The latest preliminary auction clearance data from CoreLogic shows the rate held above 70% across the combined capitals for the second week running, with more than three quarters of Sydney and Melbourne auctions returning a successful result.
Across the combined capital cities, the preliminary clearance rate rose this week, up from 70.6 per cent the previous week to 71.6 per cent. The 70.6 per cent clearance rate over the week ending 10 July represented the first time in 15 weeks where the combined capital city clearance rate surpassed 70 per cent. The strong results are still being driven by Sydney and Melbourne, with all other capital city regions recording a preliminary clearance rate under 65 per cent. The number of auctions held across the capitals has remained fairly steady this week, with 1,378 auctions held, compared to 1,399 and remaining low compared to the same time last year, when 1,827 auctions were held, resulting in a clearance rate of 75.4 per cent.
