Fewer Homes Taken to Auction Across the Combined Capital Cities Amidst Multiple Lockdowns

With Melbourne, Sydney and Adelaide currently in lockdown, the number of homes taken to auction across the combined capital cities were all down.

There were 858 auctions held across Melbourne this week, down from the 1,087 originally scheduled. The previous week saw 967 homes taken to auction across the city, while this time last year, 540 auctions were held. Of the 700 results collected so far, 71.9 per cent were successful, while 24.1 per cent were reported as withdrawn.

Sydney saw 597 properties taken to auction, down from the previous week which saw 769 homes taken to auction across the city and only 3 more than this week last year (594). Of the 523 results collected so far, 74.8 per cent were successful, while 22.4 per cent have been withdrawn. (Data collected from RP data)

Despite the decrease CoreLogic’s Auction Market Review for the June quarter 2021 shows 31,605 homes were taken to auction across the combined capital cities in the three months to June 2021. These figures make it the busiest quarter for auctions since the December 2017 quarter when 32,408 capital city auctions were held.

Canberra was the best performing capital city auction market this week with a preliminary auction clearance rate of 94.9 per cent, followed by Adelaide at 82.3 per cent. Brisbane was the busiest of the smaller capital cities with 169 auctions held.