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Overall auction activity has moderated over the weekend amid the lockdowns in Sydney, Melbourne, and Adelaide, but the overall clearance rate held steady, according to the latest figures from CoreLogic.
Over the weekend, 1,849 homes went into auction, down from the originally scheduled 2,153. Of these auctions, 74.8% returned successful. Over the same week last year, auction markets achieved a clearance rate of 54.1%.
Melbourne hosted the highest number of auctions at 858, 71.9% of which were successful. Around 1,080 auctions were originally set for the city over the weekend.
Sydney's auction market also remained on a lull, hosting only 597 auctions. However, it recorded a higher clearance rate than Melbourne at 74.8%.
Across smaller markets, Canberra was the best-performing capital city auction market with a preliminary auction clearance rate of 94.9%. However, Brisbane held the highest number of auctions at 169.
Here’s the performance of auction markets in each capital city over the recent weekend:
