Auction activity across the combined capital cities increased this week after last week’s grand final and public holiday slowdown. 2,286 homes were taken to auction, returning a preliminary auction clearance rate of 68.1 per cent. The preliminary clearance was up from the 66.3 per cent last week when volumes dipped significantly across the capitals amidst the festivities of the grand finals and long weekend.
Melbourne was the only capital city to record a preliminary clearance rate above 70 per cent (72.1 %), while clearance rates across Sydney remained below 70 per cent for the eleventh consecutive week. Compared to one year ago, clearance rates continue to track lower with final results from the corresponding week last year recording a 76.4 per cent clearance rate, while volumes were a similar 2,290.
