The national auction clearance rate delivered yet another turbo-charged result over the weekend, driven again by strong demand in Sydney and Melbourne.
The preliminary national clearance rate was 77.4%, down only slightly from last week’s 78.3%, with clearance rates still running at their strongest level in six years in trend terms:
Sydney’s clearance rate fell 0.4% to 88.7%, whereas Melbourne’s rose by 0.3% to 78.1%. Clearances in Brisbane, which typically only has a small number of auctions, fell to 52.1% from 57.1% last weekend. Overall auction volumes (2,797) were up on last weekend’s 2,473.
The Real Estate Institute of Victoria reported a preliminary clearance rate of 77% on 1,096 reported auctions, which was down slightly from the 78% clearance rate on 959 auctions reported last weekend.
For Sydney, Domain (formerly APM) reported a preliminary clearance rate of 86% on 578 reported auctions, which was up on the 84% clearance rate on 497 auctions reported last weekend.
