Auction Results – Page 29 – Digital Finance Analytics (DFA) Blog

Strong Auction Clearance Results Again Today

The preliminary data from APM PriceFinder suggests another strong set of results, with strong clearance rates, on higher listings (though volume was down compared with this time last year). Melbourne cleared 78.4% compared with 77% last week, and 73.2% last year. Nationally, the clearance rate was 76.8% compared with 74.9% last week, on 1,613 listings compared with 1,448 last week. The same week last year cleared 70% from 2,129 properties.

In Brisbane, 54% of the 110 listings sold, whilst in Adelaide, 77% of the 46 listings cleared and in Canberra, 78% of the 44 listings sold. Sydney cleared 77.1% of 567 properties, compared with 77% of 537 last week and 69.3% of 847 properties a year ago. Further confirmation there is still momentum in the market.

Capital City Auction Clearance Rate Reached a New Year to Date High

According to CoreLogic, the first weekend of spring sees preliminary capital city clearance rate reach a new year to date high of 78.4 per cent.

The number of homes taken to auction this week fell slightly to 1,858, compared to the 2,153 auctions held last week and 2,297 one year ago. The preliminary clearance rate was higher than the previous week’s result of 74.5 per cent and up from last year, when the clearance rate was recorded at 73.2 per cent.

Preliminary results this week are the highest recorded this year. The results show that Melbourne and Sydney recorded the highest clearance rates of (79.3 per cent) and (83.9 per cent) respectively, however both cities were host to fewer auctions this week when compared to last week.

This is consistent with the APM data we reported on Saturday.

Yet Another Set of Hot Auction Results

The provisional data from APM PriceFinder for today’s auction clearances shows that once again there is a high sale rate, though on lower listing volumes than this time last year. There is life in the property market still!

In Sydney, 80% of the 537 listings cleared, up from 75.6% last week, and 72.6% last year – though there were 822 on the market then. In Melbourne, 77.5% of the 718 properties sold, compared with 76% last week, and 73.3% last year. Brisbane cleared 55% of the 83 properties listed, Adelaide 74% of 59 properties and 82% of the 52 properties listed in Canberra.

Nationally, the result translates to 77.8% of 1,449 listings, compared with 74.2% of 1,646 last week and 71.2% of 1,888 last year.

Auctions Up and Hot, Again

CoreLogic’s latest auction data shows there were 2,113 auctions held across Australia’s capital cities this week, a rise from last week, (1,795) yet lower than the 2,654 auctions held at the same time last year. This aligns with APM’s data we discussed on Saturday.

It is expected that auction activity will begin to pick up as we head into the spring selling season. The preliminary auction clearance rate was 76.6 per cent this week, higher than last week’s result of 75.2 per cent and representing another year to date high for the combined capitals. One year ago, the final auction clearance rate was recorded at 73.4 per cent, lower than what is currently being observed. Over winter 2016, clearance rates has ranged from a low of 65.7 per cent to a high of 76.6 per cent, compared to last winter where the weekly clearance rate remained above 70 per cent each week for the entire winter season, peaking at 78.5 per cent at the start of June.

More Strong Auction Results Today

According to the latest APM PriceFinder provisional auction results, there was another strong result today. This confirms the strong demand for property, especially in the south-eastern states and points to continued momentum into the spring.

Nationally, there were 1,646 properties listed, with 77.5% clearance, compared with 73.1% last week, and 73.3% this time last year, albeit off a higher number of listings.

In Sydney, 80.7% were cleared from the 574 listings, compared with 78% last week and 72.5% last year. Melbourne achieved 77.9% clearance from the 877 listings, compared with 73.2% last week and 76.9% last year, again from a higher number of listings. Of the 53 listings in Canberra, 79% cleared; of the 86 in Brisbane 49% cleared; and in Adelaide of the 56 listed, 61% cleared.