Auction clearance rates

The latest quarterly drop in auction results released by CoreLogic came as no surprise as the nation faced some of the greatest disruptions to usual business practices during this period.

The pre-Easter weekend saw a much lower expectation of properties sold at auction.

All eyes were on the MCG instead of auction gavels last week, resulting in a significant drop in volume for the combined capital cities.

There was another slight increase in auction volumes across the capital cities for the week ending September 15, as clearance rates remained strong.

Sydney has been the standout of the capital city auction markets in the first week of spring, recording a preliminary clearance rate of 83.1 per cent in the latest results from CoreLogic.

The seasonal impact of Spring may already be starting to show in the national auction market, with the latest results from CoreLogic indicating a rise in volume for the combined capital cities in the week finishing September 1.

Buyers continue to be out in force during the final weeks of winter, with the latest preliminary results from CoreLogic indicating the capital city clearance rate for the week ending August 25 could surpass the previous week's mark.

The final weekly clearance rate for the combined capital cities is expected to hold above 70 per cent for the first time in more than two years, according to the latest data.