A preliminary auction clearance rate* of 65.4 per cent was recorded this week across capital cities compared to 65.0 per cent last week and 67.3 per cent this time last year.
The auction clearance rate has maintained a stable performance despite a 42 per cent rise in the number of properties taken to auction this week and concerns the federal budget may have a negative impact on buyer demand.
Auction numbers rose steeply this week and it is significant that the clearance rate didn’t drop below the lows of the last fortnight.
Adelaide recorded a clearance rate of 65.5 per cent compared to 62.3 per cent last week. In Canberra a clearance rate of 52.6 per cent was recorded and in Perth there were 8 auction sales from 17 results. In Tasmania there was 2 sales from 5 results.
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.