Sydney leads as national clearance rate dips to 65.9%

A preliminary weighted average clearance rate of 65.9 per cent was recorded this week across capital cities compared to 68.9 per cent last week, and 70.1 per cent this time last year. 

The lower clearance rate was a result of a softening in the Melbourne market. This contrasted with the very buoyant outcome in Sydney and Adelaide.

RP Data National Auction Comment

Sydney continues to be the capital city with the strongest and most consistent auction market. A preliminary clearance rate of 75.5 per cent was recorded this week compared to 76.7 per cent last week.

RP Data National Auction Comment - Sydney

The lowest result in 9 weeks occurred in Melbourne where a preliminary clearance rate of 63.9 per cent recorded compared to 69 per cent last week. Auction numbers have risen in the inner east after a seasonal lull. Rising stock numbers in the next month will clearly test the market.

RP Data National Auction Comment - MelbourneIn Brisbane a preliminary clearance rate of 35.3 per cent was recorded compared to 36.7 per cent last week.

RP Data National Auction Comment - BrisbaneAdelaide recorded a very strong clearance rate of 75 per cent compared to 61 per cent last week. Low stock numbers at this time of the year can affect the clearance rate by making in more variable than in spring and summer.

In Canberra a clearance rate of 45.8 per cent was recorded and in Perth there was a clearance rate of 66.7 per cent.

RP Data National Auction Comment - Adelaide



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Robert Larocca

About

Robert Larocca is RP Data's Victoria Housing Market Specialist. He has built a profile over the past eight years as an expert on the Victorian residential property market. Visit www.rpdata.com


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