Auction activity across the combined capitals remained relatively steady in the week ending April 22, according to CoreLogic’s latest Property Market Indicator Summary.
A total of 1,746 homes were taken to market, returning a success rate of 63.1%. This was a substantial increase from last week’s final clearance rate, which saw the lowest weighted average result thus far this year at 61.7% (1,915 auctions).
Melbourne saw a total of 905 auctions take place over the week ending April 22, returning a 63.8% preliminary clearance rate, which was slightly higher than the 62.4% during the previous week when 873 auctions were held.
In Sydney, the number of homes taken to auction fell to 551. The lower volumes returned a higher week-on-week clearance rate, with 66.4% of properties reportedly selling. This was a significant increase from the previous week’s final clearance rate of 61.5%, when volumes were higher (795).
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Watch Auction Insider for week ending 22nd April 2018
