According to CoreLogic RP Data, last week’s 3,649 auctions was the second highest weekly total for 2015, with the preliminary national clearance rate currently sitting at 60.1%. If there is no downward revision, this would represent an increase on the previous week’s result of 59.5%.
Last week saw Melbourne as the busiest market in the country, with the Victorian capital holding 1,828 auctions, compared to the previous week’s 1,510.
Melbourne’s preliminary clearance rate is 65%, which is currently a small increase on last week’s final result of 64.7%.
For the corresponding week last year, Melbourne returned a clearance rate of 63% from 1,635 auctions.
Inner Melbourne was the busiest of the city’s sub-regions last week, holding 347 auctions and has also so far returned the highest clearance rate of 71%.
Sydney held 1,284 auctions last week, with its preliminary clearance rate from 954 reported auctions sitting at 56.3%.
If there is no improvement in that rate as additional results are reported, it would mark Sydney’s worst weekly result of the year.
For the same week in 2014, Sydney recorded a clearance rate of 70.6% from 1,631 auctions.
North Sydney was the city’s busiest sub-region, returning a preliminary clearance rate of 62.8% from 132 reported auctions.
So far there has been a week-on-week improvement for Brisbane, with the city’s preliminary clearance rate currently sitting 50%, with 156 results reported from a total of 211 auctions.
The previous week saw Brisbane return a final clearance rate of 41% from 226 auctions, while for the corresponding week last year it returned a clearance rate of 37.8% from 394 auctions.
Adelaide looks to be in for a week-on-week decline, with its preliminary clearance rate sitting at 59.5% compared to last week’s final result of 64.4%.
It’s a similar story in Canberra, with the preliminary auction clearance rate of 58.6% currently sitting below last week’s final result of 61.8%.
Perth looks like it might register a slight weekly increase, with its preliminary clearance rate of 34.4% currently higher than the previous week’s final result of 31.3%.
