Auction market turns in strong results

By |
Strong results across Sydney, Melbourne and Adelaide last week look to have given the national auction clearance rate a slight bump.

Preliminary figures from CoreLogic RP Data put last week’s national clearance rate at 70% from 1,863 auctions, up slightly from the previous week’s 69.5% from 1,876 auctions.

The corresponding week 12 months ago saw the national clearance rate hit 79.1% from 2,599 auctions.

Despite a slight week-on-week fall, Sydney was home to the strongest result last week with its preliminary clearance rate at 74.2% from 700 auctions last week.

The previous week saw Sydney’s clearance rate come in at 76.2% from 647 auctions.

Sydney’s best performing sub-regions last week were the City and Inner South, which returned preliminary clearance rates 86.5%, followed by North Sydney and Hornsby at 83%.

Melbourne also saw a slight dip in its clearance rate over the week, with the Victorian capital’s preliminary clearance rate at 70.7% for last week compared to 71.3% from the previous week.

Last week saw Melbourne hold 825 auctions, down from the 871 it held the week prior.

If there is no downward revision of Melbourne’s preliminary rate, it will be the seventh straight week the city’s clearance rate has been at 70% or above.

Adelaide also looks to have recorded a clearance rate of above 70%, with preliminary result in the South Australian capital currently sitting at 70.1%, up from the previous week’s result of 66.3%.

In Brisbane, the preliminary clearance rate currently sits at 55.3%, which is the highest the city has seen ion 12 weeks.

Over the previous week only 49.36% of Brisbane’s auctions were successful.

Canberra also looks to have seen an increase in its clearance rate, with the preliminary mark in the nation’s capital currently at 61.4% for last week, compared to 58.3% the week prior.

In Perth, the preliminary clearance rate sits at 54.5%, up from 28.9% over the previous week.

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now

Top Suburbs : dulwich hill , belmont , thebarton , toowong , berala

go back

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 an appointment is free.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here