Login
iscover
The Anzac Day long weekend has been identified as the main driver behind a decrease in the volume of auctions held across Australia’s capital cities.
Although the 1,813 homes taken to auction across the capital cities this weekend is an increase on the 926 auctions held the weekend before, over the Easter long weekend, it is a decrease from the 2,087 held in the combined capital cities this time last year.
The combined capital cities have collected 1,414 results so far, representing a preliminary clearance rate of 67.6 per cent, the lowest preliminary clearance rate recorded this year. Compared to the clearance rate of 77.2 per cent recorded at this time last year, this week’s results are a continuation of the downwards trend seen across the combined capital cities this year.
Adelaide was the only capital city to increase its preliminary clearance rate from this time last year, up to 80.4 per cent over the weekend from 162 homes auctioned, while Brisbane reported a 66.3 per cent preliminary clearance rate from 148 auctions and Canberra a 72.2 per cent preliminary clearance rate from 80 auctions.
Meanwhile, Perth saw just 15 auctions held across the Anzac long weekend, with a preliminary clearance rate of 41.7 per cent, while Tasmania hosted a single auction over the weekend.
For Sydney, 721 auctions were held across the weekend, up from the 480 conducted across the Easter long weekend, but a decrease on the 794 held this time last year. The 721 auctions held resulted in a 64.5 per cent preliminary clearance rate, again an increase on the 58.9 clearance rate seen at the Easter long weekend, which was the lowest recorded since the week ending on 23 January.
North Sydney and Hornsby hosted the highest number of auctions (107), with 60 of these auctions clearing, while the highest clearest rate was for auctions in Parramatta, with 73.9 per cent of the 63 auctions held in the suburb over the weekend clearing.
For Melbourne, 686 homes were taken to auction over the Anzac Day weekend, a significant increase from the 196 held across the Easter long weekend, with preliminary clearance rate sitting at 68.3 per cent so far, the third-highest of the major capital cities from the weekend.
Closer analysis revealed West Melbourne hosted 110 auctions over the weekend, making it the area with the highest number of auctions over the weekend, 93 of these auctions cleared, amounting to a 63.4 per cent clearance rate. Auctions in Melbourne’s south-east had the highest clearance rate at 78.2 per cent, closely followed by the city’s outer east, with a 77.8 per cent clearance rate.
Among the major capital cities, only Sydney, -0.2 per cent, and Melbourne, -0.1 per cent, recorded a decrease in home value for the previous month, with all other major capital cities reporting growth in home price, led by Adelaide, where home values grew by 1.8 per cent.
Newsletter
