Auction Activity Remains Stable This Weekend: A Closer Look at Recent Trends

Auction activities across Australia have shown stability this weekend, with a total of 2,525 auctions conducted, an increase from last week’s 1,955 auctions and higher than the 2,275 held this time last year. CoreLogic’s data indicates a preliminary nationwide success rate of 66.9%, a slight improvement from last week’s 63.9% and a touch above the 65.2% seen in the final numbers.

Here’s a breakdown of success rates by region:

Sydney: 736 out of 1,004 auctions, with a preliminary success rate of 69%

Melbourne: 785 out of 1,044 auctions, with a preliminary success rate of 64.8%

Brisbane: 152 out of 216 auctions, with a preliminary success rate of 62.5%

Adelaide: 83 out of 164 auctions, with a preliminary success rate of 67.5%

Canberra: 52 out of 83 auctions, with a preliminary success rate of 71.2%

Perth: 9 out of 13 auctions completed

Tasmania: Hosted a single auction

The increase in auction numbers and stable success rates suggest a resilient market. With the ongoing fluctuations, staying updated on auction trends is essential for buyers, sellers, and investors alike.