A preliminary weighted average clearance rate of 66.7 per cent was recorded this week across capital cities compared to 70.8 per cent last week and 70 per cent this time last year.
All capital cities have seen a higher number of auctions than last year. Compared to last year the best performing auction markets from the perspective of relative improvement this year have been Sydney, Tasmania and then Adelaide.
Sydney has seen a 63 per cent rise in the number of homes sold at auction, Tasmania a 56 per cent rise and a 48 per cent rise was recorded in Adelaide.
It should be noted that there have been 357 auctions in Tasmania this year, 2,467 in Adelaide and 22,329 in Sydney.
In Sydney a preliminary clearance rate of 76.2 per cent was recorded this week compared to 76.2 per cent last week. Compared to last year and over recent months Sydney has clearly been the strongest auction market.
In Melbourne there was a preliminary clearance rate of 64.1 per cent recorded compared to 73.3 per cent last week.
Melbourne remains on trend and once final results are in should confirm it has a healthy auction market on the eve of spring.
In Brisbane a preliminary clearance rate of 52.1 per cent was recorded compared to 50 per cent last week.
Adelaide recorded a clearance rate of 68.5 per cent compared to 65.6 per cent last week.
In Canberra a clearance rate of 46.9 per cent was recorded and in Perth there was a clearance rate of 38.9 per cent.
Subscribe & don’t miss a single episode of Michael Yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to Michael Yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.