CoreLogic has released its inaugural auctions report for 2017, which revealed firm auction conditions for both Sydney and Melbourne that are roughly on par with the same weekend last year:
According to CoreLogic, 70.8% of homes put to auction cleared over the weekend, slightly above last year’s 70.1%, although auction volumes were a bit lower (867 versus 916 last year):
As shown above, Sydney’s auction clearance rate was 78.1%, stronger than last year’s 75.0%. However auction volumes were weaker, with 255 homes going under the hammer versus 313 on the same weekend last year:
Melbourne’s auction clearance rate was virtually identical to last year’s (77.5% versus 77.6%), although auction volumes were slightly lower (255 versus 268):
In Adelaide, the third biggest auction market this week, the clearance rate was weaker at 64.3% versus 70.5% in the same weekend last year. However, auction volumes were significantly higher than last year (143 versus 107):
Finally in Brisbane, the auction clearance rate was weak at 58.2%, although it was above the same weekend last year (54.0%). However, auction volumes were lower than last year (99 versus 111):
