Auction Clearance This Week 26 August 2023
The property market was full of activity this week, marked by another good set of results in auctions. All capital cities except Canberra showed positive signs in the auction clearance rate. South Australia showed the best sales results second week in a row.
Combined Capitals: A Panorama of Auction Clearance
When we cast our gaze across the combined capitals, a mesmerizing tapestry of 2276 auctions unraveled. This symphony of auctions was complemented by 1429 auction results, each contributing to the grand narrative of real estate dynamics. The collective rhythm of these auctions harmonized through a clearance rate of 74.4%, where 1060 properties embarked on new journeys, while 369 lots unfurled stories of anticipation.
Sydney: A Success Story in Clearing the Market
The vibrant city of Sydney set the stage for a flurry of 891 auctions, echoing the bustling nature of the metropolis itself. The auction results clocked in at 577, carving a path of expectations for potential buyers and sellers. An impressive clearance rate of 77.1% underscored the dynamic nature of the auctions, with 445 properties finding new owners and 132 lots remaining unclaimed. The intricate dance of numbers reflects a landscape where success and anticipation entwine.
Melbourne: An Auction Melody in Multitude
The thriving heart of Melbourne bore witness to a staggering 1042 auctions, presenting a rich spectrum of real estate possibilities. The gavel’s resonance echoed through the corridors as 674 auction results painted a picture of auction dynamics. With a clearance rate of 72%, 485 properties found their haven, while 189 remained undiscovered by their rightful owners. This mosaic of numbers echoes the diverse rhythms of Melbourne’s real estate ecosystem.
Brisbane: Weaving Dreams through Auctions
In the sunny embrace of Brisbane, 122 auctions unfolded, casting a spotlight on this vibrant city’s property aspirations. A tapestry of 68 auction results unfolded, revealing stories of anticipation and acquisition. The pulse of the market resonated through a clearance rate of 75%, with 51 properties transitioning to new owners and 17 lots basking in the light of possibility.
Perth: Unraveling Auction Potential
Perth, a city of dreams and aspirations, saw 11 auctions take center stage. Amidst the curated collection of auction narratives, 6 auction results emerged, narrating tales of bids and aspirations. With a clearance rate of 16.7%, the market saw 1 property find its new steward while 5 lots continued their journey, awaiting the embrace of ownership.
Canberra: Auctioning Visions of Tomorrow
The capital city of Canberra welcomed 83 auctions into its fold, a reflection of its vibrant real estate canvas. Amidst the spectacle of these auctions, 50 auction results graced the stage. The rhythm of the market echoed through a clearance rate of 60%, with 30 properties finding their place under new ownership while 20 lots retained their stories for the chapters ahead.
Adelaide: Unveiling Success Stories
Adelaide, a city of allure and promise, set the scene for 127 auctions. These auctions narrated tales of aspirations and acquisitions, culminating in 54 auction results. The dance of numbers reverberated through a remarkable clearance rate of 88.9%, where 48 properties were warmly embraced by new owners, while 6 lots journeyed on with their narratives.
Tasmania: A Blank Canvas Awaits
In the pristine landscapes of Tasmania, the auction stage remained vacant, a tableau awaiting the vibrant brushstrokes of future auction narratives.
National Auction Clearance
Reference Corelogic.
