- Syd and Melb demand weakens
- Smaller caps remain strong
With 3,725 homes taken to auction this week, the combined capital cities experienced their busiest week since late March and their fifth busiest week since CoreLogic records commenced in 2008 with volumes up 5.3% compared to last week. Continuing the downwards trend seen since the recent peak in early October, the combined capital’s preliminary clearance rate slipped further this week, with 74.5% of the 2,989 results collected so far selling before at or after the auction.
With 1,360 results collected so far, Melbourne’s preliminary clearance rate fell to 72.7%. Sydney’s withdrawal rate increased this week, recording its highest withdrawal rate since late-July, (16.6%). Across the smaller capitals, the preliminary clearance rate rose despite a record number of auctions held in Canberra and Adelaide.
Watch the most comprehensive and up-to-date report on auction activity around Australia with CoreLogic’s Eliza Owen, exclusively on Realty Talk. See all our shows at Realty.com.au