Here’s this week’s RP Data National Auction Comment:
A preliminary weighted average clearance rate of 69.7 per cent was recorded this week across capital cities compared to 67.9 per cent last week and 69.3 per cent this time last year.
Both Sydney and Melbourne, which account for the majority of the auction market in Australia, had strong results with clearance rates above trend.
This week a preliminary clearance rate of 77.6 per cent was recorded in Sydney compared to 75.4 per cent last week. Prior to this weekend the year to date clearance rate was a healthy 74.4 per cent.
In Melbourne a result above trend for the year was reached with a preliminary clearance rate of 70.9 per cent recorded compared to 68.5 per cent last week. Not including this weekends resultsthe clearance rate for the first 8 months of the year was 67.3 per cent.
In Brisbane a preliminary clearance rate of 32.3 per cent was recorded compared to 44.7 per cent last week. Adelaide recorded a clearance rate of 60.3 per cent compared to 60.3 per cent last week. In Canberra a clearance rate of 59.1 per cent was recorded and in Perth there was a clearance rate of 46.2 per cent.