Weekly auction clearances – 1 February 2021

Auction volumes and clearances in January show significant increases from last year’s figures, a precursor for what we can expect in 2021.

Here are the highlights of last weekend’s auctions from CoreLogic:

  1. The national auction clearance rate was 81.1% compared to 61.0% this time last year, which was pre-Covid with Sydney and Melbourne in full swing on an upward trajectory post the May 2019 election.
  2. Auction activity ramps up, with 891 homes taken to auction, considerably higher than the 625 this time last year.
  3. All capital city clearance rates are stronger than this time last year.
  4. Melbourne held the most auctions with 388 homes under the hammer, compared with 211 this time last year.
  5. Canberra, Adelaide, Melbourne and Sydney return clearances above 80%, Canberra leading the pack with 84.4%.

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