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A total of 706 homes were up for grabs at auction over the last full week of January, marking the return of sales activity for 2023.
It’s an 18.2 per cent boost on the 252 auctions that took place just one week prior — although still sits nearly 40 per cent lower than the abnormal levels reported over the same period in 2022 (1,166).
So far, with 453 results collected, Australian capital city markets are collectively returning a preliminary clearance rate of 67.9 per cent, although CoreLogic does expect this figure to revise lower on final count.
According to the Property Market Indicator Summary for the week ending 29 January, Melbourne led the way, with 259 homes going under the hammer.
That’s a significant boost from the 71 auctions that took place over the week ending 22 January – but far lower than the 294 reported over the same period last year.
The city is reporting a preliminary clearance rate of 68.3 per cent.
Up in Sydney, a total of 202 homes went to auction — a boost on the 56 auctions that took place in the seven days prior.
Citing preliminary figures, the city is reporting a preliminary clearance rate of 71.6 per cent.
Similarly to Melbourne’s results, auction numbers are down in 2022, when 331 auctions were held, albeit with a lower final clearance rate of 66.3 per cent.
Looking to the smaller capitals, Adelaide has recorded a preliminary clearance rate of 76.8 per cent from 105 auctions, while Brisbane’s 59.6 per cent clearance rate came from a total 98 auctions.
In Canberra, just 36 auctions took place, with just over one in two homes up for grabs finding buyers.
Perth and Tasmania both reported just three auctions each over the week.
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