- Melbourne sees a glimmer of hope
- Sydney powers on
A key indicator pointing toward increased seller confidence is a fall in the number of auctions withdrawn from the market prior to auction day.
In Melbourne, 343 homes were taken to auction this week. Of the 254 results collected so far, just 16.1 percent were withdrawn, pushing the preliminary auction clearance rate up to 77.2 percent, the highest preliminary clearance rate the city has seen since the week ending 23rd May. Of the 196 sold results, 37.8 percent were sold prior to the scheduled auction date.
There were 841 auctions held in Sydney this week. Of the 747 results collected so far, 84.3 percent were successful, the highest preliminary clearance rate Sydney has seen since the week ending 18th April.
Across the smaller auction markets, Adelaide was the best performer this week with a preliminary auction clearance rate of 87.7 percent, followed by Canberra (85.9 percent) and Brisbane (79.7 percent).
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 Realty Talk. See all our shows at Realty.com.au