Auction clearance rates in Australia’s smaller capital cities still remain strong.
CoreLogic auction clearance rates show that 3,725 homes were taken to auction last week, the busiest week for auctions since March. The number of properties being offered under the hammer was up 5.3% on the previous week and more than double the same time last year.
The combined capital city preliminary clearance rate last week was 74.5%, down from 75.5% the previous week.
Across the smaller capital cities, auction clearance rates increased with record numbers of properties taken to auction in Canberra and Adelaide. Canberra had an auction clearance rate last week of 86% while Brisbane was 83%.
Adelaide recorded a preliminary clearance rate of 80%, while in Perth five of the twelve results recorded sold under the hammer. In Melbourne 1,644 homes were taken to auction with a preliminary clearance rate of 73%. There were 1,369 properties taken to auction in Sydney with a clearance rate of 75%.