According to CoreLogic RP Data, the preliminary auction clearance rate nudged higher over the first week of winter, however the number of auctions dipped compared with the previous week. There were 1,953 auctions held over the week, down from 2,480 last week, however higher than one year ago when 1,201 auctions were held and auction volumes were low due to the Queen’s birthday public holiday in all cities with the exclusion of Perth. Preliminary results show that 70.4 per cent of capital city auctions held this week were successful, rising from a final result of 67.7 per cent last week. One year ago, across the lower number of auctions, 78.5 per cent sold. Melbourne and Sydney, the two largest auction markets have maintained strength this week, while across the remaining, significantly smaller auction markets, results have been more varied.
