There were 1,890 homes taken to auction across the combined capital cities this week, with preliminary results showing a 64.5 per cent success rate. In comparison, 1,839 auctions were held last week and the final clearance rate came in at 62.8 per cent. Over the same week last year, auction volumes were significantly lower due to the Easter weekend with just 493 homes going under the hammer across the combined capital cities, although the clearance rate was a stronger 73.9 per cent.
In Melbourne, a preliminary auction clearance rate of 64.3 per cent was recorded across 874 auctions this week, down from 68.2 per cent across 723 auctions last week. Over the same week last year, 102 homes were taken to auction across the city, returning a clearance rate of 81.3 per cent.
Sydney was host to 774 auctions this week, with preliminary results showing a 64.9 per cent success rate, up from 62.9 per cent across 795 auctions last week. This time last year, the clearance rate was a stronger 77.0 per cent across 279 auctions.
Canberra recorded the highest preliminary clearance rate this week (74.3 per cent), followed by Adelaide (70.6 per cent).
Looking at auction volumes, Melbourne was the only city to see an increase in the number of homes taken to auction this week, while all other cities saw lower volumes week-on-week.