VIDEO – 4 of the 6 capitals report lower clearance rates

29 Mar VIDEO – 4 of the 6 capitals report lower clearance rates

Last week saw 1,667 homes taken to auction across the combined capital cities, returning a final auction clearance rate of 50.9 per cent, down from 51.4 per cent across a higher 1,875 auctions the previous week. Over the same week last year, 3,990 (pre-Easter) homes went to auction and a clearance rate of 62.7 per cent was recorded.

Melbourne’s final clearance rate was recorded at 55.1 per cent across 814 auctions last week, compared to 52.1 per cent across 920 auctions over the previous week.

Sydney’s final auction clearance rate came in at 52.1 per cent across 506 auctions last week, down from 54.2 per cent across 638 auctions over the previous week. Over the same week last year,

Across the remaining capital cities, Canberra returned the highest clearance rate of 48.3 per cent, followed by Adelaide where 46.3 per cent of homes sold at auction.

Of the non-capital city auction markets, the Geelong region was the best performing in terms of clearance rate, with 54.6 per cent of auctions successful.

The combined capital cities are expected to see a higher number of homes taken to auction this week with CoreLogic currently tracking 2,048 auctions, up from 1,667 last week and 670 over the same week last year (Easter).

Watch for Geoff White’s thoughts about the weekend ahead and the numbers around the country and then join him on Monday as he gives the most comprehensive national roundup of the full week’s activity.