A preliminary auction clearance rate* of 68.3 per cent was recorded this week across capital cities compared to 67.1 per cent last week and 72.1 per cent this time last year.
Auction volumes reached record levels across the nation in May. This week’s clearance is lower than this time last year however there were 3,037 auctions held compared to only 1,845 in capital cities this time last year. The higher volumes are partly the result of an increased use of auctions to take advantage of improved demand from buyers.
In the Sydney market a preliminary clearance rate of 77.1 per cent recorded compared to 73.1 per cent last week.
In Brisbane a preliminary clearance rate of 48.8 per cent was recorded compared to 49.4 per cent last week. Adelaide recorded a clearance rate of 59.3 per cent compared to 64.2 per cent last week. In Canberra a clearance rate of 64 per cent was recorded and in Perth there was a clearance rate of 58.8 per cent.