The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Urban Leader Awards Logos RGB White
NOMINATIONS CLOSE SEPTEMBER 12 RECOGNISING THE INDIVIDUALS BEHIND THE PROJECTS
NOMINATIONS CLOSING SEPTEMBER 12 URBAN LEADER AWARDS
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
6
print
Print
ResidentialThu 25 Oct 18

Auction Rates Will Decline Further: Corelogic

bcc75a91-9e63-4234-813f-d97f4c0faab4

Auction clearance rates continue to slide for a fourth consecutive week further highlighting poor market conditions and current negative sentiment.

According to Corelogic, the once reliable spring selling season has succumbed to market pressures with just 46 per cent of homes sold at auction last week.

The highest clearance rate for 2018 was back in late February hitting 66.8 per cent.

Auction volumes are now tracking at their lowest level over the spring period this year relative to the same period over the past five years.

Related: Sydney and Melbourne House Prices Will Fall 20%: AMP


Capital city auction statistics

CityTotal auctionsCorelogic auction resultsCleared auctionsUncleared auctionsClearance rate
Sydney67555424730744.6%
Melbourne1,08793742850945.7%
Brisbane129113437038.1%
Adelaide127118734561.9%
Perth3929111837.9%
Canberra8175403553.3%
Weighted Average2,1391,82784298546.0%


Sydney’s clearance rate which saw 61.3 per cent of auctioned properties sold the corresponding week a year ago, only managed 44.6 per cent this past week.

In Melbourne, 45.7 per cent of homes sold at auction last week, compared to 70.3% level seen one year ago.

Brisbane bottomed out with 38.1 per cent of auctioned houses clearing from the 129 auctions that took place last week.

There were 2,139 homes taken to auction, having increased on the 1,851 auctions held over the week prior when a marginally higher 47 per cent cleared.

This time last year, 2,519 homes were auctioned across the combined capitals returning a final auction clearance rate of 64.7 per cent.

Related: Weak Market Conditions to Impact House Prices: Report


Weekly clearance rate, combined capital cities

Image: Corelogic


The combined capital cities are now expected to see an uplift in auction activity this week, with 2,782 homes scheduled to go under the hammer.

This is an increase of 30 per cent when compared to last week’s final results which saw 2,139 properties taken to auction.

Sydney volumes will host 756 auctions, while Melbourne will see an increase of more than 500 from the prior week to 1,630 auctions.

Across the remaining auction markets, volumes are higher across Brisbane and Canberra, while activity across Adelaide and Tasmania will remain steady, and Perth will host 20 per cent fewer auctions.

Residentialdo not usePerthMelbourneCanberraBrisbaneAdelaideSector
ADVERTISEMENT
TOP STORIES
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
Woolloongabba Precinct Vulture St
Exclusive

Brisbane Developer in Cross River Rail Compensation Tussle

Clare Burnett
4 Min
The Mondrian Gold Coast hotel's food and beverage is driving profits
Exclusive

Touch, Taste, Theatre: What’s Driving Mondrian’s Success

Renee McKeown
6 Min
Fortis’ display suites are designed as brand environments first, with tactile details and curated design to build buyer confidence before project specifics.
Exclusive

Relevant or Redundant: Will Tech Kill Display Suites?

Vanessa Croll
7 Min
Exclusive

Missing Heart: Why The Gold Coast Needs a CBD

Phil Bartsch
7 Min
View All >
JQZ Parramatta EDM
Residential

JQZ Plots 10-Storey Addition to Parramatta ‘Auto Alley’ Plans

Clare Burnett
South Melbourne social housing precinct
Affordable & Social Housing

South Melbourne Housing Precinct Revamp Takes Next Step

Leon Della Bosca
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
The property giant’s strategic shift to higher density is in full flight as details of two landmark projects are made pu…
LATEST
JQZ Parramatta EDM
Residential

JQZ Plots 10-Storey Addition to Parramatta ‘Auto Alley’ Plans

Clare Burnett
3 Min
South Melbourne social housing precinct
Affordable & Social Housing

South Melbourne Housing Precinct Revamp Takes Next Step

Leon Della Bosca
2 Min
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
Aerial view of Caboolture and Bruce highway to Brisbane with Bribie Island Road crossing, Queensland, Australia
Policy

Queensland’s $2bn Push Opens New Housing Front

Vanessa Croll
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/auction-rates-are-now-below-50-per-cent-