Another week of high clearance rates

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Australia’s capital cities have combined for an auction clearance rate above 77% for the tenth straight week. 

The weekend saw a clearance rate of 78.9% for the 2,727 home taken to auction across Australia according to CoreLogic RP Data. 

The result is a small drop compared to the previous week which saw a clearance rate of 79.1%, but looking back 12 months it is an increase on the same week from last year when the clearance rate only hit 66.4%. 

Melbourne was again the top performer in terms auction numbers, with 1,221 homes going under the hammer. 

The Victorian capital saw a clearance rate of 78.3%, down from last week’s 82.1%. 

Across Melbourne’s sub-regions, the Inner region had the highest number of auctions this week (296), with a preliminary clearance rate of 73.8%, while the Outer East region of Melbourne had the strongest result, with
88.8% of reported auctions selling.

Sydney had the country’s highest clearance rate, at 86.5% for the week, just up from the preceding weekend’s 86.2%. 

Baulkham Hills and Hawkesbury (94.7%), City and Inner South (92.5%), Inner West (92.3%) and Sutherland (91.2%) regions were the best performers over the week. 

In Queensland, Brisbane returned a clearance rate of 52.1%, while the Gold Coast saw a rate of 40.3%. 

Adelaide held 92 auctions and finished with a clearance rate of 72.1%, while 50% of Perth’s auctions had a successful result. 

Canberra finished with a clearance rate of 70.4% from 52 auctions, while out of 11 reported auctions in Tasmania, four homes have sold. 


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