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Clearance rate dips on lower volumes

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. 

Source: CoreLogic

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%. 

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