A preliminary auction clearance rate of 78.0 per cent was recorded across the combined capital cities this week having increased from 77.3 per cent last week. There were 1,777 auction results reported this week with a total of 2,205 scheduled auctions showing that auction volumes have remained virtually unchanged when compared to the previous week (2,268). In comparison, over the same week last year 66.6 per cent of the 1,991 homes taken to auction sold.
The preliminary auction clearance rate across Melbourne was 78.5 per cent this week, down from the previous weeks final result of 79.3 per cent and stronger than at the same time last year (68.3 per cent). So far this year, Melbourne’s weekly auction clearance rate has been, on average, 10.6 per cent higher than over the comparable week one year ago. Across Melbourne’s individual sub-regions, the strongest preliminary clearance rate this week was across the North East region at 85.8 per cent, followed closely by the Inner East region where the preliminary clearance rate was 85 per cent.
There were 887 Sydney homes taken to auction this week and a preliminary clearance rate of 83.5 per cent across 747 results. Over the previous week, the final auction clearance rate was 82.4 per cent with 862 auctions held across the city. At the same time last year, 71.1 per cent of the 861 homes taken to auction recorded a successful result. This week, the strongest sub-region performance across Sydney’s sub-regions was the Ryde region, with 90.6 per cent of the reported results clearing at auction.
Brisbane’s preliminary clearance rate was 51.1 per cent this week, compared to 52.2 per cent last week and 42.2 per cent at the same time last year. Across Brisbane, a total of 140 auctions were held this week which is higher than last week (128), but lower than at the same time last year (153).
Adelaide hosted 81 auctions this week and across the 48 reported results, CoreLogic RP Data’s preliminary auction clearance rate is 70.8 per cent. Last week, Adelaide’s clearance rate was 63.5 per cent across 83 auctions in the city, while at the same time last year 62.7 per cent of the 79 homes taken to auction were sold.
For Perth, the number of homes taken to auction this week was 29, less than last week (47) and last year (39). Meanwhile, Perth’s clearance rate of 57.1 per cent this week was higher than last week (38.9 per cent) and last year (50.0 per cent).
Across Canberra 72 homes were taken to auction this week and the preliminary clearance rate across 32 auctions was 81.3 per cent.
There were 22 auctions across Tasmania this week, with 10 successful results out of the 20 reported.