Auction clearance rates have remained under 70% for the 10th week in a row.
A preliminary weighted average clearance rate of 66.6 per cent was recorded this week across capital cities compared to 63.7 per cent last week and 64.5 per cent this time last year.
High auction volumes and a market where value growth is moderating explain why the capital city auction clearance rate has remained below 70 per cent for the past 10 weeks.
In Sydney a preliminary clearance rate of 71.7 per cent recorded compared to 70.6 per cent last week and 73.8 per cent last year.
The market in Sydney may have eased from the perspective of the clearance rates however a longer term view shows the remarkable increase in homes offered at auction.
Compared to the same recent 4 week period the number of auctions is up 22.6 per cent on last year and 90 per cent on 2012.
In Melbourne a preliminary clearance rate of 67.1 per cent was recorded compared to 63 per cent last week and 63.3 per cent this time last year.
This week was the second largest on record with the 1,823 auctions missing the previous high in late October by 14.
In Brisbane a preliminary clearance rate of 35.2 per cent was recorded compared to 37.8 per cent last week.
Not unlike other capital cities the Brisbane auction market is showing a lower clearance rate as we get closer to Christmas.
In Adelaide a preliminary clearance rate of 68 per cent compared to 62.3 per cent last week.
In Canberra a clearance rate of 62.1 per cent was recorded.
In Perth a clearance rate of 38.1 per cent was recorded.