So far this week, 1,683 capital city auction results have been reported to CoreLogic, resulting in a preliminary auction clearance rate of 76.4 per cent across the combined capital cities.
This week, 2,026 total auctions were held across the capital cities, higher than last week, when 1,899 auctions were held, but remaining lower than one year ago when 2,654 capital city properties went under the hammer.
Clearance rates are still tracking above 70 per cent, which they have done since the last week in July.
This week’s preliminary clearance rate is down slightly from last week’s clearance rate of 77.1 per cent, which was the highest clearance rate recorded for the year to date.
At the same time last year the clearance rate was 71.2 per cent.
In Melbourne, a preliminary auction clearance rate of 78.7 per cent was recorded, lower than last week’s (79.3 per cent), which was the highest clearance rate the Melbourne property market had recorded for the year so far.
There were 978 auctions held across the city this week, up from 830 last week and lower than the 1,189 auctions held one year ago.
The Inner sub-region of Melbourne had the most auctions this week (206), with a preliminary clearance rate of 76.0 per cent.
Meanwhile, the strongest clearance rate was recorded across the Mornington Peninsula region, where each of the 28 reported auctions were sold.
There are still six remaining auction results to be collected across the region.
Across Sydney, 720 homes were taken to auction this week with a preliminary clearance rate of 80.0 per cent across 604 reported results.
Last week, the final clearance rate for the city was 80.7 per cent across 747 auctions.
One year ago, 1,075 Sydney homes were taken to auction and the clearance rate was 73.1 per cent.
This week, the performance across Sydney’s individual sub-regions was varied.
Across the Eastern region, where 71 results have been reported so far, the preliminary clearance rate was 91.6 per cent, while the Central Coast sub-region has reported a success rate of 58.3 per cent across 12 results.
The Brisbane housing market was host to 148 auctions this week and so far 72 results have been reported.
The preliminary clearance rate for the city is 55.6 per cent, up from 52.2 per cent last week and higher than one year ago, when 50.3 per cent of the 179 properties taken to auction were successful.
The number of homes taken to auction this week increased across the Gold Coast, with 82 auctions held.
Of the 43 results reported, just over half (53.5 per cent) were successful.
Adelaide recorded a clearance rate of 76.7 per cent across 88 auctions this week, down from the highest clearance for the year of 79.1 per cent across 74 auctions last week.
At the same time last year, 89 homes were taken to auction, with 62.4 per cent recording a successful result.
In Perth, 28 auctions were held this week, with 14 results reported so far.
Perth’s preliminary clearance rate of 21.4 per cent is lower than both last week’s result (46.7 per cent) and the clearance rate from one year ago (54.2 per cent).
Across Canberra a total of 60 auctions were held this week, compared to 77 last week and 79 at the same time last year.
Canberra’s preliminary clearance rate of 78.2 per cent is slightly lower than it was the previous week (78.5 per cent) and up from (65.2 per cent) at the same time last year.
In Tasmania, 4 auctions were reported to CoreLogic with no sales.
Last week, 7 auctions were reported with 1 sale.
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