne, recorded a preliminary clearance rate of 84.8 per cent and 75.4 per cent respectively, suggesting that vendors are still very much in the driver’s seat across these markets.

Auction Clearances Are Running Hot

Today was a record heat-wave day down the east coast, and also a massive weekend for auction clearances according to the preliminary data from Domain.

Sydney achieved 84.2%, compared with 71.4% last week, and Melbourne hit 78.7% compared with 75.3% last week. Nationally, the clearance was 80.4%, compared with 68% last week, higher than a year ago also and a larger volume to boot!

Brisbane achieved 63% on 105 scheduled auctions, 79% in Adelaide on 73 listings, and Canberra reached 79% on 69 scheduled auctions.