Both auction volumes and the preliminary auction clearance rate remain strong leading up to the Queen’s Birthday long weekend

There were 2,727 homes taken to auction this week, up from 2,599 over the previous week. The preliminary clearance rate was recorded at 78.9 per cent, down slightly from 79.1 per cent last week, making it the tenth week in a row where the combined capital city clearance rate has been above the 77 per cent mark. Although auction volumes were higher at the same time last year (3,072), the auction clearance rate was lower, at 66.4 per cent.20150531 Capital City

In Melbourne, Australia’s largest auction market, there were 1,221 auctions held across the city. Of the 1,053 results reported so far, the preliminary clearance rate is 78.3 per cent. In comparison, last week, Melbourne recorded a final clearance rate of 82.1 per cent across 1,162 auctions. One year ago, Melbourne’s clearance rate was recorded at 65.4 per cent across 1,356 auctions. Across Melbourne’s sub-regions, the Inner region had the highest number of auctions this week (296), with a preliminary clearance rate of 73.8 per cent, while the Outer East region of Melbourne had the strongest result, with 88.8 per cent of reported auctions selling.

20150531 Melbourne

Across Sydney, 1,120 homes were taken to auction this week with a preliminary clearance rate of 86.5 per cent across 882 reported results. Last week, 1,018 Sydney properties were taken to auction with a clearance rate of 86.2 per cent. At the same time last year, Sydney’s auction clearance rate was 73.0 per cent across 1,316 auctions. This week, across Sydney’s individual sub-regions, Baulkham Hills and Hawkesbury (94.7 per cent), City and Inner South (92.5 per cent), Inner West (92.3 per cent) and Sutherland (91.2 per cent) regions all recorded strong preliminary clearance rates.

20150531 Sydney

This week, Brisbane’s preliminary clearance rate was recorded at 52.1 per cent, up from 46.2 per cent last week and 42.5 per cent at the same time last year. There were 209 Brisbane auctions this week, compared to 159 last week and 219 last year. The Gold Coast’s preliminary clearance rate was 40.3 per cent across 62 results this week.

20150531 Brisbane

In Adelaide 92 auctions took place this week with a clearance rate of 72.1 per cent. In comparison, at the same time last year, 87 Adelaide homes were taken to auction and 55.3 per cent were reported as sold.

20150531 Adelaide

A total of 20 Perth homes were taken to auction over the week, with 10 results reported so far. Perth’s preliminary clearance rate of 50 per cent across these 10 results is similar to this time last year, when the clearance rate was 52.2 per cent.

In Canberra, 52 auctions were held over the week. 70.4 per cent of the reported auctions were successful.

Tasmania saw 13 auctions take place this week. Of the 11 results that have been reported so far, 4 have sold.

About Shana Miller

Shana joined CoreLogic RP Data in 2007, heading up CoreLogic RP Data’s 'agents advice' team which is responsible for collecting sales data directly from industry participants. Having gained a solid background in data collection, storage and reporting, Shana joined CoreLogic RP Data’s research team as an analyst in 2011. Shana's day to day activities include compiling CoreLogic RP Data’s regular analysis such as auction and private treaty metrics as well as reporting on housing markets at a local through to national level. Shana has now joined the CoreLogic RP Data commentating team to deliver weekly blog updates on housing market activity across the country.

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