Auction Results – Page 28 – Digital Finance Analytics (DFA) Blog

Auctions Continue Their Winning Ways

The latest provisional results from APM PriceFinder shows that clearance rates across the country were strong today. Nationally, there were 1,858 listed, and 78.6% cleared. The number was down a little from last week, but achieved a higher rate of sale. Further evidence of strong interest in property.

Sydney cleared 80% of the 673 listed, whilst Melbourne listed 989 and cleared 78%. Canberra cleared 74% of the 48 listed and Adelaide 70% of the 50 listed. Brisbane results are yet to be posted.

Whilst overall volumes are down a little on this time last year, we do not see much sign of people walking away from the property market. This is another reason why we believe home prices will continue to strengthen as we move towards the summer.

Auction Momentum Continues

Anyone who wishes to argue the property market is stalling, needs to explain the continued high auction clearance rates from last weekend. The market appears in rude health to us!

According to CoreLogic, last week the capital city auction markets were quiet due to the Labour Day long weekend which coincided with the AFL and NRL grand finals. Given this, it was unsurprising to see volumes increase substantially this week, with 2,246 held across the combined capital cities. The preliminary clearance rate was 79.2 per cent this week, up from a final clearance rate of 75.8 per cent last week across just 872 auctions. This week four of the capital cities recorded clearance rates above 80 per cent. At the same time last year, results were lower, with 69.5 per cent of auctions clearing over a total of 3,016 capital city auctions.

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Latest Auction Results

The preliminary results for today are in from APM PriceFinder. After the drop in volume last week, thanks to the long weekend and storms, the national clearance rate was 78.5% from 1,855 listings. Melbourne beat Sydney at 79.8% versus 78.8% and on 966 listed compared with 651.

Volumes are still lower than this time last year, but demand remains strong. Adelaide listed 74 and cleared 75%, Brisbane cleared 57% of the 120 listed whilst Canberra listed 44 and cleared 87%.

High Clearance, But Low Auction Volumes Confirmed

CoreLogic confirms what we saw already, that there was a substantial drop in auction numbers this week due to the grand finals and the Labour Day long weekend.

853 properties were taken to auction last week, with a preliminary clearance rate of 77.5 per cent, compared to the same time last year when there were 865 auctions were held, with a clearance rate of 68.2 per cent. In comparison, over the week before last a total of 2,480 auctions were held with a clearance rate of 75.4 per cent.

Auction Results Hit By Long Weekend

The latest preliminary results from APM Pricefinder show that there was a high auction clearance rate, though slightly lower than the extraordinary results from last week, but on much lower volumes thanks to the long weekend. Sydney achieved 76.6% on just 263 listings, Melbourne 76.8% on 52 listings, and Nationally, 75% on 399 listings, compared with 1,916 last weekend. Canberra achieved 58% on 16 listings, Brisbane 56% on 57, and Adelaide did not sell any of the 11 listed (the bad weather may have something to do with this?)

So, we really cannot drawn many conclusions from this set of results.

Another Strong Auction Result

From CoreLogic.

Confirming the APM result we reported on Saturday, the preliminary clearance rate remains above 70 per cent for the ninth consecutive week, edging close to 80 per cent.

It has been another strong week for auction activity, there were 2,445 auctions held across the combined capital cities with a preliminary auction clearance rate of 78.3 per cent this week. Last week, the final auction clearance rate was recorded at 76.2 per cent with 2,149 residential properties taken to auction. At the same time last year, auction volumes were higher (2,835) with a clearance rate of 69.7 per cent. Over the first four weeks of Spring, auction clearance rates have consistently been recorded at a higher rate than over the corresponding weeks last year, while auction volumes remain around 20 per cent lower.

Auction Clearances Continue To Motor

Latest preliminary data from APM Pricefinder shows continued momentum in auction sales today. Nationally, 1,912 were listed and 78.9% cleared, compared with 75.8% of 1,599 listed last week, and 68.4% on a slightly higher listing last year. Sydney led the way at 81.6%, compared with 79.6% last week on higher volumes.

Melbourne was also higher at 79.6% on 950 listing, compared with 78% on 793 properties last week. Adelaide 77% of the 86 listed, and Brisbane cleared 53% of the 103 listed. Canberra hit 66% of the 56 properties listed.

So once again, the main action was in Sydney and Melbourne, with clearance rates at extreme levels – who says the market is tanking?

Higher Auction Clearances Confirmed

According to CoreLogic, based on preliminary results, the combined capital city clearance rate rose this week, from 75.4 per cent last week to 77.9 per cent.

This week, the clearance rate across the capitals is higher than one year ago, when 69.9 per cent of reported capital city auctions cleared. There were 2,093 capital city auctions held over the week, similar to the 2,062 last week, but lower than one year ago, when, despite lower clearance rates, the spring market was in full force, with over 2,500 auctions held across the combined capitals. This week last year represented the 7th consecutive week of capital city auction volumes being over the 2,000 mark, while over the past seven weeks, only three weeks have seen more than 2,000 auctions across the capitals.

This aligns with the APM data already posted, though there are some variations.

Today’s Auction Results ….

APM Pricefinder preliminary auction clearance results once again confirms the appetite for property, especially in Sydney. Nationally the clearance rate was 79% on 1,595 listings, compared with 74.5% on 1,610 last week. A year ago it was 68.9% on 2,089. Again we see higher clearances on lower volumes, but sales are being closed.

Sydney hit 85.1%, the highest across the country on 567 listings, whilst Melbourne continues to have more property listed but a lower clearance rate. Adelaide cleared 78% of 62 listed and Brisbane cleared 49% of 107 listed. Canberra results are still to come in.

Preliminary auction clearance rates ease slightly to 76.4 per cent

CoreLogic says so far this week, 1,683 capital city auction results have been reported to CoreLogic, resulting in a preliminary auction clearance rate of 76.4 per cent across the combined capital cities.

This week, 2,026 total auctions were held across the capital cities, higher than last week, when 1,899 auctions were held, but remaining lower than one year ago when 2,654 capital city properties went under the hammer. Clearance rates are still tracking above 70 per cent, which they have done since the last week in July. This week’s preliminary clearance rate is down slightly from last week’s clearance rate of 77.1 per cent, which was the highest clearance rate recorded for the year to date. At the same time last year the clearance rate was 71.2 per cent.