CoreLogic’s recent auction data for the June quarter showed that both the number of auctions and the clearance rate dropped significantly. But certain suburbs performed much better than others.
In Sydney, the highest performing suburb was Cremorne, with 23 of 30 properties under the hammer selling, a 76.7 per cent clearance rate.
Other hot areas in Sydney included Leichhardt with a 75 per cent clearance rate, Earlwood with 72.4 per cent, Revesby at 72.7 per cent, Wollstonecroft at 69.2 per cent and Bondi at 68.6 per cent.
In Melbourne, Caulfield South is the most successful suburb for auctions, with 76.2 per cent clearance rate, and 16 properties sold in 21 auctions.
Also performing well in Melbourne during the June quarter was Eltham (72.7 per cent clearance rate); Balwyn North (68 per cent); Pascoe Vale 65.9 per cent; Burwood East (65 per cent) and Kew (64 per cent).
Regionally, clearance rates were strongest in Geelong (45.5 per cent) and the Hunter (44.9 per cent).
As CoreLogic doesn’t tally any suburb with less than 20 auctions during the period, clearance rates for suburbs within the other states and territories were not calculated.
Meanwhile, the below graph shows the clearance rate in each capital city.
