Successful auctions are rising nationally, with every capital city recording a clearance rate above 80% last week.
Over 2,700 homes were taken to auction, the busiest week since mid-July. CoreLogic says 83.3% were successful, marking the third consecutive week with a preliminary clearance rate in the 80s. The previous week, the preliminary clearance rate was 84.4%, revised to 83.2% at final collection, while this time last year 66.4% of auctions were successful.
Melbourne had the busiest week with 1,357 homes taken to auction, up 69% from the week prior. Of the 1,114 auctions results reported to date, 82% were successful.
Across Sydney, 832 homes were taken to auction, with 83.2% reported as successful, continuing Sydney’s seven-week streak of 80%+ clearance rates.
Canberra reported the highest preliminary clearance rate with 94% of auctions returning a successful result — the highest since late-July. This was followed by Adelaide (90%) and Brisbane (81%).