Auction clearance rates and activity increase slightly – WE180916

This week’s (week ending 18 September, 2016) preliminary auction clearance rate saw the combined capital city clearance rate rose this week, from 75.4 per cent last week to 77.9 per cent. At the same time last year, the clearance rate was 69.9 percent.

So far this week according to auction results having been reported to CoreLogic, there were 2,093 capital city auctions held over the week, similar to the 2,062 last week, but lower than one year ago, when, despite lower clearance rates, the spring market was in full force, with over 2,500 auctions held across the combined capitals.

• The number of homes taken to auction was up slightly to 2,093 compared to the 2,063 auctions held last week and ,2565 one year ago.
• The preliminary clearance rate of 77.9% is higher than the previous week’s result of 75.4 and up from last year, when the clearance rate was recorded at 69.9 per cent.

Preliminary clearance rates in each state:

• Melbourne – 956 auctions, clearance rate down slightly to 78.0% (LW 974 auctions 78.3% clearance | LY 1,127 auctions 73.7% clearance)
• Sydney – 773 auctions, clearance rate up 85.1% (LW 758 auctions 80.6% clearance | LY 1,041 auctions 70.7% clearance)
• Brisbane – 139 auctions with an increased clearance rate of 55.1% (LW 148 auctions 44.3% clearance | LY 143 auctions ~50% clearance)
• Adelaide – 96 auctions also with an increased clearance rate of 76.5% (LW 88 auctions 68% clearance | LY 99 auctions 71.4% clearance)
• Perth – 20 auctions  with a clearance rate of 40% (LW 38.5% clearance)
• Canberra – 83 results captured, 70.8% clearance (LW 61 auctions 75.9% clearance | LY 58.8% clearance)
• Tasmania – 7 auctions, 2 sales so far reported.