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Auction activity across capital cities continues to recover from the Eastern slowdown, latest figures from CoreLogic show.
Capital cities hosted 2,448 auctions over the weekend, which returned a preliminary success rate of 80.5%. This was an improvement from the auction volume of 2,199 and a clearance rate of 79.4% over the preceding weekend.
Compared to last year, the recent auction results were substantially more robust. During the period, only 30% of the 1,922 auctions turned into a successful sale. This was due to the pandemic-related restrictions on onsite auctions and physical home inspections.
Of all capital cities, Melbourne recorded the highest activity over the weekend, hosting 1,204 auctions. However, Sydney still had the highest proportion of successful sales, with 84.8% of 913 auctions being cleared.
Across the smaller cities, Canberra continued its robust performance. It hosted 112 auctions, 87.4% of which turned into a sale. This was the highest clearance rate across all capital cities over the period.
Houses still dominated the auction market, accounting for 1,827 of all activity. Around 84% of auctioned houses were sold.
The table below shows the performance of each capital city over the weekend:
