Auctions continue to soar across combined capitals

“Preliminary results show a clearance rate of 74.1 per cent, compared [with] last week’s final clearance rate of 70.6 per cent,” CoreLogic said.

“One year ago, 2,745 auctions were held across the combined capitals, with only 42.0 per cent returning a successful result.”

Melbourne by itself also recorded its second-busiest auction week this year, seeing 1,745 auctions, returning a preliminary clearance rate of 77 per cent.

“Over the previous week, 1,032 homes were taken to auction, returning a final clearance rate of 71.7 per cent. This time last year, a clearance rate of 41.3 per cent was recorded across 1,401 auctions,” CoreLogic noted.

Meanwhile, there were 932 homes taken to auction across Sydney this week, with preliminary results showing a clearance rate of 77.2 per cent.

“The previous week saw a final clearance rate of 76.8 per cent across a similar number of auctions (948). One year ago, 875 auctions were held across Sydney, returning a final clearance rate of 42.8 per cent,” CoreLogic said.

“Across the smaller auction markets, Adelaide saw an increase in auction volumes week-on-week, while Brisbane, Canberra and Perth saw fewer homes taken to auction over the week.

“Tasmania saw no change in auction numbers week-on-week, with a total of five properties taken to auction.”