According to preliminary figures from CoreLogic RP Data, the two cities both returned clearance rates higher than the nation-wide rate of 77.8%.
Sydney continued its strong run of strong clearance rates, returning a preliminary rate of 86.5% from 621 auction results.
The rate means the city continues its run of clearance rates, with Sydney’s weekly clearance rate having been above 85% since the third week of April.
While still above the 85% mark, Sydney’s rate for last week was slightly down from the preceding week’s 88.7%.
Six Sydney sub-regions sub-regions returned a preliminary clearance rate come in above 90%.
The preliminary clearance rate for Melbourne was recorded at 78% for the week, down from the preceding week’s 80.3%.
The week-on-week fall clearance rate fall is likely explained by an increase in auction volumes; last week Melbourne hosted 918 auctions compared to 315 in the preceding week.
The strongest clearance rate for any individual Melbourne sub-region this week was 92.6% across the Outer East region where 50 auctions were scheduled and 41 results have been reported.
Brisbane saw an increase its clearance rate over the week, up to 51.2% from 48.5%.
Volumes in the Queensland Capital were only slightly up, with 132 homes take to auction last week compared to 130 the week before.
Adelaide saw its clearance rate take a dip, down from 71.2% to 60.4% over the week.
For Perth, the number of homes taken to auction this week fell from 48 last week to 29 and the preliminary clearance rate was recorded at 30.8% across 13 results.
Canberra’s preliminary clearance rate was 70.0% across 30 auction results.
In Tasmania, 6 homes were taken to auction this week, with 1 sale recorded so far.
