The national auction clearance rate delivered yet another mental result over the weekend, driven again by strong demand in Sydney and Melbourne.
The preliminary national clearance rate was 77.5%, up marginally from last week’s 77.4%, with clearance rates still running at their strongest level in six years in trend terms:
Sydney’s clearance rate fell 4.1% to 84.6%, whereas Melbourne’s rose by 0.4% to 78.5%. Clearances in Brisbane, which typically only has a small number of auctions, fell to 45.6% from 52.1% last weekend. Overall auction volumes (3,476) were up on last weekend’s 2,797.
The Real Estate Institute of Victoria reported a preliminary clearance rate of 79% on 1,336 reported auctions, which was up from the 77% clearance rate on 1,096 auctions reported last weekend.
For Sydney, Domain (formerly APM) reported a preliminary clearance rate of 88% on 836 reported auctions, which was up on the 86% clearance rate on 578 auctions reported last weekend.
