According to the figures, 3,226 homes across Australia hit the auction market last week, with the preliminary national combined capital city clearance rate coming in at 63.8%, up from 61.4% from the previous week.
The increase in the preliminary rate came alongside an increase in volumes, with 2,947 auctions being held a fortnight ago.
So far Melbourne is the strongest performing market, with the city’s clearance rate at 69.5% from 1,362 reported auction results.
While that is a slight increase so far on the previous week’s 69%, if there is no movement in the preliminary rate it would mark four consecutive weeks of Melbourne’s clearance rate sitting below 70%.
Across the Melbourne sub-regions, the West (75.2%), Outer East (70.9%), Inner South (70.7%) and Inner-City (70.1%) were the only ones to see their clearance rates push past 70%.
In Sydney, there are early signs the clearance rate may break back past the 60% mark, after falling to 58.4% last week.
The preliminary clearance rate currently sits at 61% from 880 recorded auction results as the city experiences a run of seven straight sub-70% weeks.
Similar to Melbourne, only a small number of Sydney’s sub-regions could manage to break 70%, with only City and Inner South (73.3%), Eastern Suburbs (76.6%) and North Sydney and Hornsby (71.1%) managing the feat.
In Brisbane, signs also point to a better week of results, with the preliminary clearance rate for the Queensland capital sitting at 45.9%, compared to the previous week’s final result of 37.7%.
It’s a similar story in Perth, where the preliminary clearance rate sits at 50%, a marked improvement of the previous week’s final 16.2%.
Results were down in Adelaide so far, with the preliminary clearance rate at 49.4% compared to the previous week’s 58.1%, while in Canberra the preliminary rate is at 66.1% compared to the previous week’s final result of 76.6%.
In Tasmania, six sales have been reported from 10 auctions.