A preliminary weighted average clearance rate of 68.5 per cent was recorded this week across capital cities compared to 67.8 per cent last week and 70.4 per cent this time last year.
This result is consistent with the years trend. The year to date clearance rate for capital cities was 68.3 per cent before this week
In Sydney a preliminary clearance rate of 75.5 per cent was recorded compared to 71.9 per cent last week and 79.5 per cent last year.
Despite the clearance rate not being higher than a year ago the auction market has improved with more homes being sold.
In Melbourne there was a preliminary clearance rate of 68 per cent recorded compared to 70 per cent last week and 68.6 per cent this time last year.
Concerns the auction market was beginning to weaken have not been added to this week. Next week will prove an interesting test with a record of around 1800 auctions scheduled.
In Brisbane a preliminary clearance rate of 50.5 per cent was recorded compared to 48.8 per cent last week.
Adelaide recorded a clearance rate of 50 per cent compared to 55.8 per cent last week.
In Canberra a clearance rate of 50 per cent was recorded and in Perth a clearance rate of 60 per cent was recorded.
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.
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.