29 Jul VIDEO – Market continues to improve
- 2 big auction capitals clear over 70%
- Auction numbers increase
- Adelaide tops smaller markets
There were 1,115 homes taken to auction across the combined capital cities this week, up from the 896 homes auctioned last week. The higher volumes saw the preliminary auction clearance rate rise to 71.2 per cent after last week’s 65.4 per cent final clearance rate.
The weighted average clearance rate has improved over each of the last four weeks, coming in above the mid-60 per cent range over the last two weeks and showing a vast improvement year-on-year when around 50-55 per cent of the homes taken to auction were reported as selling.
However, volumes remain lower each week compared to last year, over the same week one year ago 1,536 were taken to auction.
The two largest auction markets, Melbourne and Sydney, saw their preliminary clearance rates rise this week; both coming in at the mid-high 70 per cent mark, with both cities seeing an increase in volumes over the week.
Across the smaller auction markets, Adelaide was the best performing with a preliminary clearance rate of 56.7 per cent, while only 14.3 per cent of Perth homes sold at auction.
Get a full rundown of results in all the capitals including a breakdown between units and houses. Also a look inside the top sales in Sydney, Melbourne, Adelaide and Brisbane, Canberra and Perth. Kevin Brogan joins Kevin Turner to present the latest figures from Core Logic.