Australia’s auction market has returned another week of positive results, with the national clearance rate again rising above the 70% mark.
After finalising at 70.1% over the previous week, preliminary figures from CoreLogic RP Data currently put this week’s clearance rate at 72.3%, only slightly lower than the 74% recorded over the corresponding week one year ago.
The busiest auction market over the weekend was Melbourne, with the Victorian capital returning a preliminary clearance rate of 73.6% from 440 reported auctions.
That mark is currently lower than the previous week’s 77.6%, but it is higher than the 70.9% recorded at the same time last year.
The strongest performing Melbourne sub-region was the Inner East, with a clearance rate of 81.4% across 52 auctions.
Sydney’s preliminary clearance rate currently sits at 78.6% and no downward revision of that figure would give the harbour city its first weekly clearance rate higher than Melbourne since mid-September 2015.
The city’s market is more subdued than it was at the same time last year, when it recorded a clearance rate of 83.3%.
North Sydney and Hornsby was Sydney’s strongest sub-region for the week, posting a preliminary clearance rate of 92.5%.
So far Adelaide
is home to the nation’s highest clearance rate, with its preliminary rate sitting at 81.4%.
That mark is currently higher than the previous week’s 70.5% and the 69% recorded for the corresponding week a year ago.
Brisbane’s preliminary clearance rate for last week is 53.3%, which is slightly down on the previous week’s 54%, however somewhat higher than the 49.5% recorded on the same week a year ago.
looks to have had a softer week, with last week’s preliminary clearance rate currently sitting at 25%, down from 35.3% recorded over the previous week.
Canberra’s preliminary clearance rate of 73.3% for last week is relatively consistent with results from the previous week (71.4%) and the same week last year (72.3%).
Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker
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