Clearance Rates Highest Since March

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Capital city auction clearance rates have rebounded strongly, registering a preliminary strike rate of 72% last weekend, according to CoreLogic.

 

The result is the highest clearance rate recorded since early March and compares to 71% for the same time last year.

 

There were 918 homes taken to auction over the week, up from 816 over the previous week.

 

Against 74 auctions, Canberra recorded the strongest results at 89%. Sydney held 679 auctions with 72% going under the hammer successfully, while Adelaide had 73 auctions with 64% being cleared. The numbers in Brisbane were similar with 62% of the 65 auctions proceeding to sale.

 

Around the nation, good results were noted at the Sunshine Coast where 91% of auctions were successful; followed by Baulkham Hills, Hawkesbury and South West Sydney at 86%, and Newcastle and Lake Macquarie at 82%.

 

Auction activity remained extremely low across Melbourne, with just 11 homes taken to auction last week and 13 the week before.

 

 

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