Login
iscover
It’s the 11th straight week in which the combined capitals’ preliminary clearance rate has hovered in the 60 per cent range.
According to CoreLogic, the preliminary auction clearance rate came in at 65.3 per cent last week. It’s a marginal gain from the week prior’s figures, which initially were reported as 64.1 per cent, revising down to 57.3 per cent on final figures.
So far this season, the spring preliminary clearance rate has averaged 66.7 per cent.
Volumes were down last week, though they are expected to rise as the end of the year draws near.
Last week saw 2,577 auctions, down from 2,898 the week prior. Next week 2,750 auction campaigns are slated to hit the block.
Melbourne was the only capital home to more than 1,000 auctions last week, with 1,111 homes taken under the hammer. Melbourne returned a preliminary clearance rate of 65.2 per cent, up from the previous week’s 64.9 per cent, which revised down to 56.9 per cent.
Sydney saw a drop in volumes last week, recording less than a thousand homes under the hammer for the first time in four weeks, with 984. Of those that tried their luck in front of live bidders, 68.4 per cent have so far been reported as successful, up 5 percentage points from the previous week’s 63.4 per cent early clearance rate, which revised down to 57.9 per cent..
Across the smaller cities, Brisbane held the most auctions, with 233 homes going under the hammer, the city’s second highest volume of auctions so far this year. The Queensland capital returned a 56.8 per cent preliminary clearance rate, up slightly from 56.3 per cent a week earlier.
Adelaide held 143 auctions with a preliminary clearance rate of 66.3 per cent, Canberra had 91 homes on the block with a 52.7 per cent preliminary clearance rate, and in Perth, six auction results have been collected so far with four reported as successful.
You are not authorised to post comments.
Comments will undergo moderation before they get published.