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It’s what all of the nation is talking about right now: the exploding property market.
Week after week, it feels like 2021 has been the year of unprecedented real estate market conditions, with weekend auction clearance rates holding at record highs which is in turn helping to drive record-level home price growth.
According to the latest data from CoreLogic, the combined capital clearance rate was recorded at 80% over the March 2021 quarter, a significant bump from 69.4% over the December quarter and 62.5% over the March 2020 quarter.
The weekly auction clearance rate across the combined capitals has been at or above 80 per cent just five times since 2008, and four of those were in March 2021. The week ending 28th March 2021 recorded the highest auction clearance rate on record (83.1%), while also being the busiest week for auctions since late March 2018.
Auction clearance rates are extremely valuable in understanding the real estate market, namely how many properties are going to auction and end up clearing and selling at auction. This will give you a solid understanding of demand for a property in a certain area, which in turn should inform your property research whether you’re buying or selling a property, as well as how best you should negotiate.
Auction clearance rates can be extremely valuable in understanding how many properties that actually go to auction end up clearing and selling at auction. This can give you a great idea of demand in the area, as well as how you should negotiate.
This 2021 quarter in the capital cities
| Capital city | Clearance rate (Mar Qtr '21) | Total auctions (Mar Qtr '21) | Clearance rate (Dec Qtr '20) | Total auctions (Dec Qtr '20) | Clearance rate (Mar Qtr '20) | Total auctions (Mar Qtr '20) |
|---|---|---|---|---|---|---|
| Sydney | 84.5% | 7,043 | 71.5% | 9,461 | 66.2% | 7,135 |
| Melbourne | 77.5% | 9,065 | 68.5% | 7,415 | 63.8% | 8,882 |
| Brisbane | 69.1% | 1,004 | 53.1% | 1,194 | 41.7% | 1,066 |
| Adelaide | 79.8% | 894 | 67.1% | 1,014 | 52.3% | 827 |
| Perth 67.2% | 187 | 50.0% | 245 | 35.1% | 287 | |
| Tasmania | 53.3% | 15 | 69.2% | 26 | 51.3% | 66 |
| Canberra | 85.4% | 796 | 80.7% | 1,134 | 65.1% | 639 |
| Combined capitals | 80.0% | 19,004 | 69.4% | 20,489 | 62.5% | 18,902 |
This 2021 quarter in regional areas
| Region | Clearance rate (Mar Qtr '21) | Total auctions (Mar Qtr '21) | Clearance rate (Dec Qtr '20) | Total auctions (Dec Qtr '20) | Clearance rate (Mar Qtr '20) | Total auctions (Mar Qtr '20) |
|---|---|---|---|---|---|---|
| Newcastle & Lake Macquarie | 82.3% | 262 | 72.4% | 335 | ||
| Illawarra | 85.1% | 198 | 76.9% | 226 | ||
| Gold Coast | 61.5% | 674 | 51.6% | 518 | ||
| Sunshine Coast | 69.4% | 251 | 59.7% | 299 | ||
| Geelong | 82.9% | 234 | 74.7% | 186 |
Drawing from the latest Corelogic data from their recently released Quarterly Auction Market Review (released April 2021), here are the suburb results for the major capital city auction markets: Sydney, Melbourne, Canberra and Brisbane.
Sydney
All 15 Sydney sub-regions have seen clearance rate increases compared to the previous quarter, a well as this time last year. The highest clearance rate this quarter was recorded across the Northern Beaches region, followed by the Central Coast and the Inner West.
Auction results in Sydney sub-regions
| Sub-region | Clearance rate (Mar Qtr '21) | Total auctions (Mar Qtr '21) | Clearance rate (Dec Qtr '20) | Total auctions (Dec Qtr '20) | Clearance rate (Mar Qtr '20) | Total auctions (Mar Qtr '20) |
|---|---|---|---|---|---|---|
| Central Coast | 86.7% | 207 | 69.3% | 231 | 46.2% | 180 |
| Baulkham Hills and Hawkesbury | 86.4% | 274 | 75.2% | 332 | 64.0% | 262 |
| Blacktown | 76.4% | 226 | 72.6% | 234 | 53.8% | 162 |
| City and Inner South | 82.3% | 756 | 66.8% | 1,059 | 67.2% | 709 |
| Eastern Suburbs | 84.7% | 754 | 68.2% | 1,140 | 68.3% | 880 |
| Inner South West | 82.6% | 833 | 71.7% | 1,095 | 66.6% | 782 |
| Inner West | 86.6% | 655 | 70.6% | 869 | 68.5% | 641 |
| North Sydney and Hornsby | 85.3% | 1,086 | 72.1% | 1,529 | 71.0% | 1,097 |
| Northern Beaches | 92.9% | 508 | 81.0% | 745 | 72.0% | 672 |
| Outer South West | 83.7% | 50 | 66.7% | 63 | 54.2% | 57 |
| Outer West and Blue Mountains | 83.8% | 75 | 66.7% | 73 | 41.9% | 51 |
| Parramatta | 81.2% | 518 | 67.6% | 625 | 61.8% | 514 |
| Ryde | 86.3% | 359 | 73.5% | 521 | 66.0% | 382 |
| South West | 79.7% | 316 | 76.6% | 456 | 56.2% | 314 |
| Sutherland | 84.3% | 427 | 70.9% | 489 | 70.1% | 400 |
Melbourne
In Melbourne, all 9 subregions saw clearance rates improve when compared to the previous quarter as well as this time last year. The Outer East region proved the best performer in terms of auction clearance, followed closely by the Mornington Peninsula.
| Sub-region | Clearance rate (Mar Qtr '21) | Total auctions (Mar Qtr '21) | Clearance rate (Dec Qtr '20) | Total auctions (Dec Qtr '20) | Clearance rate (Mar Qtr '20) | Total auctions (Mar Qtr '20) |
|---|---|---|---|---|---|---|
| Inner | 73.2% | 1,987 | 66.7% | 1,844 | 66.1% | 1,681 |
| Inner East | 80.5% | 1,145 | 69.6% | 865 | 61.6% | 1,155 |
| Inner South | 80.6% | 1,406 | 70.6% | 1,126 | 66.3% | 1,347 |
| North East | 78.1% | 1,010 | 71.3% | 854 | 66.1% | 956 |
| North West | 75.1% | 786 | 69.8% | 697 | 63.5% | 785 |
| Outer East | 86.6% | 675 | 68.7% | 510 | 67.3% | 766 |
| South East | 76.3% | 836 | 66.5% | 653 | 62.1% | 867 |
| West | 72.7% 994 | 65.1% | 772 | 61.0% | 950 | |
| Mornington Peninsula | 86.1% | 226 | 74.5% | 94 | 50.0% | 340 |
Suburb results (city by city) this year so far
Scroll down to find your city!
Canberra
| Suburb | Clearance rate (Mar Qtr 21) | Total auctions (Mar Qtr 21) |
|---|---|---|
| Kambah | 91.3% | 23 |
| Narrabundah | 87.1% | 31 |
| Ngunnawal | 95.8% | 24 |
| Nicholls | 90.0% | 21 |
Brisbane
| Suburb | Clearance rate (Mar Qtr 21) | Total auctions (Mar Qtr 21) |
|---|---|---|
| Camp Hill | 100.0% | 22 |
| Eight Mile Plains | 65.0% | 20 |
| Norman Park | 76.2% | 21 |
| West End | 69.6% | 23 |
Sydney
| Suburb | Clearance rate (Mar Qtr 21) | Total auctions (Mar Qtr 21) |
|---|---|---|
| Alexandria | 92.9% | 42 |
| Annandale | 90.3% | 31 |
| Ashfield | 86.0% | 51 |
| Auburn | 69.6% | 23 |
| Balgowlah | 82.8% | 30 |
| Balmain | 97.2% | 37 |
| Bankstown | 96.2% | 26 |
| Baulkham Hills | 88.4% | 43 |
| Beecroft | 90.9% | 22 |
| Bellevue Hill | 84.8% | 33 |
| Beverly Hills | 80.8% | 26 |
| Bexley | 87.5% | 40 |
| Blacktown | 73.2% | 56 |
| Bondi | 76.2% | 43 |
| Bondi Beach | 85.7% | 35 |
| Bondi Junction | 54.1% | 37 |
| Botany | 91.7% | 36 |
| Bronte | 91.3% | 23 |
| Burwood | 85.7% | 28 |
| Cammeray | 97.1% | 35 |
| Camperdown | 65.4% | 27 |
| Caringbah | 90.9% | 22 |
| Caringbah South | 90.0% | 20 |
| Carlingford | 92.3% | 39 |
| Castle Hill | 86.5% | 53 |
| Chatswood | 79.1% | 44 |
| Cherrybrook | 100.0% | 24 |
| Chester Hill | 92.6% | 27 |
| Concord | 97.4% | 38 |
| Coogee | 100.0% | 54 |
| Cremorne | 87.2% | 47 |
| Cronulla | 80.8% | 52 |
| Crows Nest | 66.7% | 27 |
| Croydon Park | 88.5% | 27 |
| Darlinghurst | 91.2% | 57 |
| Dee Why | 89.7% | 39 |
| Drummoyne | 85.7% | 28 |
| Dulwich Hill | 76.5% | 34 |
| Earlwood | 88.6% | 44 |
| Eastwood | 85.7% | 35 |
| Elizabeth Bay | 80.0% | 20 |
| Engadine | 88.9% | 27 |
| Epping | 85.7% | 36 |
| Ermington | 90.0% | 20 |
| Erskineville | 85.2% | 27 |
| Five Dock | 85.0% | 20 |
| Frenchs Forest | 100.0% | 31 |
| Gladesville | 79.2% | 24 |
| Glebe | 100.0% | 24 |
| Gordon | 82.6% | 24 |
| Greenacre | 83.3% | 36 |
| Greystanes | 90.5% | 21 |
| Guildford | 72.0% | 25 |
| Hunters Hill | 81.8% | 22 |
| Hurstville | 90.0% | 20 |
| Kellyville | 91.7% | 48 |
| Kensington | 77.8% | 27 |
| Kingsford | 84.6% | 26 |
| Lane Cove | 85.4% | 42 |
| Lane Cove North | 92.3% | 39 |
| Leichhardt | 87.0% | 46 |
| Lilyfield | 92.9% | 28 |
| Lindfield | 88.0% | 25 |
| Manly | 83.7% | 50 |
| Maroubra | 78.1% | 73 |
| Marrickville | 88.0% | 50 |
| Marsfield | 77.8% | 27 |
| Mascot | 59.1% | 22 |
| Menai | 95.2% | 21 |
| Merrylands | 78.1% | 33 |
| Miranda | 72.4% | 29 |
| Mona Vale | 88.5% | 27 |
| Mosman | 87.4% | 95 |
| Neutral Bay | 89.7% | 39 |
| Newtown | 83.6% | 55 |
| North Bondi | 95.0% | 20 |
| North Rocks | 90.5% | 21 |
| North Ryde | 92.6% | 27 |
| North Sydney | 78.6% | 28 |
| Paddington | 81.1% | 54 |
| Padstow | 87.0% | 23 |
| Panania | 85.7% | 21 |
| Parramatta | 54.2% | 24 |
| Pennant Hills | 85.0% | 20 |
| Picnic Point | 85.7% | 21 |
| Potts Point | 71.8% | 39 |
| Pymble | 80.6% | 31 |
| Randwick | 90.7% | 97 |
| Redfern | 76.7% | 30 |
| Revesby | 91.3% | 23 |
| Rockdale | 59.1% | 22 |
| Rose Bay | 88.5% | 28 |
| Roselands | 72.7% | 22 |
| Roseville | 76.2% | 21 |
| Rozelle | 91.4% | 35 |
| Ryde | 85.7% | 49 |
| Sans Souci | 80.6% | 36 |
| Smithfield | 95.5% | 22 |
| St Ives | 88.7% | 53 |
| Stanmore | 95.7% | 23 |
| Strathfield | 75.5% | 51 |
| Surry Hills | 71.4% | 56 |
| Sylvania | 91.2% | 34 |
| Thornleigh | 81.5% | 27 |
| Turramurra | 78.6% | 42 |
| Wahroonga | 87.0% | 54 |
| Waterloo | 85.7% | 21 |
| Wentworthville | 100.0% | 21 |
| West Hoxton | 80.0% | 20 |
| West Pennant Hills | 92.7% | 41 |
| West Ryde | 88.5% | 26 |
| Willoughby | 86.4% | 22 |
| Wollstonecraft | 92.1% | 38 |
| Woollahra | 86.5% | 39 |
| Yagoona | 92.0% | 25 |
Melbourne
| Suburb | Clearance rate (Mar Qtr 21) | Total auctions(Mar Qtr 21) |
|---|---|---|
| Abbotsford | 75.0% | 40 |
| Airport West | 70.4% | 27 |
| Albert Park | 76.5% | 34 |
| Altona | 80.0% | 20 |
| Altona North | 58.6% | 30 |
| Armadale | 70.8% | 48 |
| Ascot Vale | 58.3% | 48 |
| Ashburton | 88.0% | 25 |
| Ashwood | 64.5% | 31 |
| Avondale Heights | 85.7% | 36 |
| Balaclava | 73.5% | 34 |
| Balwyn | 83.6% | 55 |
| Balwyn North | 80.6% | 68 |
| Bayswater | 93.8% | 32 |
| Beaumaris | 88.4% | 44 |
| Bentleigh | 82.2% | 73 |
| Bentleigh East | 82.3% | 96 |
| Berwick | 70.4% | 27 |
| Black Rock | 80.0% | 20 |
| Blackburn | 82.1% | 41 |
| Blackburn South | 97.2% | 36 |
| Bonbeach | 86.4% | 22 |
| Boronia | 91.2% | 34 |
| Box Hill North | 81.1% | 37 |
| Box Hill South | 76.1% | 46 |
| Box Hill South | 90.7% | 43 |
| Braybrook | 63.6% | 22 |
| Brighton | 70.5% | 61 |
| Brighton East | 78.6% | 56 |
| Broadmeadows | 60.9% | 23 |
| Brunswick | 72.9% | 96 |
| Brunswick East | 78.0% | 41 |
| Brunswick West | 73.7% | 57 |
| Bulleen | 83.3% | 30 |
| Bundoora | 80.0% | 65 |
| Burwood | 79.6% | 54 |
| Burwood East | 82.1% | 28 |
| Camberwell | 83.9% | 57 |
| Canterbury | 85.0% | 20 |
| Carlton North | 95.0% | 20 |
| Carnegie | 85.4% | 89 |
| Caroline Springs | 60.0% | 25 |
| Caulfield | 80.0% | 20 |
| Caulfield North | 75.0% | 52 |
| Caulfield South | 84.6% | 39 |
| Chadstone | 64.4% | 45 |
| Cheltenham | 80.2% | 102 |
| Clayton | 65.7% | 36 |
| Clayton South | 74.1% | 27 |
| Clifton Hill | 85.0% | 20 |
| Coburg | 92.6% | 81 |
| Coburg North | 80.0% | 20 |
| Collingwood | 68.8% | 32 |
| Craigieburn | 71.1% | 114 |
| Croydon | 90.3% | 32 |
| Dandenong | 71.4% | 21 |
| Dandenong North | 60.9% | 24 |
| Dingley Village | 96.0% | 25 |
| Doncaster | 68.6% | 70 |
| Doncaster East | 89.6% | 68 |
| Donvale | 72.7% | 22 |
| Doreen | 80.0% | 20 |
| East Melbourne | 61.9% | 21 |
| Elsternwick | 80.0% | 35 |
| Eltham | 93.9% | 33 |
| Elwood | 82.3% | 62 |
| Epping | 78.9% | 76 |
| Essendon | 70.7% | 75 |
| Fairfield | 80.8% | 26 |
| Fawkner | 93.3% | 30 |
| Ferntree Gully | 92.0% | 50 |
| Fitzroy | 70.4% | 27 |
| Fitzroy North | 84.6% | 39 |
| Flemington | 80.0% | 25 |
| Footscray | 68.8% | 65 |
| Forest Hill | 96.2% | 26 |
| Frankston | 86.7% | 30 |
| Glen Huntly | 63.6% | 22 |
| Glen Iris | 81.0% | 85 |
| Glen Waverley | 79.4% | 137 |
| Glenroy | 76.0% | 75 |
| Greensborough | 83.3% | 30 |
| Greenvale | 78.6% | 42 |
| Hadfield | 86.2% | 29 |
| Hampton | 85.7% | 49 |
| Hampton East | 95.0% | 21 |
| Hawthorn | 73.6% | 91 |
| Hawthorn East | 82.5% | 57 |
| Heidelberg | 100.0% | 21 |
| Highett | 89.1% | 55 |
| Hillside | 88.9% | 27 |
| Hoppers Crossing | 65.9% | 44 |
| Ivanhoe | 84.4% | 32 |
| Keilor | 84.4% | 45 |
| Kensington | 80.0% | 40 |
| Kew | 76.3% | 76 |
| Kew East | 93.1% | 29 |
| Keysborough | 85.7% | 21 |
| Knoxfield | 90.9% | 33 |
| Lalor | 83.6% | 55 |
| Maidstone | 78.6% | 28 |
| Malvern | 70.0% | 40 |
| Malvern East | 76.6% | 77 |
| Maribyrnong | 70.7% | 41 |
| Mckinnon | 73.9% | 23 |
| Meadow Heights | 55.0% | 20 |
| Melbourne | 37.7% | 54 |
| Mentone | 78.9% | 57 |
| Mernda | 58.3% | 36 |
| Mill Park | 82.6% | 69 |
| Mitcham | 78.0% | 41 |
| Mont Albert North | 68.0% | 25 |
| Montmorency | 84.0% | 25 |
| Moonee Ponds | 70.7% | 41 |
| Mordialloc | 95.8% | 25 |
| Mount Waverley | 81.5% | 119 |
| Mulgrave | 76.9% | 52 |
| Murrumbeena | 79.5% | 39 |
| Newport | 67.3% | 52 |
| Niddrie | 75.0% | 24 |
| Noble Park | 83.0% | 47 |
| North Melbourne | 63.2% | 38 |
| Northcote | 78.2% | 78 |
| Nunawading | 92.7% | 41 |
| Oak Park | 60.9% | 23 |
| Oakleigh South | 83.3% | 24 |
| Ormond | 83.3% | 36 |
| Parkdale | 77.5% | 40 |
| Pascoe Vale | 78.7% | 61 |
| Pascoe Vale South | 81.3% | 32 |
| Point Cook | 68.2% | 44 |
| Port Melbourne | 70.0% | 80 |
| Prahran | 73.3% | 60 |
| Preston | 71.7% | 107 |
| Reservoir | 70.3% | 172 |
| Richmond | 73.9% | 119 |
| Ringwood | 83.3% | 43 |
| Ringwood East | 100.0% | 23 |
| Rosebud | 95.8% | 24 |
| Rowville | 84.4% | 45 |
| Roxburgh Park | 69.0% | 29 |
| Sandringham | 87.1% | 31 |
| Seaford | 91.4% | 37 |
| South Melbourne | 72.2% | 36 |
| South Morang | 79.4% | 34 |
| South Yarra | 68.4% | 96 |
| Springvale | 69.0% | 29 |
| St Albans | 60.5% | 44 |
| St Kilda | 67.8% | 91 |
| St Kilda East | 77.8% | 63 |
| St Kilda West | 86.4% | 23 |
| Strathmore | 64.9% | 37 |
| Sunshine | 85.7% | 21 |
| Sunshine North | 76.0% | 25 |
| Sunshine West | 86.2% | 29 |
| Surrey Hills | 79.2% | 54 |
| Taylors Hill | 78.3% | 23 |
| Taylors Lakes | 70.0% | 20 |
| Templestowe | 70.0% | 30 |
| Templestowe Lower | 74.2% | 31 |
| Thomastown | 87.9% | 33 |
| Thornbury | 81.4% | 59 |
| Toorak | 70.5% | 45 |
| Tullamarine | 87.0% | 23 |
| Vermont South | 90.5% | 21 |
| Wantirna | 81.6% | 38 |
| Wantirna South | 84.4% | 46 |
| Werribee | 74.3% | 35 |
| West Footscray | 65.8% | 38 |
| Westmeadows | 70.0% | 20 |
| Wheelers Hill | 79.5% | 45 |
| Williamstown | 83.7% | 45 |
| Windsor | 78.0% | 41 |
| Wollert | 47.8% | 23 |
| Yarraville | 64.3% | 56 |
Auction clearance rates are extremely useful in understanding the demand in the area, the best way to understand exactly what is going on in your local suburb (as well as what your property could be valued at in the current climate) is to talk to your local Upside agent. Start the process today by booking a free, no-obligation appraisal.