CoreLogic says auction markets continue their strong run with the weighted preliminary clearance rate holding well above 70% for the 15th week running.
Auction activity has continued to rise through in the final month of spring, however the number of auctions remains well below the highs recorded a year ago. The preliminary clearance rate was 77.5 per cent across 2,490 reported auction results. This is higher than last week’s final clearance rate of 74.4 per cent, with auction volumes increasing compared to the 2,253 Capital city auctions reported last week. Over the corresponding week last year, auctions volumes were significantly higher with 2,947 auctions reported and a 61.4 per cent clearance rate. The high rate of clearance is evident in the distinct markets, where Melbourne reported an 80.5 per cent clearance rate, up from the previous weeks 77.5 per cent, also Sydney (82.1 per cent) and Canberra (79.5 per cent) producing high clearance rates week-on-week reporting above 80 and 70 per cent respectively, four weeks in a row.
