Auction results remain solid, with a preliminary clearance rate of 77.8% this week. That compared to last week’s result of 78.5% and 65.5% for the same weekend last year.
Auction volumes jumped impressively this week, with 2,018 almost doubling last week’s total of 1,201. Last week’s reduced volumes came off the back of the long weekend. At the same time last year, auction volumes were at a similar level at 2,108.
Weekly clearance rate, combined capital cities
The auction clearance rate on the weekend was 86.5% in Sydney from 796 auctions, and 78.0% in Melbourne from 918 auctions.
CoreLogic RP Data says that Sydney’s auction clearance rate has been at levels above 85% since the third week in April this year, and that across its individual sub-regions, 6 saw a preliminary clearance rate over 90%.
Melbourne’s best performing sub-region this week was the Outer East, with a clearance rate of 92.6%.
Capital city auction statistics (preliminary)
Capital city median time on market and average vendor discounting results
It’s not taking people too long to snap up properties in the nation’s hottest markets either, with the average time on market just 26 days for Sydney’s homes and 24 days for units. In Melbourne, time on market is slightly longer at 31 days for homes and 36 days for units.
And where were the most expensive properties sold? At the week ending 14 June 2015, the priciest abode was a five bedroom and five bathroom property located in Mosman NSW, for a sizable $6,000,000.
Source:Â CoreLogic RP Data
Next on the list was a four bedroom and four bathroom property in Camberwell Victoria for $5,400,000.
Source:Â CoreLogic RP Data
Interestingly, but not surprisingly, out of the 10 most expensive properties sold, half of the list was located in NSW, while the other half was located in Victoria.
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