Auction markets across capital cities recorded higher volumes and success rates over the past week on a weekly and annual basis, according to the latest figures from CoreLogic.
Over the weekend, 2,446 homes were taken to auction, growing from 1,596 auctions during the last weekend and 2,293 over the same period last year. The latest auction volume returned a clearance rate of 77.7%.
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Melbourne, once again, was the busiest market after it witnessed 1,215 auctions, of which 79.6% were successful.
Sydney, on the other hand, reported the highest clearance rate at 81.5% for 938 auctions.
Clearance rates across capital cities were significantly higher in most cities from a year ago. Sydney, for instance, recorded a success rate of 50.2% for 801 auctions last year, a far cry from the recent results of 81.5% for 938 auctions.
Below is a graph that shows the difference between the recent clearance rates and those recorded during the same period last year:
