The weighted average preliminary clearance rate rose across a higher volume of auctions this week with 1,813 homes taken to market returning a 65.3 per cent success rate. The higher activity this week comes of the back of the Easter period slowdown which saw only 670 auctions held across the capitals and a 64.8 per cent final auction clearance rate.
Overall results by property type, saw 70 per cent of units selling at auction this week, which was higher than the combined house result which returned a 63.4 per cent clearance rate.
Across Australia’s two largest cities, Melbourne recorded an increase in both auction volumes and clearance rate week-on-week, with 69.6 per cent of the 720 homes selling at auction this week, increasing on last week’s 65.5 per cent final clearance rate when a much lower 152 auctions were held. In Sydney, 775 auctions were held this week returning a 67.1 per cent preliminary clearance rate, down on the 67.9 per cent last week when 394 auctions were held across the city.
All of the remaining auction markets saw an increase in auction activity this week, however the performance was varied, with Adelaide recording the highest success rate of 59.7 per cent, while only 33.3 per cent of auctions cleared in Tasmania.