CoreLogic has confirmed the Domain data we discussed Saturday, reporting a preliminary clearance rate highest this year.
Spring is seeing a lift in the auction market. The number of homes taken to auction this week increased to 2,641, compared with 2,443 over the previous week. The preliminary clearance rate of 80.2 per cent is the highest recorded for the year so far, up from 76.2 per cent last week. Over the corresponding week last year, the clearance rate was significantly lower at 64.9 per cent however auction volumes were higher, 3,143 auctions were held. Every capital city except Perth has recorded a preliminary clearance that was higher than a year ago, while the two largest auction markets, Sydney and Melbourne, recorded a preliminary clearance rate higher than 80 per cent.
