There was a significant drop in auction numbers across the combined capital cities this week, with a total of 889 auctions held. The lower activity is the result of a number of states being host to a long weekend as well as both the AFL and NRL grand finals taking place.

Preliminary results show a clearance rate of just 49.1 per cent, down from 52.4 per cent last week when final results saw volumes reach their highest level since the last week of April (2,404).

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Over the same week last year, 969 homes were taken to auction returning a clearance rate of 66.3 per cent.

Brisbane

There were 91 auctions held in Brisbane this week, down from 124 over the previous week.

The preliminary clearance rate of 36.1 per cent is down from 43 per cent last week.

One year ago, 142 auctions were held and the clearance rate came in at 49.5 per cent.

Jason Adcock of Adcock Prestige auctioned a property which passed in, at 41 Brisbane Corso, Fairfield.

The home passed in for $3 million with three registered bidders, but is still in negotiations.

“We probably have another couple of offers coming in, and I am reasonably confident it will sell this week,” Mr Adcock told WILLIAMS MEDIA.

“We did a very extensive digital marketing campaign with a massive social media presence on Facebook, Instagram and LinkedIn.

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“The market in Fairfield is strong. This property isn’t a typical Fairfield property, as it has absolute river frontage.

“This property is only 4km from the city, with no work needed to be done.”

Justin Nickerson, auctioneer at Apollo Auctions was auctioneering in Brisbane this weekend, and said the long weekend didn’t have much of an effect.

“The actual results were pretty conducive to what they have been in the last few weeks prior,” Mr Nickerson told WILLIAMS MEDIA.

“People say public holidays have a large impact on results, but this isn’t true in my experience.

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“Clearance rates stay consistent. The most fluctuating statistic is attendance rather than results.”

“I had a high number of properties that sold prior to auction, and of the ones left, clearance hovered around mid 40 to 50 per cent.”

“I am finding sold prior numbers are increasing. It is a reflection of sellers not wanting to risk things."

Mr Nickerson said they are more inclined to take what's in front of them rather than take a chance.

Melbourne

Melbourne saw the most significant drop in volumes this week with only 69 homes taken to auction returning a preliminary auction clearance rate of 55.6 per cent, while last week there were 1,161 auctions held and the final clearance rate came in at 53.8 per cent.

This time last year, 122 auctions were held across the city, returning a clearance rate of 87.0 per cent.

Sydney

There were 601 auctions held in Sydney this week, down from 851 over the previous week.

The preliminary clearance rate of 49.2 per cent is down from 51.1 per cent last week. One year ago, 607 auctions were held and the clearance rate came in at 64.9 per cent.

Leanne Pilkington, president of the Real Estate Institute of New South Wales said “With a long weekend focused on grand final football there was no surprise that auction numbers in Sydney were down”.

Related reading: $100 million sale of Fairwater, Australia’s most expensive home

Adelaide

There were 44 auctions held in Adelaide this week, down from 121 over the previous week.

The preliminary clearance rate of 58.3 per cent is down from 63.6 per cent last week.

One year ago, 40 auctions were held and the clearance rate came in at 71.1 per cent.

Perth

There were 9 auctions held in Perth this week, down from 30 over the previous week.

The preliminary clearance rate of 0 per cent is down from 30.8 per cent last week.

One year ago, 13 auctions were held and the clearance rate came in at 70 per cent.

Canberra

There were 71 auctions held in Canberra this week, down from 118 over the previous week.

However the preliminary clearance rate of 61.5 per cent is up from 55.9 per cent last week.

One year ago, 44 auctions were held and the clearance rate came in at 75.7 per cent.

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