There were 1,605 homes taken to auction across the combined capital cities this week, increasing on the week prior when 1,415 homes were auctioned. The higher volumes saw the preliminary clearance rate soften, coming in at 73.6 per cent after the week prior returned a final auction clearance rate of 74.2 per cent; the highest since April 2017. Year-on-year results continue to see volumes trend lower each week compared to corresponding week’s one year ago, while clearance rates are up by around 15-20 percentage points.
Melbourne returned a preliminary auction clearance rate of 76.1 per cent this week as volumes increased across the city.
There were 769 homes taken to market across Melbourne, up on the 662 auctions held last week when a higher 77 per cent sold as at final figures.
In Sydney, 584 homes were taken to auction returning a preliminary auction clearance rate of 78.9 per cent, increasing on the 503 auctions held the week prior when the city returned a final clearance rate of 78.1 per cent.
Across the smaller auction markets, Adelaide saw 62.5 per cent of homes sell at auction, making it the best performing of the smaller auction markets, although Canberra wasn’t far behind with a preliminary clearance rate of 61.5 per cent.