The national auction clearance rate was flat over the weekend, with an increase in Melbourne offset by falls in Sydney and Brisbane.
According to RP Data, the national weighted average preliminary auction clearance rate was 66.6% over the weekend, which was exactly the same as last week. Sydney’s clearance rate fell by 3.5% to 71.7%, whereas Melbourne’s rose to 67.1% (last weekend 63.7%). Brisbane, which typically only has a small number of auctions, experienced a big fall in its clearance rate (down 10.7% to 35.2%). Overall auction volumes (3,692) were up on last weekend’s 3,353.
The trend in the national clearance rate is still down and hovering around the same level as this time last year (see next chart).
The Real Estate Institute of Victoria reported a preliminary clearance rate of 69% on 1,347 auctions reported to the REIV, which was up from the 65% on 1,181 reported auctions recorded last weekend.
For Sydney, Domain (APM) reported a preliminary clearance rate 70.5% on 1,028 reported auctions, which was down from the clearance rate of 75% recorded on 648 auctions last weekend.
