National auction clearance rate slips, but improvement for Sydney

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The national auction clearance rate looks to have taken a step backwards last week, but there is good news for Sydney after its clearance rate reached a five-week high.

Across 1,704 auction results, the preliminary clearance rate sits at 76.3%, lower than the previous week’s 76.9% according to CoreLocic RP Data figures.

Sydney so far leads the way in terms of clearance rates for last week, with the harbour city sitting on a preliminary rate of 80.3%, the first time it has been over 80% in five weeks and up from the previous week’s 78.3%.

The Inner West (86.6%), City and Inner South (85.9%) and North Sydney and Hornsby regions (85.1%) all performed strongly last week.

Melbourne has reported a preliminary rate of 76.5% for last week, which represents a 2% decrease on the previous week’s result.

The Outer East (86.4%) was the only sub-region to crack 80% for the week, with the South East (78.5%) the next best.

Brisbane preliminary rate sits at 60.2% for last week, slightly down on the previous week’s 61.1%.

Adelaide also saw a decrease, down to 71.2% from 77.4%, while Perth’s preliminary has plummeted to 23.1% from 50%.

Canberra has so far seen an increase, with its preliminary rate sitting at 77.4% compared to 74.1% for the previous week.

Across Tasmania 5 auction results have been reported this week, with 3 sales.

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