This surge is an 85.1% increase from the previous quarter, and more than double (109.5%) the auction figures from December 2020 according to CoreLogic.

CoreLogic's Research Director Tim Lawless attributes several factors to the surge in auctions, including catch-up from the September quarter - when lockdowns weighed on activity - as well as pickup following seasonally slower winter conditions.

"The large number of auctions held through the December quarter also reflects the strong selling conditions that were present, which motivated vendors to capitalise on strong buyer demand and the significant rise in values seen through the pandemic," Mr Lawless said.

"Auctions as a way of selling tend to be more popular during a sellers’ market; in this situation buyers are highly competitive and incentivised to outbid rival purchasers in order to secure a property."

Melbourne and Sydney - Australia's two biggest auction markets - held a combined 34,694 auctions in the last quarter of 2021.

Specifically, Melbourne held 19,788 auctions with a 69.7% clearance rate, and Sydney held 14,906 auctions with a clearance rate of 69.9%.

In other capitals, Brisbane held 3,027 auctions with a clearance rate of 74.9%; Adelaide held 2,902 auctions with a 80.5% clearance rate; and Canberra held 1,949 auctions with a 82.4% clearance rate.

These are also 'significant' increases in volumes compared to the September quarter and the December quarter of 2020.

Less auction success closer to Christmas

The overall quarterly clearance rate across the capital cities was 71.3% - only slightly down on the previous quarter's rate of 71.7%.

CoreLogic notes that auction volumes increased while the clearance rate progressively trended down to 61.1% in the week ending 19 December.

Mr Lawless said higher auction volumes often correlate with lower clearance rates as demand becomes more thinly stretched.

"The surge in the number of auctions through the final quarter of 2021 was accompanied by a consistent trend towards lower clearance rates, with this trend evident across each of the capital cities," Mr Lawless said.

"The drop in clearance rates implies demand didn’t quite keep pace with the level of auction supply during the quarter."


Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Update resultsUpdate
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkCompare
6.04% p.a.
6.06% p.a.
Principal & Interest
Featured 4.6 Star Customer Ratings
  • No monthly or ongoing fees
  • Unlimited free redraw
  • No application fee
5.99% p.a.
5.90% p.a.
Principal & Interest
Featured Apply In Minutes
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
6.14% p.a.
6.16% p.a.
Principal & Interest
Featured Unlimited Redraws
  • No annual fees - None!
  • Get fast pre-approval
  • Unlimited additional repayments free of charge
  • Redraw freely - Access your additional payments when you need them
  • Home loan specialists available today
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

Image yb Maximillian Conacher on Unsplash

Ready, Set, Buy!

Learn everything you need to know about buying property – from choosing the right property and home loan, to the purchasing process, tips to save money and more!

With bonus Q&A sheet and Crossword!

By subscribing you agree to our privacy policy