Auction rollercoaster continues through Anzac weekend
Easter's impact on auction rates saw the lowest numbers since January - and a drop on the same period last year.
AUCTION numbers will rebound back above 1,000 this weekend after the traditional Easter slump.
Just 652 homes went under the hammer last week, returning a clearance rate of 64.7 per cent.
That was down from 3,066 week before, according to CoreLogic’s Tim Lawless.
“The drop in activity is typical over the Easter long weekend, but activity was well down on the Easter period a year ago when 901 homes were auctioned,” he said.
“Auction volume should bounce back to around 1,060 next week before rising to around 1,480 the week after.
“However, post-Easter auction activity is normally lower than pre-Easter until the spring season commences.”
Because of the lower volume, the preliminary auction statistics should be interpreted with some caution, he added.
The preliminary clearance rate across the combined capitals fell to 64.7 per cent, the lowest so far this year – excluding the volatile January results, down slightly from the week prior – which stood at 64.8 per cent, which revised down to 57.6% on final numbers.
Sydney hosted the most auctions, with 358 homes going under the hammer, down from 414 auctions over the Easter period a year ago.
The preliminary clearance rate rose a little, coming in at 67.9 per cent compared with 65.5 per cent a week ago, but the fifth week running where the early clearance rate has been sub-70 per cent.
There were 153 homes taken to auction in Melbourne, down from 283 held over the Easter period in 2024.
The early clearance rate dropped sharply, falling to 61.1 per cent which was the lowest preliminary result since September last year.
Across the smaller capitals, Brisbane was home to 60 auctions, returning a preliminary clearance rate of 55.0 per cent.
Adelaide saw 51 homes go under the hammer and a 68.6 per cent clearance rate, while 28 home were auctioned in the ACT with a 55.6 per cent clearance rate so far.
