CoreLogic RP Data says their preliminary results show that 67.8 per cent of reported auction results were sold this week, increasing from the dip to 65.7 per cent last week when auction volumes were lower. Data from APM on Saturday also showed an increase, though their mix of results are different.
CoreLogic says this week 2,139 capital city auctions were held, up from 1,100 last week and a similar volume compared to one year ago (2,268). At the same time last year, 77.3 per cent of auctions cleared. The trend in auction clearance rates has nudged lower over the last few weeks; across the quieter auction market last week, three cities recorded a clearance rate in excess of 70 per cent: Adelaide, Canberra and Sydney, while this week, Sydney is the only city where clearance rates are tracking above 70 per cent.
