This week CoreLogic has reported that the combined capital city preliminary auction clearance rate has improved this week as volumes rose.

There were 1,134 homes taken to auction, up from the 1,084 auctions held last week.

Of the 878 results collected so far, 72.4 per cent were successful, higher than last week’s preliminary figure of 71.5 per cent, which by final collection on Wednesday revised down to 66.4 per cent.

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Source: CoreLogic

Over the same week last year, a final clearance rate of 72.1 per cent was reported across a higher 1,955 auctions.

Melbourne

Melbourne saw a substantial increase in scheduled volumes this week, with 188 homes taken to auction, up on the 59 auctions last week and the largest number of auctions in two months.

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Source: CoreLogic

Of the 143 results collected so far, 93 were successful and 14 were withdrawn, equating to a preliminary clearance rate of 65 per cent and a withdrawal rate of 10 per cent.

Of the sold results collected, 27 per cent sold prior to the scheduled auction event, which was much lower than the recent trend where a high proportion of auctions have been selling prior to the auction being held rather than under the hammer.

One year ago, 915 Melbourne homes were auctioned with 73.3 per cent selling.

Sydney

Sydney continues to make up over 60 per cent of all auction activity. Although volumes were lower over the week, with 707 homes taken to auction down from the 751 held over the week prior.

Of the 560 results collected a preliminary clearance rate of 75.9 per cent was achieved.

Last week, Sydney’s final clearance rate came in at 67.2 per cent and this time last year a final auction clearance rate of 79.2 per cent across 727 auctions was recorded.

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52 Mi Mi Street, Oatley sold through agent Nathan Berlyn of The Agency. Photo: The Agency

Nathan Berlyn of The Agency sold 52 Mi Mi Street, Oatley, on Thursday night for a record price of $3,475,000, a record for a non-waterfront home in Oatley.  

The buyer was a family from Vaucluse and the owners/ vendors, Jack and Lina Auon, built the home to a very high spec and are now downsizing. 

There was great interest shown with 200 groups going through the property and 15 contracts sent out.

The final price was $235k above the previous non-waterfront record.

It had been previously listed with other agencies but successfully sold by Mr Berlyn.

Perth

Perth  had a clearance rate of 55 per cent with 26 properties selling at auction.

This was a better result to the same time last year where 28 properties sold for a clearance rate of 42.1 per cent.

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18 Raphael Street, Subiaco, WA sold on Openn Negotiation through agent Enzo Pagnozzi of Growth Realty. Photo: Growth Realty

Enzo Pagnozzi of Growth Realty has sold 18 Raphael Street, Subiaco for $787,000.

The property, which requires a renovation, was on the market for only 14 days and sold through the online sales platform, Openn Negotiation.

There were 6 qualified bidders and the property sold for $787,000 which was well above reserve price.

Canberra

The capital city recorded the highest clearance rate across the nation with a preliminary rate of 85.7 per cent.

There were 59 properties that went to auction.

Adelaide

Adelaide had the third highest preliminary clearance rate behind Canberra and Sydney of 70.6 per cent.

There were 78 properties that went to auction.

Brisbane

Brisbane had the lowest preliminary clearance rate of 54.7 per cent.

There were 74 properties that went to auction, half of the 140 properties the same time last year.

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