The preliminary clearance rate across the combined capital cities was 75.7% this week for a reported 1,494 auctions.
Weekly clearance rate, combined capital cities
[1]According to research house CoreLogic RP Data, “…clearance rates are still tracking higher than they were one year ago, when the final auction clearance rate over the week was 68.9% across 1,473 auctions”.
Capital city auction statistics (preliminary)
[2]Sydney
Market heavyweight Sydney appears to be losing a little steam, with this week’s preliminary clearance rate coming in at 78.8%. That’s the fourth week in a row where Sydney’s clearance rate has been under the 80% mark.
However, last year’s result of 76.7% shows that – despite the closing gap between this year’s and last year’s results – the clearance rate remains higher.
Sydney’s west displayed the strongest performance of all the sub-regions last week, with Blacktown’s clearance rate coming in at 94.4%.
According to Australian Property Monitors, of 426 properties sold on Saturday, the median sale price was $960,000.
Sydney’s Inner West had some exceptionally strong results, with this modern two level home with five bedrooms and three bathrooms on an 850sqm block going for $3.55 million dollars.
[3]Source: Domain
Melbourne
Melbourne’s preliminary clearance rate ticked higher this week at 78.6% from last week’s 75.7% and 69.0% last year.
According to CoreLogic RP Data, Melbourne’s Outer East was the best performer, with 93.8% of these auctions successful.
Australian Property Monitors said that of 410 properties sold on Saturday, the median sale price was $760,000.
This three-bedroom house in Balwyn North, on an 1115sqm block, went for $2.405 million.
[4]Source: Domain
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