From CoreLogic comes national auction results:
The headline results appear flattered by a stupid spike in Perth, nonetheless, rate cuts have drawn out some more buyers. Sydney and Melbourne are both now firmer than last year:
Melbourne had a preliminary clearance rate of 79.9 per cent this week, a rise from 74.2 per cent last week and higher than 76.5 per cent last year. This week, there were fewer auctions across the city, compared with the previous week, down from 724 to 604. One year ago, the auction market for Melbourne was busier, when 908 homes were taken under the hammer. The Inner sub-region of Melbourne was the busiest, there were 115 auctions held this week, with 106 reported so far and a clearance rate of 75.5 per cent. On the other hand, the Outer East had the strongest clearance rate at 90.9 per cent across 38 auction results.
Preliminary results across Sydney further show the city has maintained strength across the auction market, with 81.6 per cent of properties selling. Last week 77.5 per cent of Sydney homes were successful at auction and 77.3 per cent cleared over the corresponding week last year. For the past five weeks, auction volumes have remained relatively steady across Sydney, rising slowly, up to 610 this week, from 544 the last week and 509 the previous week. One year ago, 915 Sydney auctions were held. Individually, there was mixed performance across Sydney’s individual sub-regions this week. Clearance rates ranged from a high of 89.4 per cent across the Northern Beaches and a low of 64.3 per cent across the South West.
Full report.
