A preliminary weighted average clearance rate of 78.3 per cent was recorded this week across capital cities compared to 74.5 per cent last week and 70.8 per cent this time last year.
This is the highest national clearance rate in 6 years, since 79.7 per cent was recorded in September 2009 and provides a further indication of the improvement in demand since last year.
There can be no doubt now that the interest rate cut has had a positive impact on the real estate market.
In Sydney a preliminary clearance rate of 85.1 per cent was recorded compared to 84.2 per cent last week and 79.8 per cent last year.
Sydney continues to have the strongest auction market nationally and is providing vendors with unprecedented results.
In Melbourne the preliminary clearance rate was 77.8 per cent, compared to 75 per cent last week and 67 per cent this time last year. This is the highest clearance rate in a year and half and the market is now well ahead of this time a year ago.
In Brisbane a preliminary clearance rate of 57.1 per cent was recorded compared to 37.2 per cent last week and 54.5 per cent last year.
In Adelaide a preliminary clearance rate of 72.9 per cent compared to 60.7 per cent last week.
In Canberra a clearance rate of 73.3 per cent was recorded compared to 70.8 per cent last week.
In Perth a clearance rate of 41.7 per cent was recorded compared to 33.3 per cent last week and 41.9 per cent last year.
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