Captial City Auction Markets Record Highest Preliminary Clearance Rate This Year (23/10/16)

This week, CoreLogic are reporting the highest preliminary national clearance rate this year, reaching 80.2% over the combined capitals.

The number of homes taken to auction this week increased to 2,641, compared with 2,443 over the previous week. The preliminary clearance rate of 80.2 per cent is the highest recorded for the year so far, up from 76.2 per cent last week. Over the corresponding week last year, the clearance rate was significantly lower at 64.9 per cent however auction volumes were higher, 3,143 auctions were held. Every capital city except Perth has recorded a preliminary clearance that was higher than a year ago, while the two largest auction markets, Sydney and Melbourne, recorded a preliminary clearance rate higher than 80 per cent. Preliminary clearance rates in each state courtesy of CoreLogic (as at 9am EDST 23/10/2016):

• Sydney – 85.6% clearance, 866 total auctions, 722 results reported, 618 cleared, 104 uncleared
• Melbourne – 81.9% clearance, 1,378 total auctions, 1,229 results reported, 1,005 cleared, 224 uncleared
• Brisbane – 53.4% clearance, 192 total auctions, 118 results reported, 63 cleared, 55 uncleared
• Adelaide – 77.4% clearance, 98 total auctions, 62 results reported, 48 cleared, 14 uncleared
• Perth – 46.2% clearance, 33 total auctions, 13 results reported, 6 cleared, 7 uncleared
• Tasmania – 100% clearance, 10 total auctions, 4 results reported, 4 cleared, 0 uncleared
• Canberra – 74.4% clearance, 64 total auctions, 39 results reported, 29 cleared, 10 uncleared