This week CoreLogic has reported that the combined capital city preliminary auction clearance rate increased across a higher volume of auctions.

There were 1,090 homes taken to auction over the week, up from 648 over the previous week although significantly lower than this time last year (2,022).

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Source: CoreLogic

Of the 822 results collected so far, 71.5 per cent were successful, up from last week’s preliminary figure of 69.3 per cent which later revised down to 64.4 per cent at final collection.

Over the same week last year, a final clearance rate of 73.5 per cent was reported across the combined capitals.

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Source: CoreLogic

Melbourne

Auction activity remains low across Melbourne this week with 60 homes taken to auction.

Of the 52 results collected so far, 59.6 per cent were successful while just under one third of reported auctions were withdrawn.

Over the previous week, 55 auctions were held across the city, while this time last year, 974 Melbourne homes were taken to auction.

Sydney

Sydney was host to 754 auctions this week, up from both last week when 430 auctions were held, and this time last year when 733 homes were taken to auction.

Of the 587 auction results collected so far, 73.1 per cent were successful, similar to last week’s preliminary result of 73.2 per cent which revised down to 65.8 per cent at final results. 

This time last year, Sydney recorded a final auction clearance rate of 76.9 per cent.

The unique apartment in historic Clliff Towers, situated on the northern most point of Sydney's exlusive Point Piper, has sold for the first time in 70 years for $13,025,000.

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Canberra

Across the smaller markets, Canberra recorded the highest preliminary clearance rate of 79.5 per cent, across 78 auction results.

Adelaide

The city of churches followed with a preliminary clearance rate of 70.7 per cent across 41 results.

Brisbane

Brisbane was next with a preliminary clearance rate of 60.7 per cent with 100 total auctions being held for the week.

In Pullenvale, 153 Obrien Road sold at auction for $1.277 million through Paris Arthur of Place Graceville.

The Queenslander contains incredible character details and is situated on a hectare.

"There was very strong interest that had been backed by a very solid marketing campaign," said Mr Arthur.

"There was predominantly interest coming from people moving for the lifestyle, but it was a Sydney couple who were the successful buyers."

Mr Arthur said there were 80 inspections with 6 registered buyers on the day of the auction.

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153 Obrien Road, Pullenvale sold at auction through agent Paris Arthur of Place Graceville. Photo: Place

Perth

Over in the west there were 11 auctions which resulted in a preliminary clearance rate of 57.1 per cent.

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