The preliminary auction clearance rate* of 67.4 per cent was recorded this week across capital cities compared to 62.3 per cent last week and 65.6 per cent this time last year.
Volumes have been lower this week as the market heads into a traditionally quieter time in winter. The higher clearance rate is largely a factor of a stronger Sydney market where a preliminary clearance rate 76.1 per cent was recorded compared to 71.4 per cent last week.
In Melbourne a preliminary clearance rate of 63.4 per cent was recorded compared to 61.9 per cent last week. Last week’s Melbourne clearance rate was the lowest since late 2012 and is running counter to the established trend through the last year and also reflects moderating growth in property values.
In Canberra a clearance rate of 58.8 per cent was recorded and in Perth there was one auction sale from eight results. In Tasmania there was two sales from three results.