Auctions Improving

Auctions Improving

August 21, 20261 min read

After a few tough weeks, auction clearance rates have now hit a 12-week high.

Capital city clearance rates last week were 51.4%, as the number of properties being offered under the hammer remains low.

According to Cotality data, 1,382 properties were taken to auction last week – up 9.9% on the previous week, but below the same time as last year.

Cotality economist Annabelle Mezieres says clearance rates improved even though more homes went to auction in most of the capital cities.

Melbourne performed the best with its clearance rate hitting 56.8% - the highest result since early May.

Sydney’s clearance rate is up to 51.5% and Adelaide increased to 46.8% while Brisbane’s clearance rate dropped to 35.4%.

Mezieres expects auction volumes to rise over the next fortnight, with about 1,390 homes scheduled in each of the next two weeks, around 5% above this week's volumes.

Mezieres says it appears more stock is coming onto the market as spring approaches.

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