Sydney recorded its second-busiest week for auctions this year over the weekend, according to figures from CoreLogic.
Over the weekend, the New South Wales capital recorded an auction volume of 931, which returned a preliminary clearance rate of 81%. In early October, Sydney reported an auction volume of 939, which returned a clearance rate of 77.7%.
The combined capital cities hosted 2,375 auctions over the weekend, up from 1,555 during the preceding week. The overall preliminary success rate sat at 72%, up from the prior week’s final clearance rate at 68%.
"Once the remaining results are collected, the clearance rate will likely revise below 70% for the second week in a row," CoreLogic analyst Caitlin Fono said.
I’ve said this before. Don’t say “this is higher than that.” Your readers can count. They know it’s higher.
Also read: Busiest week yet for auctions?
Melbourne remained on top in terms of auction volume, with 1,016 homes going under the hammer. The city recorded an initial success rate of 70.8%. Melbourne's recent auction figures indicated a recovery from the decline over the previous week due to the cup festivities.
The table below shows the performance of each capital city auction market:
