Invest
Deluge of auctions delivers a new record
The first quarter of 2022 was the busiest start to the year for auctions on record, however clearance rates are in decline.
Deluge of auctions delivers a new record
The first quarter of 2022 was the busiest start to the year for auctions on record, however clearance rates are in decline.
CoreLogic has reported that 23,748 capital city homes were taken to auction in the first quarter of 2022, the strongest start to the year since the firm began taking records in 2008.
Nearly 5,000 more homes went up for auction during the period compared to the first quarters of 2021 (19,004) and 2020 (18,902).
However, CoreLogic noted that the clearance rate of 69.9 per cent across the combined capital cities over the quarter had fallen from 80.0 per cent in Q1 2021 and 71.3 per cent in Q4 2021.
“The first quarter of the year saw the trend in auction volumes and clearance rates heading in different directions,” commented CoreLogic research director Tim Lawless.
“While the number of auctions held reached a March quarter high, the clearance rate gradually drifted lower through the quarter.”
Mr Lawless explained that the trend of lower clearance rates on higher volumes was fairly typical as demand became more thinly stretched.
In Sydney, 8,283 homes went under the hammer with a clearance rate of 69.1 per cent, down from 69.9 per cent in the previous quarter and 84.5 per cent in the first quarter of last year.
Melbourne recorded a clearance rate of 68.5 per cent for the 10,315 homes put up for auction versus 69.7 per cent for the previous quarter and 77.9 per cent for Q1 2021.
Out of all the capital cities, Adelaide recorded the highest clearance rate of 80.6 per cent from 1,797 auctions, while Canberra saw a clearance rate of 77.9 per cent from 1,227 auctions and Brisbane posted a clearance rate of 67.9 per cent from 1,916 homes up for auction.
“The smaller auction markets were generally stronger through the quarter, especially Adelaide where clearance rates held above the 80 per cent mark,” said Mr Lawless.
“With such strong selling conditions, we’ve seen a progressively larger portion of homes being taken to auction in Adelaide; a city that has historically favoured sales campaigns by private treaty rather than auctions.”
Following the strongest Easter for auctions on record, Mr Lawless flagged that fewer auctions are expected to take place in the coming months.
“This is a seasonal trend we see through the winter months, but as selling conditions gradually swing towards a buyer’s market, we could also see clearance rates trending lower,” he said.
RELATED ARTICLES
Property
Twice the demand: the case study behind Melbourne’s first‑home buyer surge
Melbourne has quietly engineered one of Australia’s most consequential housing turnarounds, with first‑home buyer demand running at roughly double the national pace and four of the top five buyer ...Read more
Property
First‑home buyers now anchor Australia’s mortgage growth — but the risk maths is changing
Great Southern Bank’s revelation that nearly one in three of its new mortgages went to first‑home buyers is not an outlier. It is the leading edge of a broader market realignment powered by government ...Read more
Property
Home guarantee scheme shake-up challenges Australia’s housing market players
From 1 October 2025, the expanded Home Guarantee Scheme (HGS) materially widens what first-home buyers can purchase and where. By sharply lifting price caps and relaxing eligibility settings, the ...Read more
Property
GSB’s first‑home buyer play: turning policy tailwinds into market share
Great Southern Bank’s latest results show that nearly one in three of its new mortgages now go to first‑home buyers—evidence of a fast‑moving market reshaped by government guarantees, easing rates and ...Read more
Property
Why investors are fleeing and renters are scrambling in Australia's housing maze
Australia’s rental market is tightening even as individual landlords sell down. New data points to a multi‑year investor retreat tied to higher holding costs and regulatory uncertainty, while prices ...Read more
Property
Australia's 5% deposit guarantee: Unlocking gains while balancing risks in the market share race
Can a bigger government guarantee fix housing access without fuelling prices? Australia is about to find out. The Albanese government’s expanded 5% deposit pathway aims to help 70,000 buyers, remove ...Read more
Property
Australia's bold move the 5% deposit scheme shaking up the housing market
Can a government guarantee replace lenders mortgage insurance without inflating prices or risk? Canberra’s accelerated 5% deposit scheme is a bold demand-side nudge in a supply‑constrained marketRead more
Property
When rates drop but stress sticks: exploring Australia's mortgage arrears dilemma
Headline numbers suggest arrears ease as rates come down. The reality in Australia is messier: broad measures dipped into mid‑2025, yet severe delinquencies and non‑bank portfolios remain under ...Read more
Property
Twice the demand: the case study behind Melbourne’s first‑home buyer surge
Melbourne has quietly engineered one of Australia’s most consequential housing turnarounds, with first‑home buyer demand running at roughly double the national pace and four of the top five buyer ...Read more
Property
First‑home buyers now anchor Australia’s mortgage growth — but the risk maths is changing
Great Southern Bank’s revelation that nearly one in three of its new mortgages went to first‑home buyers is not an outlier. It is the leading edge of a broader market realignment powered by government ...Read more
Property
Home guarantee scheme shake-up challenges Australia’s housing market players
From 1 October 2025, the expanded Home Guarantee Scheme (HGS) materially widens what first-home buyers can purchase and where. By sharply lifting price caps and relaxing eligibility settings, the ...Read more
Property
GSB’s first‑home buyer play: turning policy tailwinds into market share
Great Southern Bank’s latest results show that nearly one in three of its new mortgages now go to first‑home buyers—evidence of a fast‑moving market reshaped by government guarantees, easing rates and ...Read more
Property
Why investors are fleeing and renters are scrambling in Australia's housing maze
Australia’s rental market is tightening even as individual landlords sell down. New data points to a multi‑year investor retreat tied to higher holding costs and regulatory uncertainty, while prices ...Read more
Property
Australia's 5% deposit guarantee: Unlocking gains while balancing risks in the market share race
Can a bigger government guarantee fix housing access without fuelling prices? Australia is about to find out. The Albanese government’s expanded 5% deposit pathway aims to help 70,000 buyers, remove ...Read more
Property
Australia's bold move the 5% deposit scheme shaking up the housing market
Can a government guarantee replace lenders mortgage insurance without inflating prices or risk? Canberra’s accelerated 5% deposit scheme is a bold demand-side nudge in a supply‑constrained marketRead more
Property
When rates drop but stress sticks: exploring Australia's mortgage arrears dilemma
Headline numbers suggest arrears ease as rates come down. The reality in Australia is messier: broad measures dipped into mid‑2025, yet severe delinquencies and non‑bank portfolios remain under ...Read more
