The latest from Corelogic RP Data indicates that auction clearance rates are still holding up pretty well. So far this week, 2,127 capital city auction results have been reported to CoreLogic RP Data, resulting in a preliminary auction clearance rate of 72.1 per cent across the combined capital cities. There were a total of 2,615 capital city auctions held this week. This week’s result indicates that clearance rates are no longer tracking higher than they were one year ago, when the final auction clearance rate over the
week was 72.3 per cent across 2,080 auctions. Over the previous week there were 2,297 auctions with a clearance rate of 73.2 per cent. Whilst Sydney and Melbourne were well above 70%, Adelaide, Perth and Canberra were lower.
Whilst the combined average house price was up 10.9% in the past 12 months, mortgage application activity appears to be a little lower now.
