Sydney recorded its second-busiest week for auctions this year over the weekend, according to figures from CoreLogic.
Over the weekend, the New South Wales capital recorded an auction volume of 931, which returned a preliminary clearance rate of 81%. In early October, Sydney reported an auction volume of 939, which returned a clearance rate of 77.7%.
The combined capital cities hosted 2,375 auctions over the weekend, up from 1,555 during the preceding week. The overall preliminary success rate sat at 72%, up from the prior week’s final clearance rate at 68%.
"Once the remaining results are collected, the clearance rate will likely revise below 70% for the second week in a row," CoreLogic analyst Caitlin Fono said.
I’ve said this before. Don’t say “this is higher than that.” Your readers can count. They know it’s higher.
Also read: Busiest week yet for auctions?
Melbourne remained on top in terms of auction volume, with 1,016 homes going under the hammer. The city recorded an initial success rate of 70.8%. Melbourne's recent auction figures indicated a recovery from the decline over the previous week due to the cup festivities.
The table below shows the performance of each capital city auction market:
Top Suburbs :
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 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 an appointment is free.
We value your privacy and treat all your information seriously - you can check out