CoreLogic’s Auction Market Review for the June quarter 2021 shows 31,605 homes were taken to auction across the combined capital cities in the three months to June 2021.
These figures make it the busiest quarter for auctions since the December 2017 quarter when 32,408 capital city auctions were held.
In comparison
- The March 2021 quarter saw 19,004 homes taken to auction,
- In the June 2020 quarter (when COVID -19 restrictions required a temporary ban on on-site auctions and in-person inspections) there were only 13,783 capital city homes taken to auction.
Eliza Owen, CoreLogic’s Head of Research said the auction market results through the June quarter reflect strong housing market conditions.
“A combined capital city clearance rate of 75.7% sits well above the historic average clearance rate of 63.5%,” Ms Owen said.
“The strong result also coincided with a 6.2% uplift in dwelling values across the combined capitals, well above the previous decade average quarterly growth rate of 1.0%.
“Despite the strong result, there has been an easing in the clearance rate from the March quarter, when 80.0% of properties sold. This reflects a broader loss of momentum in the Australian housing market, as affordability constraints set in, and March looks to be a peak period of growth for the current cycle.”
For more detail stats on state performance and clearance rates go to https://www.corelogic.com.au/news/australian-residential-auction-market-records-busiest-period-2017
