A preliminary weighted average clearance rate of 59.9 per cent was recorded this week across capital cities compared to 66.4 per cent last week and 61.4 per cent this time last year.
This is well below the year’s high of 76.2 per cent recorded in late February, however comparatively low volumes this week reduce its value as an indicator to the state of the market.
In the Sydney market a preliminary clearance rate of 65.7 per cent was recorded compared to 73 per cent last week.
In Melbourne there was a preliminary clearance rate of 61 per cent recorded compared to 65.4 per cent last week.
In Brisbane a preliminary clearance rate of 42.9 per cent was recorded compared to 42.5 per cent last week. Adelaide recorded a clearance rate of 63 per cent compared to 55.3 per cent last week.
In Canberra a clearance rate of 50 per cent was recorded and in Perth there was a clearance rate of 33.3 per cent. In Tasmania 4 homes sold from 17 auctions.