Easter auction week breaks record

CoreLogic revealed there were 937 homes up for auction in the capitals combined in the week ending April 17, 2022, making it the busiest Easter on the property data provider’s books.

The previous record holder was Easter 2021, which saw 845 properties go under the hammer across the country.

Of the 670 results collected so far, the data showed that 73.3% resulted in a sale. The preliminary clearance figure is slightly higher than the previous week, when 4,035 properties were auctioned and returned a final clearance rate of 61.7%.

Sydney was the epicenter of the busy week, with a total of 483 properties up for grabs during the generally quiet holiday period. Preliminary results showed a resolution rate of 70.6%, higher than the previous week’s revised success rate of 61.7% out of the 1,490 scheduled auctions.

Meanwhile, Melbourne saw 193 homes put up for auction during the period, resulting in a preliminary clearance rate of 70.4%, down from last week’s final figures of 62.7% on 1,795 houses.

Moving on to smaller capitals, Canberra recorded the highest preliminary clearance rate of 94% of 50 results from 69 scheduled auctions.

In terms of volume, Brisbane was the busiest auction market, with 100 homes auctioned during the week. The Queensland capital recorded a preliminary clearance rate of 71%.

Adelaide bidders saw 72 properties go under the hammer in the period, with a preliminary success rate of 78%.

Meanwhile, PerthPerth, TAS Perth, WA and Tasmania saw eight and 12 auctions, respectively, during the week.

Easter auction week breaks record

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Last update: April 19, 2022

Posted: April 20, 2022