Confirming the Domain data we reported on Saturday, CoreLogic says the first week of winter saw auction volumes fall, with 2,545 homes taken to auction, compared to 2,885 the previous week.
The preliminary clearance rate across the combined capital cities was higher (73.9 per cent) compared with last week’s finalised result, which was the third lowest clearance rate so far this year (71.3 per cent). With auction clearance rates typically revising lower as more results flow through, the final clearance rate is likely to be lower than what was recorded last week. At the same time last year, both the combined capital city clearance rate and the number of auctions were lower, with 2,008 auctions held and 68.2 per cent reported as successful. The two largest auction markets, Melbourne and Sydney, saw their preliminary clearance rates rise compared with last weeks finalised results, with Sydney at 77.5 per cent and Melbourne at 75.4 per cent. Across the smaller capital city markets, week-on-week results show mixed results with clearance rates falling in Brisbane and Canberra.
