Login
iscover
Despite auction volumes soaring to their highest for the year, the preliminary clearance rate across the combined capitals for the week ending 30 March 2025 has not shown the same growth.
The latest Property Market Indicator Summary from Cotality (formerly known as CoreLogic) showed that nationwide, 2,905 properties were auctioned off in the week ending 30 March 2025.
This activity marks the highest volume of auctions since the final week of October in 2024, when 3,135 homes were taken to auction.
Despite the increased activity, the preliminary clearance rate came in at 66.1 per cent across the combined capitals, which was the lowest early outcome since the week ending February 2 before the rate cut, when 65 per cent of auctions were successful.
Even with this reduction, Cotality noted that auction clearance rates have continued to track above the levels recorded through late last year when preliminary clearance rates were consistently holding in the low 60 per cent range.
Melbourne came in as the busiest auction market for the week ending 30 March 2025, with the 1,382 homes that went under the hammer representing the city’s second highest volume of auctions so far this year.
After holding a preliminary clearance rate of 70 per cent over the past six weeks, Melbourne’s early rate declined to 67.2 per cent last week, which was down 3.4 percentage points from the 70.6 per cent recorded in the week ending 23 March 2025.
Sydney hosted 1,122 auctions last week, which was the city’s highest volume since the last week of September 2024 when 1,199 homes were taken to auction.
Sydney’s preliminary clearance fell to 65.5 per cent, which registered as the city’s lowest early rate since the week ending 15 December last year when only 63 per cent of auctions were successful.
Brisbane hosted the most auctions across the less populous cities last week, with the 173 homes taken to auction marking the city’s third busiest volume so far this year.
While Brisbane’s preliminary clearance rate of 59.5 per cent last week was down from 61.5 per cent in the week ending 23 March 2025, the city’s most recent early rate still came in as the second highest of the year so far.
Adelaide hosted 139 auctions last week, the city’s highest volume in four weeks, and registered an early clearance rate of 75.6 per cent, an uplift from 60.8 per cent the week prior.
In addition to the 72 auctions held across the ACT last week falling from 78 the week prior, the market’s preliminary clearance rate also fell to 50.9 per cent, marking the ACT’s lowest early rate of the year so far.
Out of the 14 auctions held in Perth last week, the results of seven auctions have been revealed, in which four houses were successfully sold.
In Tasmania, three homes were taken to auction, with the outcome of one auction not yet being revealed, and two houses having been successfully sold.
Cotality revealed that the volume of auctions is set to ease this week, with approximately 2,350 homes scheduled to go under the hammer in the week ending 6 April 2025, before rising the week after to around 2,800.
You are not authorised to post comments.
Comments will undergo moderation before they get published.