The year has started with relatively solid auction results, with us now in the second week of 2022 with reportable auctions.
Below are auction clearance results reported from yesterday (Saturday 5 February) for our 5 key cities:
Sydney - 79% clearance rate (377 auctions reported)
Melbourne - 71% clearance rate (362 auctions reported)
Brisbane - 79% clearance rate (62 auctions reported)
Adelaide - 81% clearance rate (63 auctions reported)
Canberra - 83% clearance rate (66 auctions reported)
Compare above results with same time last year (Saturday 6 February) for the same 5 capital cities:
Sydney - 87% clearance rate (366 auctions reported)
Melbourne - 74% clearance rate (489 auctions reported)
Brisbane - 55% clearance rate (44 auctions reported)
Adelaide - 76% clearance rate (50 auctions reported)
Canberra - 80% clearance rate (30 auctions reported)
Auction clearance rates are slightly lower for Sydney and Melbourne (our biggest auction markets) compared to last year, however they are slightly higher for Brisbane, Adelaide, and Canberra.
The number of auctions reported are also relatively similar compared to same time last year although Melbourne had around 100 more auctions same time last year.
With most observers and analysts estimating that the market will slowly run out of steam, what do you see in store for the real estate market in 2022?