This week’s CoreLogic Property Market update

Preliminary results show 59.1 per cent of capital city homes sell as volumes increase.

This week saw auction volumes increase across the combined capital cities, with 1,907 homes taken to auction returning a preliminary clearance rate of 59.1 per cent.  37167921_l

While the preliminary clearance rate shows a week-on-week improvement, it’s likely that as final results are collected the weighted average will fall to remain within the low-mid 50 per cent range where it has been tracking for some time now.

Last week, a slightly lower 1,748 auctions were held and a final clearance rate of 55 per cent was recorded.

Compared to results over the same week last year, the auction market was performing quite differently, with a higher 66.9 per cent success rate, across a higher volume of auctions (2,258 auctions).

Results by property type show the unit market outperformed houses this week, with preliminary results showing 63.9 per cent of units sold, while houses came in with a lower 57.1 per cent success rate. 

investor-enquiry-form

However, as usual houses accounted for a much larger proportion of overall auctions.

In Melbourne, a preliminary auction clearance rate of 62.4 per cent was recorded across 894 auctions this week, up from 57 per cent across a lower 805 auctions last week.

One year ago, the clearance rate was a stronger 71.8 per cent across a significantly higher volume of auctions (1,111).

This week, there were 654 auctions held in Sydney, returning a preliminary auction clearance rate of 57.8 per cent.

Last week, there were 664 auctions held and the final auction clearance rate was 53.8 per cent, while one year ago, 826 Sydney homes went to auction and the clearance rate came in at 65.8 per cent.

Auction 1

Auction 2Auction 3Auction 4Auction 5Auction 6

Auction 7Auction 8

icon-podcast-large

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.

icon-email-large

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.


Avatar for Property Update

About

Cameron Kusher is Corelogic RP Data’s senior research analyst. Cameron has a thorough understanding of the fundamentals such as demographics, trends & economics. Visit www.corelogic.com.au


'This week’s CoreLogic Property Market update' have no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.
CAPTCHA Image

*


facebook
twitter
google
0
linkedin
0
email
Michael's Daily Insights

Join Michael Yardney's inner circle of daily subscribers.

NOTE: this daily service is a different subscription to our weekly newsletter so...

REGISTER NOW

Subscribe!