A quiet week for auctions with 803 homes taken to market across the combined capital cities impacted by the long weekend. The subdued activity returned a preliminary auction clearance rate of 51.3 per cent, falling from last week’s final auction clearance rate of 58 per cent.
The lower weighted average this week can partly be attributed to weaker results across the smaller capital cities with all returning preliminary clearance rates below 50 per cent, while Melbourne and Sydney preliminary clearance rates came in at 64.7 per cent and 62.8 per cent respectively.
As more auction results flow through, we could see the final clearance rate drifting below the 60 per cent mark across the two largest auction markets.
Across the smaller auction markets, Adelaide returned the strongest preliminary clearance rate with 42.9 per cent of homes selling, while only 22.9 per cent of homes sold across Brisbane.
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.