A preliminary weighted average clearance rate of 69 per cent was recorded this week across capital cities compared to 63.5 per cent last week and 67.4 per cent this time last year.
Auction volumes were 14 per cent higher than this time last year due to increased listings in both Sydney and Melbourne.
Higher stock levels are providing increased opportunities for buyers in capital cities, especially in Melbourne.
In Sydney the auction market returned to trend after the second highest volume this year.
A preliminary clearance rate of 75.2 per cent recorded compared to 68.1 per cent last week and 75.3 per cent last year.
In Melbourne a preliminary clearance rate of 66.7 per cent was recorded compared to 65.5 per cent last week and 69 per cent this time last year.
Lower clearance rates have certainly been observed over the last three weeks.
Analysis shows that they have returned to trend after what was in retrospect a strong early spring.
In Brisbane a preliminary clearance rate of 45.3 per cent was recorded compared to 43.1 per cent last week.
Adelaide recorded a clearance rate of 60.7 per cent compared to 57.4 per cent last week.
In Canberra a clearance rate of 66 per cent was recorded.
In Perth a clearance rate of 66.7 per cent was recorded.
In Tasmania 4 auction sales were recorded and 3 homes were passed in.