Auction volumes rose across the combined capitals in the week ending April 29, returning a preliminary clearance rate of 62.5%, according to CoreLogic’s latest Property Market Indicator Summary.
A total of 2,539 homes were taken to market, a major increase from the previous week (ending in April 22), when 1,799 homes were taken to market, returning a final auction clearance rate of 62.2% (down from a preliminary clearance rate of 63.1%).
“The combined capital city auction market has seen a relatively steady performance over the year-to-date, with the average weighted clearance rate continuing to track around the low-to-mid 60 per cent range for most of this year despite the level of activity over each week,” CoreLogic said.
Among the capitals, Melbourne led with a 65.5% preliminary clearance rate (1,326 homes were taken to auction). In second place was Canberra, with a preliminary clearance rate of 64.4% (92 homes were taken to auction). Adelaide emerged at third place, with a preliminary clearance rate of 63.3% (130 homes were taken to auction).