Auction clearance rates were on the rise this week, with the weighted average for the seven capital cities at 66.3%, compared to 64.6% last week. Overall auction numbers were also boosted from 881 to 2,033. This significant pick up may be attributed to the two long weekends we’ve had in a row. At the same time last year, there were 1,749 properties taken to auction across the capital cities, and the clearance rate came in at 67.7%.
Weekly clearance rate combined capital cities
In Sydney, the clearance rate was 75.7% this week compared with last weeks 71.3%. At the same time last year, the clearance rate was recorded at 72.7%. Melbourne saw a clearance rate of 63.7%, compared to 63.0% last week, and 70.4% at the same time last year. Auction volumes in Melbourne jumped from 373 last week, to 878. Sydney experienced a similar increase in volumes, surging from 361 to 817.
Capital city auction statistics (preliminary)
Capital city home value changes were interesting to view this week, with Sydney’s values up 0.4%, while Melbourne’s were down at 0.3%. The combined five capitals home value rose by 0.2% this week.
Capital city home value changes
The median price of houses sold at private auctions across the combined capitals was slightly down this week at $573,676, compared with $585,099 last week.
Capital city private treaty median prices
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