NationalReal Estate News

Spring auction clearance rates reach a new year to date high

According to CoreLogic’s preliminary weekend summary, Spring has sprung with auction rates this weekend seeing a combined capital city clearance of 78.4 percent, a new high for the year.

  • The number of homes taken to auction this week fell slightly to 1,858, compared to the 2,153 auctions held last week and 2,297 one year ago.
  • The preliminary clearance rate was higher than the previous week’s result of 74.5 and up from last year, when the clearance rate was recorded at 73.2 per cent.
  • Preliminary results this week are the highest recorded this year.
  • The results show that Melbourne and Sydney recorded the highest clearance rates of (79.3 per cent) and (83.9 per cent) respectively, however, both cities were host to fewer auctions this
    week when compared to last week.

Preliminary clearance rates in each state:

  • Melbourne – 826 auctions, clearance rate up 79.3% (LW 1060 auctions 77.4% clearance LY 992 auctions, 75% clearance)
  • Sydney – 715 auctions, clearance rate up 83.9% (LY 1,023 auctions 76.9% clearance)
  • Brisbane – 135 auctions, 77 results reported so far 58.4% clearance (highest for this year so far)
  • Adelaide – 57 auctions, 80.7% clearance rate
  • Perth – 26 auctions, preliminary clearance rate 34.8%
  • Canberra – 76 results captured, 77.8% clearance (highest this year so far)
  • Tasmania – 7 auctions, 5 results reported, 0 sales.

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