CoreLogic’s data on auction clearances shows that markets remain firm with the combined capitals preliminary clearance rate remaining higher than 70 per cent for the third week running.
This week 1,295 auctions were held across the capital cities, with 1,076 reported results so far. The preliminary clearance rate of 70.7 per cent is roughly the same when compared with last week’s result which showed 70.5 per cent of the 1,391 capital city auctions cleared. Melbourne and Sydney are once again showing the strongest clearance rates of 72.4 per cent and 75.3 per cent respectively. In terms of auction volumes, both Sydney and Melbourne recorded a lower number of auctions this week when compared to last week, while across the remaining capital cities the auction markets were varied. At the same time last year, the number of auctions held was still substantially higher (2,143) with a success rate of 74.7 per cent.
A total of 2 auctions have so far been reported with 1 successful result for Tasmania. Across Perth, there were 21 auctions held this week with a preliminary clearance rate of 42.9 per cent. There were 68 auctions in Adelaide and a preliminary clearance rate of 71.8 per cent, whilst in Brisbane there was 135 auctions with a preliminary clearance rate was 53.2 per cent.
