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 78.3%, up from last week’s 73.0%, with clearance rates running at their strongest level in six years!
Sydney’s clearance rate rose 1.8% to 85.1%, whereas Melbourne’s rose by 4.1% to 77.8%. Clearances in Brisbane, which typically only has a small number of auctions, rose sharply to 57.1% from 35.5% last weekend. Overall auction volumes (2,473) were also up significantly on last weekend’s 1,554.
The Real Estate Institute of Victoria reported a preliminary clearance rate of 78% on 959 reported auctions, which was up from the 71% clearance rate on 306 auctions reported last weekend.
For Sydney, Domain (formerly APM) reported a preliminary clearance rate of 84% on 497 reported auctions, which was up on the 83% clearance rate on 465 auctions reported last weekend.
