Auction Clearance Rates - Sold to Listed - June 4th

Please note the following is based off preliminary numbers and is subject to significant changes once unreported auctions are chased up.

It should be taken as an extremely rough and preliminary indicator, before other data sources fill in the blank later next week.

For those wanting more accurate data with the missing pieces filled in, that is posted here by the great team at SQM Research on Tuesdays.

Auction Action Summary

Another weekend of weak results for the Sydney and Melbourne markets, with a rather sizable 34.7% of results in Sydney not reported by agents to Domain as of the preliminary data.

While we haven’t seen too much evidence of a deterioration of the auction clearance rates post rate rise, total auction volumes are showing the strain, down by 23.6% in Sydney and 20% in Melbourne, as sellers increasingly reconsider putting their properties under the hammer.

It should also be noted that we are moving into a period where comparisons with last year are starting to become problematic due to the impact of Covid-19 and later lockdowns in Sydney and Melbourne during 2021.

Q&A

Why are these numbers different to those provided by Corelogic or Domain?

This data is based upon the percentage of scheduled auctions that resulted in a sale of the property as of the time of the initial reporting by agents on Saturday evening.

The data from Corelogic and Domain is based upon the number of successful auctions divided by the number of auctions reported by agents and other property industry figures.

— I collect the data and put these roundups together entirely in my own time. If you would like to help support my work by donating that would be much appreciated, you can do so via Paypal here or via Buy me a coffee.