Auction clearances hover above 70%

Auction clearance rates remained solid over the weekend, with the preliminary rate nationally coming in at 71.3%, down a few percent from 74.4% last weekend:

Auction clearances were also way above the 49.5% recorded in the same weekend last year:

 

Sydney’s preliminary clearance rate was 79.8%, up from 77.7% last weekend, and way above the 46.1% recorded in the same weekend last year.

Melbourne’s preliminary clearance was 73.8%, down from 82.5% last weekend, but way above the 51.8% recorded in the same weekend last year.

Both are still pointing to strongly rising prices:

However, auction volumes (1,324) were well below last year’s 1,817, with the trend weak:

Domain’s auction results were similar, but based on a smaller sample size:

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