Domain Auction Preview – November 13, 2021

Auction volumes

Table 1. Upcoming auction summary, November 13, 2021

City	Auctions scheduled	Weekly change	Annual change	5-year comparison
Sydney	960	0.0%	30.6%	30.4%
Melbourne	1179	10.3%	160.8%	9.6%
Brisbane	123	-18.5%	156.3%	-24.1%
Adelaide	157	12.1%	214.0%	98.7%
Canberra	83	6.4%	36.1%	15.3%
Perth	10	0.0%	-37.5%	-76.7%
Darwin	5	150.0%	400.0%	25.0%
Hobart	–	–	–	–
National (combined cities)	2,517	4.4%	84.7%	15.8%

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There are 2517 auctions scheduled across the capitals this week, up 4.4 per cent compared to last week. Overall, national volumes continue the trend of consecutive growth, overtaking last week as one of the busiest of the year. Auction listings are higher or remain steady in all capitals this Saturday, except Brisbane, which had its busiest week of the year last Saturday, as sellers become more confident after the end of lockdowns.

Adelaide maintains its strong growth in listings, recording the busiest auction week of the year with 157 scheduled. This surpasses its record from two weeks ago and shows the strongest weekly growth of the capital cities, up 12.1 per cent.

Weekly change in auction volumes:

• Adelaide is up 12.1 per cent
• Melbourne is up 10.3 per cent
• Canberra is up 6.4 per cent
• Sydney is steady
• Perth is steady
• Brisbane is down 18.5 per cent

 Figure 1. Saturday auction volume, combined capitals

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It is insightful to see how volumes for this week are tracking compared to their long-term November auction volume average as national auction listings continue to rise. This gives a strong indication of how volumes compare this week after taking into account seasonal variation.

Upcoming Saturday volumes compared to a typical five-year November average across the major auction markets:

• Nationally, volumes are 30.1 per cent higher
• Melbourne is up 25.5 per cent (typical November Saturday average analysed from 2016-2019).
• Sydney is up 23.9 per cent
• Canberra is up 4.1 per cent

Auction results

Table 2. Saturday auction results, November 6, 2021

City	Clearance rate	Weekly Change	Auctions scheduled	Auction sold	Sold prior	Withdrawn
Sydney	77.4%	1.3%	960	624	41.1%	14.4%
Melbourne	72.6%	-1.2%	1,069	643	29.3%	13.1%
Brisbane	85.4%	20.6%	151	76	38.2%	7.9%
Adelaide	81.6%	8.1%	140	93	20.2%	5.3%
Canberra	84.9%	-2.4%	78	62	32.9%	4.1%
National	76.1%	1.6%	2,410	1,499	34.1%	12.6%
* Geographies are based on ABS GCCSA geography. Auction reporting rates are 84 per cent in Sydney, 83 per cent in Melbourne, 59 per cent in Brisbane, 81 per cent in Adelaide and 94 per cent in Canberra. The results will be revised as more auction results are collected. Of the scheduled auctions in Sydney, 8 per cent were postponed. Of the scheduled auctions in Melbourne, 9 per cent were postponed. Postponed auctions are not classified as a reported auction, and therefore this has a negative impact on the reporting rate.

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Last Saturday saw a marginal rise in the national clearance rate from last week. Of the smaller capital cities,  Brisbane, Adelaide and Canberra all returned a clearance rate above 80 per cent. Weekly growth is slowing overall, with softer clearance rates in Sydney and Melbourne despite rising volumes.

Weekly change in auction clearance rates, rising:

• 20.6 percentage points in Brisbane
• 8.1 percentage points in Adelaide
• 1.3 percentage points in Sydney

And declining:

• 1.2 percentage points in Melbourne
• 2.4 percentage points in Canberra

Figure 2. Saturday clearance rate, combined capitals

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Region results

Table 3. Region breakdown of auction clearance rates

State	Region	Scheduled auction	Collected auctions	Clearance rate
NSW	Capital Region	12	11	90.9%
NSW	Central Coast	29	22	72.7%
NSW	Hunter Valley Exc Newcastle	13	11	90.9%
NSW	Newcastle And Lake Macquarie	39	31	83.9%
NSW	Sydney – Baulkham Hills And Hawkesbury	29	22	50.0%
NSW	Sydney – Blacktown	29	23	65.2%
NSW	Sydney – City And Inner South	89	75	80.0%
NSW	Sydney – Eastern Suburbs	84	68	80.9%
NSW	Sydney – Inner South West	122	108	77.8%
NSW	Sydney – Inner West	89	77	81.8%
NSW	Sydney – North Sydney And Hornsby	163	135	74.1%
NSW	Sydney – Northern Beaches	75	71	80.3%
NSW	Sydney – Parramatta	84	68	82.4%
NSW	Sydney – Ryde	63	55	85.5%
NSW	Sydney – South West	52	36	75.0%
NSW	Sydney – Sutherland	39	34	73.5%
QLD	Brisbane – South	58	33	90.9%
QLD	Brisbane Inner City	33	15	86.7%
QLD	Gold Coast	32	22	72.7%
SA	Adelaide – Central And Hills	35	31	80.6%
SA	Adelaide – North	36	25	72.0%
SA	Adelaide – South	34	28	92.9%
SA	Adelaide – West	35	30	80.0%
VIC	Geelong	43	39	87.2%
VIC	Melbourne – Inner	209	169	64.5%
VIC	Melbourne – Inner East	148	120	82.5%
VIC	Melbourne – Inner South	123	102	76.5%
VIC	Melbourne – North East	131	118	72.9%
VIC	Melbourne – North West	102	89	68.5%
VIC	Melbourne – Outer East	80	73	75.3%
VIC	Melbourne – South East	93	74	71.6%
VIC	Melbourne – West	144	112	73.2%
VIC	Mornington Peninsula	39	29	69.0%

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Methodology

The Domain auction clearance rate is the percentage of properties successfully sold prior to or at an auction. The clearance rate is calculated by dividing auction sales by the number of reported auctions, including those withdrawn or postponed.

Domain aims to collect all auction outcomes, which can take longer in some states. Clearance rates for cities with a reporting rate below 95 per cent are considered to be preliminary. Perth, Hobart and Darwin are not included either due to the low volumes of scheduled auctions or the lag-time in collections.

Auctions scheduled: The number of all auctions scheduled for the day, including those that were withdrawn from auction at the last minute. Reporting rate: The number of auction results collected by Domain out of the total auctions. Auction sold: Property sold under auction conditions or prior to auction. Withdrawn: Property did not go to auction. Passed in: Property did not sell at auction. For the purpose of calculating auction clearance rates, properties sold after auction are considered to be passed-in.