There were 1,529 homes taken to auction across the combined capital cities this week, returning a preliminary clearance rate of 77 per cent. Over the previous week, auction volumes were slightly higher with 1,615 homes taken to auction, while the final clearance rate came in at 70 per cent.
This time last year, 1,916 auctions were held across the capital cities with a final clearance rate of just 55.3 per cent. The final clearance rate across the combined capitals has held at or above 70 per cent for the last 3 weeks and this week is set to be no different.
Melbourne was host to 769 auctions this week, returning a preliminary clearance rate of 76.6 per cent. In comparison, last week saw 768 homes taken to auction and a final clearance rate of 74.4 per cent was recorded. Over the same week last year, a clearance rate of 60 per cent was recorded across 891 auctions.
Sydney recorded a preliminary clearance rate of 83.1 per cent across 522 auctions this week. Over the previous week, final results show 74.5 per cent of the 590 auctions were successful. One year ago, 656 auctions were held across Sydney returning a final clearance rate of just 50.6 per cent.
Across the smaller auction markets, Adelaide and Brisbane saw lower auction volumes week-on-week while Canberra saw an increase in the number of homes taken to auction over the week. Perth and Tasmania saw no change in auction activity week-on-week.