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%.
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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