Australia's auction market remained busy this week despite the lower number of sold homes, according to CoreLogic.
A total of 1,605 homes were taken to auction across combined capital cities this week, up from 1,415. Given the higher volumes, the preliminary clearance rate softened slightly to 73.6%, lower than last week's success rate at 74.2%, which was the highest since April 2017.
Of the total number of auctions, 1,127 were detached houses while 478 were units.
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Amongst the capital cities, Melbourne recorded the highest auction volume at 769, reflecting a clearance rate of 76.1%. Of the total auction volume, 119 came from the Inner sub-region and 112 from Inner South.
In terms of success rate, Sydney remained the best capital city, selling 78.9% of the 584 homes taken to auction. Amongst Sydney's sub-regions, North Sydney and Hornsby saw the largest number of auctions at 98.
The table below shows the performance of each capital city in terms of auction volumes and clearance rates:
