This weekend saw 2,041 capital city auctions and of the 1,642 results collected so far, a 78.5% auction clearance rate has been recorded. Both volumes and clearance rates were down on last week’s figure when 2,467 auctions and the 80.5% preliminary clearance rate.
Looking at results by property type, houses have outperformed units throughout the year, recording final clearance rates above 80% for consecutive weeks. This is the first week where the preliminary figure for houses has dipped below 80% with 79.6% of houses recording a sold result compared to the 74.7% units that have sold this week.
In Melbourne, auction volumes fell with 925 properties going under the hammer last week. Of the 770 results collected so far, 76.1% were successful results. Compared to last week, a higher 1,221 auctions were held, recording a preliminary auction clearance rate of 78.1%.
Sydney recorded a preliminary clearance rate of 82.1% this week across 777 auctions. This was lower than last week’s preliminary figure of 84.8%.
Canberra was once again the stand-out capital city auction market, recording a preliminary auction clearance rate of 97.7% this week. Brisbane recorded the second highest preliminary figure of the smaller capital cities at 76.2%.