70% of units finding buyers at auction: CoreLogic

Houses have been the standout auction performer in 2021 so far, with clearance rates above 80% for seven consecutive weeks now, according to CoreLogic.

Across the unit market an average of 70% have sold at auction this year.

Units had a strong weekend with a 77% national success rate after the auction of 578 units, while houses sat at 85% from 1650 listings.

Melbourne was the busiest capital for unit offerings with CoreLogic putting the auction tally at 305. There was a 72% success rate, as against the 789 houses which recorded an 83% clearance rate.

It was a tighter race in Sydney.

Some 244 units went to auction with 86% finding buyers, up against 573 houses of which 88% found buyers under the hammer.

Sydney's weekend median unit price was $1.07m with the house median sitting at $1.61 million.

Melbourne's unit median was $721,000 and its house median was $1.16 million.

This week auctions markets are set to be tested across substantially higher volumes, with CoreLogic currently tracking around 2,700 scheduled auctions, up from the 2,200 over the past week.