Capital cities record strong clearance rates

By Ericka Pingol | 28 Aug 2019

Capital cities recorded strong preliminary clearance rates for the week ending 24 August, according to CoreLogic.

Homes taken to auction across combined capitals climbed to 1,412 for the week, returning a preliminary clearance rate of 79.6%. During the same week last year, 1,915 homes were taken to auction, only returning a 54.6% clearance rate.

In Melbourne, 665 homes were taken to auction for the week ending 24 August, returning a preliminary clearance rate of 79.7%. It was the fifth consecutive week in which the cities’ clearance rate was above 70%.

Sydney had 500 homes taken to auction for the week ending 24 August, returning a preliminary clearance rate of 84.7%—the highest preliminary clearance rate the city has seen since February 2017. A year ago, 721 auctions were held in the capital city, only returning a clearance rate of 53.2%.

Meanwhile, Brisbane saw lower auction volumes week-on-week. Adelaide, Canberra, and Perth recorded an increased number of homes taken to auction over the week ending 24 August.

Source: CoreLogic

Top Suburbs : springwood , werribee , upper kedron , canterbury , harris park


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.

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