The auction volume over the weekend was just 51 homes shy of 2,000, according to the latest figures from CoreLogic.
Three out of four auctions last week were successful according to preliminary results. The 75.6% clearance rate came in lower than last week's preliminary figure of 77.3%, which revised down to 73.5% at final figures.
On an annual basis, the latest clearance rate was substantially higher. While there were 2,139 homes taken to auction during the same period last year, only 46% were successful.
Sydney recorded the highest preliminary auction clearance rate of all capital cities at 84.3%. During the week, the New South Wales capital posted 724 auctions.
Melbourne was, once again, the busiest auction market, with 912 homes going under the hammer. The Victorian capital returned a clearance rate of 75.1%.
In Brisbane, half of the 140 auctions were successful. Canberra and Adelaide performed similarly — the two capital cities reported respective auction clearance rates of 64.2% and 63.3%.
The table below shows the performance of each capital city in terms of auction volume and clearance rate:
Capital City Auction Statistics |
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City |
Clearance Rate |
Total Auctions |
Clearance Rate(Last year) |
Total Auctions(Last year) |
|
Sydney |
84.3% |
724 |
44.6% |
675 |
|
Melbourne |
75.1% |
912 |
45.7% |
1,087 |
|
Brisbane |
50% |
140 |
38.1% |
129 |
|
Adelaide |
63.3% |
74 |
61.9% |
127 |
|
Perth |
58.3% |
28 |
37.9% |
39 |
|
Tasmania |
n/a |
2 |
n/a |
1 |
|
Canberra |
64.2% |
69 |
53.3% |
81 |
|
Weighted Average |
75.6% |
1,949 |
46% |
2,139 |
|
Source: CoreLogic |
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