Auction Clearance This Week 15 OCT 2023

In the week’s auction market, various Australian cities continued to display solid performance in terms of auction clearance rates. Auction Clearance This Week 15 OCT 2023, again showed promising outcome for the sellers and real estate agents with buyers fighting for the handful few properties available in the market.

CITY	TOTAL AUCTIONS	AUCTION RESULTS	SOLD PRIOR TO AUCTION	SOLD AT AUCTION	SOLD AFTER AUCTION	PASSED IN	WITHDRAWN	CLEARANCE RATE	CLEARED AUCTIONS	UNCLEARED AUCTIONS
Sydney	918	718	279	234	6	89	110	72.3%	519	199
Melbourne	1012	818	147	406	7	206	52	68.5%	560	258
Brisbane	121	90	23	33	1	29	4	63.3%	57	33
Perth	15	8	2	4	NA	1	1	75%	6	2
Canberra	98	67	16	27	2	17	5	67.2%	45	22
Adelaide	121	65	20	27	NA	15	3	72.3%	47	18
Tasmania	1	1	1	NA	NA	NA	NA	100%	1	NA
Combined Capitals*	2286	1767	488	731	16	357	175	69.9%	1235	532

Combined Capitals: Resilient 69.9 % Auction Clearance This Week 15 OCT 2023

Combined Capitals:

• Total Auctions: 2286
• CoreLogic Auction Results: 1767
• Sold Prior to Auction: 488
• Sold at Auction: 731
• Sold After Auction: 16
• Passed In: 357
• Withdrawn: 175
• Clearance Rate: 69.9%
• Cleared Auctions: 1235
• Uncleared Auctions: 532

Across the nation, the combined clearance rate for the major capitals was 69.9%. Sydney and Adelaide both achieved a clearance rate of 72.3%, while Melbourne and Canberra posted rates of 68.5% and 67.2%, respectively. Despite varying results in different cities, the Australian auction market continues to demonstrate resilience and strength.

Sydney:

• Total Auctions: 918
• CoreLogic Auction Results: 718
• Sold Prior to Auction: 279
• Sold at Auction: 234
• Sold After Auction: 6
• Passed In: 89
• Withdrawn: 110
• Clearance Rate: 72.3%
• Cleared Auctions: 519
• Uncleared Auctions: 199

Melbourne:

• Total Auctions: 1012
• CoreLogic Auction Results: 818
• Sold Prior to Auction: 147
• Sold at Auction: 406
• Sold After Auction: 7
• Passed In: 206
• Withdrawn: 52
• Clearance Rate: 68.5%
• Cleared Auctions: 560
• Uncleared Auctions: 258

Brisbane:

• Total Auctions: 121
• CoreLogic Auction Results: 90
• Sold Prior to Auction: 23
• Sold at Auction: 33
• Sold After Auction: 1
• Passed In: 29
• Withdrawn: 4
• Clearance Rate: 63.3%
• Cleared Auctions: 57
• Uncleared Auctions: 33

Perth:

• Total Auctions: 15
• CoreLogic Auction Results: 8
• Sold Prior to Auction: 2
• Sold at Auction: 4
• Sold After Auction: NA
• Passed In: 1
• Withdrawn: 1
• Clearance Rate: 75%
• Cleared Auctions: 6
• Uncleared Auctions: 2

Canberra:

• Total Auctions: 98
• CoreLogic Auction Results: 67
• Sold Prior to Auction: 16
• Sold at Auction: 27
• Sold After Auction: 2
• Passed In: 17
• Withdrawn: 5
• Clearance Rate: 67.2%
• Cleared Auctions: 45
• Uncleared Auctions: 22

Adelaide:

• Total Auctions: 121
• CoreLogic Auction Results: 65
• Sold Prior to Auction: 20
• Sold at Auction: 27
• Sold After Auction: NA
• Passed In: 15
• Withdrawn: 3
• Clearance Rate: 72.3%
• Cleared Auctions: 47
• Uncleared Auctions: 18

Tasmania:

• Total Auctions: 1
• CoreLogic Auction Results: 1
• Sold Prior to Auction: 1
• Sold at Auction: NA
• Sold After Auction: NA
• Passed In: NA
• Withdrawn: NA
• Clearance Rate: 100%
• Cleared Auctions: 1
• Uncleared Auctions: NA

National Auction Clearance This Week 15 OCT 2023

Compared to last months auction results, the results this week have dropped by a few percentage points. This is also due to wet weather conditions across NSW, VIC and SA.

Reference CoreLogic.