Sydney posted a preliminary clearance rate of 76.6 per cent, based on the 696 reported results of the scheduled 849 auctions, CoreLogic figures on Sunday showed.
Last week, Sydney had a final clearance rate of 73.3 per cent based on the results of 851 auctions.
Melbourne is playing catch-up after a start to the spring market was delayed by pandemic lockdown restrictions and the city’s 73.5 per cent clearance rate reflected the results so far of 502 of the Victorian capital’s 603 scheduled auctions. In the equivalent week last year, the city had 1,242 auctions.
Outside the two largest cities, Adelaide returned the highest preliminary clearance rate, with 40 of the 44 reported auctions selling. There were 79 auctions scheduled for the weekend in the South Australia capital.
Canberra had 95 auctions scheduled and reported a preliminary clearance rate of almost 90 per cent. Brisbane reported a 53.1 per cent rate, based on the 49 reported results of the city’s scheduled 87 auctions.had just 26 auctions scheduled and a preliminary clearance rate of 36.8 per cent.
The national clearance rate was 75.1 per cent. Clearance rates usually fall during the week as the results of more auctions being included in the mix.