This week across the combined capital cities, the preliminary auction clearance rate rose to 71.7 per cent, up from last week when the final clearance rate fell to 67.5 per cent. There were 2,041 capital city auctions this week, virtually unchanged from last week’s 2,040 auctions as well as being higher than the 1,795 auctions held one year ago.
Volumes continue to track higher than what was seen over the corresponding July-August period last year. Across the two largest markets, Melbourne’s preliminary clearance rate rose this week (77.7 per cent), after last week’s final results saw a weakening in the rate of clearance, falling below 70 per cent for the first time since July 16 (69.8 per cent), while Sydney’s clearance rate also improved up to 70.8 per cent this week, however volumes were lower week-on-week in Sydney, while Melbourne held more auctions this week than last.
