Preliminary clearance rates remain above 70% for the 9th consecutive week (W/E 25/9/16)

It has been another strong week for auction activity, there were 2,445 auctions held across the combined capital cities with a preliminary auction clearance rate of 78.3 per cent this week.

Last week, the final auction clearance rate was recorded at 76.2 per cent with 2,149 residential properties taken to auction. At the same time last year, auction volumes were higher (2,835) with a clearance rate of 69.7 per cent. Over the first four weeks of Spring, auction clearance rates have consistently been recorded at a higher rate than over the corresponding weeks last year, while auction volumes remain around 20 per cent lower.

Preliminary clearance rates in each state:

• Sydney – 84.4% clearance, 930 total auctions, 770 results reported, 650 cleared, 120 uncleared
• Melbourne – 79.1% clearance, 1090 total auctions, 946 results reported, 748 cleared, 198 uncleared
• Brisbane – 51.5% clearance, 144 total auctions, 103 results reported, 53 cleared, 50 uncleared
• Adelaide – 83.9% clearance, 126 total auctions, 87 results reported, 73 cleared, 14 uncleared
• Perth – 35.1% clearance, 49 total auctions, 37 results reported, 13 cleared, 24 uncleared
• Tasmania – 40% clearance, 16 total auctions, 10 results reported, 4 cleared, 6 uncleared
• Canberra – 69.9% clearance, 90 total auctions, 73 results reported, 51 cleared, 22 uncleared