The combined capital city preliminary clearance rate increased to 70.0 per cent this week, up from 68.3 per cent last week, while auction volumes fell week-on-week. There were 2,060 properties taken to auction this week, down from 2,270 last week, although higher than this time last year, when 1,899 auctions were held and a clearance rate of 77.1 per cent was recorded. The final clearance rate across the combined capital cities has been sitting in the mid-high 60 per cent range since June and it is likely that this will be the case again on Thursday when our final results are published. All but two of the capital cities saw the clearance rate increase week-on-week.
Across Melbourne, preliminary results show that 73.5 per cent of the 839 reported auctions sold this week. There were 976 properties taken to auction across the city, down from 1,124 last week when the final clearance rate was recorded at 72.3 per cent. Over the same week last year, 830 auctions were held and a clearance rate of 79.3 per cent was recorded. The Inner region of Melbourne had the highest number of auctions this week (184), with a preliminary clearance rate of 70.1 per cent. However, the strongest rate of clearance was recorded across the Outer East region, where 80.8 per cent of the 52 auctions were successful.
Sydney was host to 770 auctions this week and a preliminary clearance rate of 70.5 per cent was recorded, rising from 67.4 per cent last week across 832 auctions. One year ago, 747 auctions were held across Sydney and a much stronger clearance rate was recorded (80.7 per cent). Looking at the sub-regions of Sydney, 7 of the 15 sub-regions recorded clearance rates above 70 per cent with the stand outs being the Eastern Suburbs (81.3 per cent), City and Inner South (79.6 per cent), Inner South West (78.7 per cent) and North Sydney and Hornsby (75.3 per cent) regions.
The preliminary clearance rate in Brisbane this week increased to 47.1 per cent, from 43.9 per cent last week. Auction volumes were slightly lower this week with 136 auctions held, down from 140 last week. Meanwhile, across the Gold Coast, just 28.0 per cent of the 25 reported auctions were successful.
In Adelaide, a 60.4 per cent preliminary result was recorded this week across 75 auctions. Last week, 69 Adelaide auctions returned a clearance rate of 68.3 per cent for the city, while at the same time last year, 74 homes were taken to auction, with 79.1 per cent recording a successful result.
Perth’s clearance rate of 63.6 per cent across 11 auction results is up from last week, when 35 auctions were held and a clearance rate of 48.3 per cent was recorded. Over the same week last year, the clearance rate was a lower 46.7 per cent, and 27 auctions were held.
Across Canberra, 69 homes were taken to auction this week. Preliminary results show a clearance rate of 68.4 per cent, down from 71.9 per cent the previous week.
Tasmania was host to 10 auctions this week and so far 8 have been reported with a 100 per cent success rate.