Clearance rates remain above 70%

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It has been another strong week for auction results across combined capital cities as the preliminary auction clearance rate last week hit 77.9% – higher than the previous week’s 76.4%. The clearance rate has remained above 70% since the last week of July.

Sydney’s clearance rates continue to lead all the capital cities at 83.3%, with the Eastern Suburbs sub-region emerging as the strongest performer with a 97.1% clearance rate.

Melbourne follows Sydney with a clearance rate of 78.5%. The Outer East region was hailed as the city’s strongest performer, with 87.1% of successful auctions.

Perth’s 50% clearance rate also went up from the previous week’s 28.5%. This was also higher than the same week last year, which only had a clearance rate of 46.2%.

Brisbane, Adelaide, and Canberra all experienced clearance rate drops this week at 52.2%, 67.9%, and 83.9%, respectively. Of the two Tasmanian auction results reported, one sale has been recorded.

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