Here’s this week’s RP Data National Auction Comment:
A preliminary weighted average clearance rate of 67.3 per cent was recorded this week across capital cities compared to 69.3 per cent last week and 65.3 per cent this time last year.
With Sydney recording strong results on a consistent basis the national clearance rate is proving to be variable due to the Melbourne auction market.
This is not necessarily a negative sign as results are still stronger than a year ago.
Sydney again recorded the strongest preliminary clearance rate, reaching 75.9 per cent compared to 75.2 per cent last week.
The consistent strong results should help ensure a spring with plenty of listings as owners will be encouraged to sell.
In Melbourne, a preliminary clearance rate of 66.1 per cent was recorded compared to 68.4 per cent last week.
The variable results currently being recorded on a weekly basis are not negatively affecting the volume of homes being offered at auction.
In Brisbane a preliminary clearance rate of 44.2 per cent was recorded compared to 56.9 per cent last week.
Adelaide recorded a clearance rate of 62.8 per cent compared to 69 per cent last week.
In Canberra a clearance rate of 53.1 per cent was recorded and in Perth there was a clearance rate of 53.8 per cent.