In this weeks CoreLogic market data report we explain how…
Capital city clearance rate remains above 70% for the fourth consecutive week.
This week marks the fourth consecutive week of the combined capital city clearance rate being above the 70 per cent mark, with the stronger than expected auction results continuing through the final week of February.
Capital city auction results haven’t recorded a four week period where the clearance rates was consistently higher than 70% since early September last year.
Based on 2,113 reported results, the preliminary clearance rate across the combined capitals was 72.4 per cent this week, having strengthened from 71.8 per cent last week when 2,347 auctions were held.
Auction activity continues to pick up with 2,620 auctions scheduled this week; however is yet to reach the same levels seen at the same time last year which is more than likely attributed to Melbourne’s Labour Day public holiday fal ling a week later this year.
Last year’s final auction clearance rate for the week was 76.4 per cent across a total of 3,238 auctions.