An increase in auction activity last week seemingly resonated with buyers, with a likely rise in the national clearance rate recorded.
Figures from CoreLogic show the preliminary clearance rate across last week’s 2,139 currently sits at 67.8%.
The previous week saw a final clearance rate of 65.7% recorded across 1,100 auctions, while the corresponding week last year saw 2,268 auctions held and clearance rate of 77.3% recorded.
With more than 1,000 auctions held, Melbourne was easily the busiest auction market last week.
The preliminary clearance rate in the city currently sits at 68.2%, which is up from the final mark of 64.5% recorded the previous week when the city held just 341 auctions.
Last week, Inner Melbourne was the city’s busiest sub-region with 202 homes going under the hammer and returning a preliminary clearance rate of 67.6%.
In Sydney, 728 auctions were held last week with a preliminary clearance rate of 74.7% recorded, the highest mark across the country for the week.
That mark is a slight improvement on the previous week for Sydney, when a final clearance rate of 74.1% was recorded from 463 auctions, while the corresponding week last year saw a clearance rate of 82.4% recorded from 862 auctions.
Last week, Ryde was Sydney’s best performing sub-region with a preliminary clearance rate of 88.0% followed by North Sydney and Hornsby at 85.5%.
In Brisbane, the preliminary clearance sits at 44.3% from last week’s 120 auctions.
The previous week saw the Queensland capital record a final clearance rate of 46.3% 142 auctions.
, 80 auctions were held last week compared to 75 the week prior.
The increase in auctions did not coincide with a clearance rate increase, with the preliminary clearance rate currently at 67.7% compared to the previous week’s 75.4%.
In Canberra, the preliminary clearance rate currently sits at 58%, well below the final mark of 73.9% recorded the previous week.
The nation’s capital held 64 auctions last week compared to 30 the week prior.
The preliminary clearance rate in Perth
currently sits at 34.8%.
Do you have more than $200k in your super fund? You could use your super to buy property - Find out how
Top Suburbs :
st kilda west
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