Australia’s capital cities have had another successful week of auctions, with figures showing a clearance rate above 77% for last week.
Analysis from CoreLogic RP Data shows capital cities last week combined for a clearance rate of 77.7% from 1,803 reported results, an increase from the preceding week’s rate of 75.9%.
The rate is also much higher than what was seen this time last year, when a clearance rate of 65.9% was recorded.
Sydney again led the way with the nation’s strongest clearance rate, with a preliminary result of 83.9%, a slight increase on the 83.4% recorded the previous week.
Sydney’s auction volumes were also up, with the number of homes take to auction up to 847 from 816 the previous week.
Across the individual sub-regions of Sydney, the strongest performance this week was recorded across the Ryde region, with 45 results reported and a clearance rate of 88.8%.
Following on from this, the Eastern Suburbs, City and Inner South, Baulkham Hills and Hawkesbury and Inner West regions all recorded a clearance rate of above 87%.
Melbourne also saw a strengthening of its clearance rate, with last weeks’ preliminary rate up to 79.2% from 77.7% the week before.
For the week the strongest clearance rate across Melbourne was recorded in the North East sub region, where 88.7% of the 89 auctions reported were successful.
In Brisbane, 122 homes were taken to auction and the Queensland capital returned a clearance rate of 55.4%.
That result is a marked increase from the preceding week’s clearance rate of 45.5% and the 32.2% recorded for the same week last year.
a clearance rate 62.3% was recorded, while the Gold Coast returned a rate of 47.2%.
had the nation’s lowest clearance rate with result of 26.3%, while Canberra’s auctions resulted in a clearance rate of 67.5%.
There were 12 Tasmanian auctions across the week and currently six results have been reported with five transactions.
Do you have more than $200k in your super fund? You could use your super to buy property - Find out how
Top Suburbs :
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out