There were 1,587 capital city homes taken to auction this week. Of the 1,311 results collected so far, 84.5% have reportedly sold. This is an improvement on last week’s preliminary clearance rate of 81.9% when volumes were higher (2,473). Final figures by Wednesday saw last week’s preliminary clearance rate revised down to 79.3%. The lower volumes this week can be attributed to four of the states and territories welcoming a public holiday on Monday, including Melbourne where volumes are down substantially over the week.
Capital City Auction Statistics (Preliminary)
There were 477 Melbourne homes auctioned this week, down on the 1,299 last week. Of the results collected so far, 80.9% were sold results. The final clearance rate last week came in at 76.4% and one year ago 66.1% of auctions cleared when volumes were a lower 418.
Weekly Clearance Rate, Combined Capital Cities
In Sydney, 812 homes were taken to auction this week, returning a preliminary auction clearance rate of 86.7%. Last week, a higher 844 auctions were held with an 85.3% final clearance rate and one year ago 830 auctions took place and a 75.2% success rate was achieved.
According to preliminary figures, all of the smaller auction markets saw over 80% of auctions successful this week, Canberra returned the highest preliminary figure of 91.5%, followed by Brisbane (82.3%), Perth (81.8%) and Adelaide (81.7%).