Volumes rise and demand increases across capital cities: RP Data's national auction market wrap

A preliminary auction clearance rate of 66.1% was recorded this week across capital cities compared to 66.6% last week and 67.1% this time last year.

Demand from buyers was clearly sufficient to ensure that the clearance rate was largely unaffected by the substantial 61% rise in homes on offer at auction compared to this time a year ago.

In the Sydney market demand strengthened with a preliminary clearance rate of 76.2% recorded compared to 69.9% last week. Buyers have welcomed the increased choice this week.

In Melbourne demand and supply continue to be well balanced with a preliminary clearance rate of 61.7% recorded compared to 68.8% last week.

In Brisbane a preliminary clearance rate of 49.5% was recorded compared to 46.5% last week. Adelaide recorded a clearance rate of 67.2% compared to 63.8% last week. In Canberra a clearance rate of 50.9% was recorded and in Perth there was a clearance rate of 45.2%. In Tasmania there was two sales from four results.