Buyers keen to bid on 550 capital city Anzac week auctions: CoreLogic RP Data

Buyers keen to bid on 550 capital city Anzac week auctions: CoreLogic RP Data
Jessie RichardsonDecember 7, 2020

Vendors shied away from auctions this weekend out of respect for Anzac day commemorations.

According to CoreLogic RP Data, there were 550 auctions across Australian capital cities in the week to April 26. Last week, there were 2,603 capital city auctions.

There were around 150 auctions actually scheduled across Australia on Anzac Day, with many sold before auction.

This week's auctions saw a capital city clearance rate of 84.3%, up from last week's 78.9% clearance rate.

Sydney recorded an a particularly high clearance rate of 91.1% over the week. There were 249 auctions there in total, with RP Data collecting results for 192 of those auctions. The clearance rate, likely bolstered by the low number of auctions on the weekend, comes after a record breaking 87% clearance rate in Sydney last week, when 988 auctions took place.

On week last year, which did not have Anzac Day fall on a Saturday, Sydney recorded a 71.3% clearance rate.

There were 169 auctions in Melbourne this week, with a clearance rate of 87.4%. Last week, 1,266 auctions occurred across Melbourne, with a 79.5% clearance rate. Melbourne's inner city and the inner south region were particularly busy this week, despite the Anzac day commemorations, with around 26 auctions occurring in each area.

Last week, Victorian premier Dan Andrews called conducting auctions on Anzac Day "pretty ordinary", while the Real Estate Institute of Victoria discouraged agents from auctioning properties on the day.

In Brisbane, there were 39 auctions. Of the 11 results reported so far to CoreLogic RP Data, 10 were sales. The previous week, there were 140 auctions held across the city, with a 46.4% clearance rate. The Gold Coast recorded 32 properties up for sale, with sales comprising around half of the reported results.

The Real Estate Institute of Queensland also instructed members to avoid auctioning homes on Anzac Day.

Adelaide had 59 auctions scheduled for this week. So far, 20 results have been reported to CoreLogic RP Data, with a 55.0% success rate. Last week, there was a 69.7% clearance rate across the city's 97 auctions.

Just 10 auctions took place in Perth this week, with just two results reported. In Canberra, there were 23 auctions, with 11 of the 14 reported auctions resulting in success.

Just one Tasmanian property was auctioned this weekend, resulting in a sale.

Editor's Picks