National auction clearance rate continues to soften

By |
Australia’s national combined clearance rate looks to have dropped below 65% for the second straight week.

After the previous week’s final clearance rate came in at 64.9%, figures from CoreLogic RP Data put last week’s preliminary clearance rate at 63.3% from 2,493 auctions.

For the corresponding week last year, the national clearance rate was 68.1% from 2,033 auctions.

For Melbourne, a Melbourne Cup induced drop-off in volumes in  last week, from 1,690 down to 611, didn't coincide with an increased clearance rate.

After a recording a final clearance rate of 69.7% for the previous week, the Victorian capital’s preliminary rate sits at just 65.4%.

Across Melbourne’s sub-regions, the North East was the best performer, with a preliminary clearance rate of 74.6%, followed by the Inner South with 72.9%.

Sydney held 1,361 auctions last week, and so far signs point to a weekly clearance rate increase, with the preliminary rate sitting at 63.5% after the previous week’s rate finalised at 61.3%.

That result is still significantly lower than the results seen at this time last year, when a clearance rate of 75.6% was recorded from 1,259 auctions.

Last week, the Inner City and Inner South were Sydney’s strongest sub-regions, with both recording preliminary clearance rates of 73.9%.

Brisbane looks like it too has seen a weekly improvement, with its preliminary clearance rate at 58.2% after the previous week’s final rate was 48.8%.

In Perth, the preliminary clearance rate is at 55.6%, compared to the previous week’s final rate of 25.9%, while Canberra’s preliminary clearance rate is 68.7%.

Adelaide’s preliminary clearance rate sits at 58.1% for last week, after it was the strongest performer nationally with a final rate of 70.3% over the previous week.

In Tasmania, two sales were recorded from six reported auctions.

Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker

Top Suburbs : nightcliff , lalor park , penrith , woolloongabba , millner

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 and 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