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Despite the uncertainty surrounding the recent US tariff announcements, the preliminary clearance rate across the combined capitals surged upward during the week ending 6 April 2025.
The latest Property Market Summary from CoreLogic, which will soon rebrand to Cotality, showed that nationwide, 2,532 properties were auctioned off in the week ending 6 April 2025.
While the activity marks a decline from the 2,873 auctions held during the previous week ending 30 March 2025, it is still higher than the 1,985 properties auctioned off this time the year prior.
Despite the decreased activity, the preliminary clearance rate came in at 70.7 per cent across the combined capitals.
The outcome was both the highest preliminary clearance rate result in six weeks and the first time the combined capital early rate has risen above the 70 per cent mark since the week ending 23 February earlier this year.
CoreLogic noted that most cities recorded a rise in the preliminary clearance rate, demonstrating a broad-based improvement in auction trends despite the uncertainty of US tariff announcements and subsequent volatility in global share markets last week.
Melbourne came in as the busiest auction market last week with 1,192 homes going under the hammer, and recorded a preliminary clearance rate of 72.9 per cent, the city’s highest early clearance rate since July of last year.
Sydney hosted 943 auctions last week and recorded a preliminary clearance rate of 69.1 per cent, marking an increase from the early rate of 65.5 per cent recorded a week earlier, but still well below the mid-February high point where the city’s early clearance rate reached 76.6 per cent.
Brisbane hosted 170 auctions – the highest volume across the less populous cities last week – but registered a preliminary clearance rate of 58.3 per cent.
Brisbane was the only capital to record a slip in the early clearance rate compared to the week prior.
Adelaide hosted 123 homes last week and returned a preliminary clearance rate of 87.8 per cent, marking the city’s highest early rate since the outcome of 88.9 per cent recorded in the week ending 11 August last year.
Of the 90 homes taken to market across the ACT, 63.3 per cent have returned a positive result so far, which was the city’s highest preliminary clearance rate in four weeks.
Out of the 12 homes taken to auction in Perth, seven results have been revealed, in which three houses were successfully sold.
In Tasmania, the two homes taken to auction were both passed in.
CoreLogic revealed that the volume of auctions is set to bounce higher this week, rising to around 2,860 in the week ending 13 April 2025, before dropping to around 550 the week after due to the Easter long weekend.
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