By Shana Miller

20151221 Capital city

After clearance rates peaked at 82.3 per cent over the Easter weekend in April this year and remained in the high 70’s for the following six weeks, CoreLogic RP Data’s preliminary auction clearance across the combined capital cities was recorded at 60.5 per cent this week, a slight increase from the previous week’s final auction clearance rate of 58.2 per cent, but coming in lower than the clearance rate recorded one year ago (63.6 per cent). Auction volumes remained relatively high over the last auction week of this year, when compared to last year, with 1,808 homes taken to auction this week, compared to 1,702 last year, but far less than over the previous week when 2,989 auctions were held. Overall, the final three months of the year saw 33,594 auctions held, compared to 34,016 a year ago, and with housing market conditions cooling, the proportion of successful auctions has consistently tracked lower than a year ago since late October which is likely to set the scene for more sedate auction conditions as the auction activity restarts in late January.

Melbourne’s auction clearance rate remained relatively strong this week, with 66.7 per cent of the reported auctions sold up from 64.9 per cent last week and 61.5 per cent one year ago. This week, Melbourne was host to a total of 882 residential auctions, down from 1,572 last week and higher than one year ago (639). Activity across the city this week brings the total number of auctions held across the city for 2015 7.6 per cent higher than 2014. To finish of the year, Melbourne’s best performing sub-regions for clearance rates were the Inner South region at 80.7 per cent across 57 auction results and Melbourne’s West at 73.2 per cent across a total of 112 reported auctions.

Far from the heights recorded at the start of the year, Sydney’s last preliminary auction clearance rate for the year was recorded at 60.3 per cent, higher than last week (54.7 per cent) but substantially lower than at the 74.5 per cent recorded over the final week of 2014. After a record breaking year, where Sydney’s auction clearance rate was recorded above the 80 per cent for 22 consecutive weeks, the market has begun to moderate and has now retracted back to 2012-13 levels. Despite the lower clearance rate, there are still pockets across Sydney where auction performance is strong. This week the Sydney’s City and Inner South region’s clearance rate was 85.3 per cent across 34 results, while Eastern Suburbs (79.2 per cent) and North Sydney and Hornsby (76.7 per cent) both recorded a strong clearance rate, albeit on relatively low auction volumes.

20151221 Sydney

Across Brisbane, 190 auctions were held this week with 114 results reported so far. The preliminary clearance rate for the city was 50.9 per cent, strengthening from 41.9 per cent last week and on par with one year ago (50 per cent). Further south, across the Gold Coast there were 59 auctions held this week, with 30 results reported so far. The preliminary clearance rate for the region was 36.7 per cent.

20151221 Brisbane

This week, 113 auctions were held across Adelaide with the city’s preliminary clearance rate recorded at 59.8 per cent, up from 49.3 per cent last week, when the city saw its lowest clearance rate for 2015. One year ago, 129 Adelaide auctions were held with a success rate of 53.6 per cent.

20151221 Adelaide

Perth’s preliminary clearance rate this week is just 25.9 per cent, falling from 36.2 per cent last week and lower than 43.8 per cent one year ago. There were 67 Perth auctions held this week, with 54 results reported so far.

Across Canberra 95 auctions were held this week with a preliminary clearance rate of 53.1 per cent, up from 48.6 per cent last week and 47.5 per cent last year.

18 Tasmanian auction results have been reported with week with 6 sales.

Source: RPD

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