The combined capitals preliminary clearance rates edged above the 70% mark last week, rising to 70.4% after dipping to 69.2% the week prior (revising lower to 64.0% on final numbers).

The subtle lift in the early clearance rate was attributable to the smaller auction markets with Adelaide (88.9%), Brisbane (73.1%), and Canberra (52.2%) each recording a higher clearance rate compared to the previous week, while the major auction markets of Sydney and Melbourne recorded some slippage in the early success rate.

Melbourne hosted the most auctions, with 844 homes going under the hammer, the highest volume since the week ending June 23rd when 920 auctions were held.

The preliminary clearance rate was 69.5% in Melbourne, down from 70.4% the week prior, which revised to 61.7% once finalised.

Sydney saw 632 homes go to auction, up from 612 the week prior. Sydney’s early clearance rate held below the 70% mark for the second week running, with an early success rate of 68.0%, down from 69.4% the week prior.

The number of auctions scheduled for this week is currently just over the 2,000 mark, rising to around 2,100 the week after, signaling a pick up in selling activity ahead of the spring selling season.

Full details including clearance rates and top sales of the week can be found in the attached Property Market Indicator.

Realated reading

Just under 2,100 homes set for auction across the combined capitals - CoreLogic

Resilient Clearance Rates Despite Higher Volumes - CoreLogic

Preliminary clearance rate falls to 67.3% across the combined capitals - CoreLogic

Auction volumes hold steady week-on-week across the combined capitals - Corelogic