- Clearance rate dips
- Demand for houses slows
There were 2,041 capital city homes taken to auction this week and of the 1,642 results collected so far, a 78.5% preliminary auction clearance rate was recorded.
In Melbourne, auction volumes fell with 925 properties going under the hammer last week. Of the 770 results collected so far, 76.1% were successful results. Sydney recorded a preliminary auction clearance rate of 82.1% this week from the 632 reported results from a total of 777 auctions.
Canberra was once again the stand out capital city auction market, recording a preliminary auction clearance rate of 97.7% this week. Brisbane recorded the second highest preliminary figure of the smaller capital cities at 76.2%.
Looking at results by property type, houses have outperformed units throughout the year, recording final clearance rates above 80% for consecutive weeks. This is the first week where the preliminary figure for houses has dipped below 80% with 79.6% of houses recording a sold result compared to the 74.7% units that have sold this week.
Watch the most comprehensive and up to date report on auction activity around Australia – powered by CoreLogic – with Eliza Owen exclusively on Realty Media’s Real Estate Talk. See all our shows at Realty.com.au