Australia’s auction markets have opened spring with a solid, but not spectacular week of results.
According to figures from CoreLogic RP Date, the nation-wide preliminary clearance rate sits at 74.9%, up from the previous week’s 73.4%.
Melbourne was the busiest market last week with 998 auctions being held and the Victorian capital saw its clearance rate take a small hit, with the city’s preliminary clearance rate sitting at 76.2%, compared to the previous week’s 76.7%.
Of the nine Melbourne sub-regions, the strongest performer was the Outer East with a clearance rate of 81.3%.
Things were different in Sydney however, with the city posting a preliminary clearance rate of 78% last week, rebounding from the 75% it recorded the previous week; the city’s lowest result this year.
North Sydney-Hornsby was the busiest sub-region of Sydney last week for auctions, with 154 homes taken under the hammer. Based on preliminary results, the region recorded a healthy 83.6% clearance rate, with only two other sub-regions recording a higher result; Inner West (88.6%) and Eastern Suburbs (84%).
also had better week last week, with its preliminary clearance rate sitting at 74% compared to last week’s final result of 54%.
Brisbane experienced a dip in its results, the Queensland capital posting a preliminary result of 50.6%, almost 4% lower than the previous week’s results.
It was a similar story in Canberra, with the city recording a preliminary clearance rate of 65.4% compared to the previous week’s 69.8%.
, five of the seven reported auctions resulted in sales, while Tasmania recorded no sales for the week.
Can you afford to buy in this suburb? Find out how much you can borrow
Top Suburbs :
east victoria park
Get help with your investment property
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 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 and appointment is free.
We value your privacy and treat all your information seriously - you can check out