Clearance rate lifts on the eve of spring: RP Data's national auction wrap

A preliminary weighted average clearance rate of 72.2% was recorded this week across capital cities compared to 69.5% last week and 71.5% this time last year. This is the highest recorded since early March this year.

Data from the last four weeks has shown that this the best lead into spring since 2010 with more homes being sold at auction and overall higher prices in most capital cities.

In Sydney the market is delivering results comparable to this time last year and looks set to have a strong spring. This week a preliminary clearance rate of 81.1% was recorded compared to 76.1% last week.

In Melbourne there was a preliminary clearance rate of 71% recorded compared to 70.7% last week. This has been the most vibrant auction market since the middle of February this year with three consecutive weeks over 70%.

In Brisbane a preliminary clearance rate of 47% was recorded compared to 51.2% last week.

Adelaide recorded a clearance rate of 66.1% compared to 67.2% last week.

In Canberra a clearance rate of 72.4% was recorded and in Perth there was a clearance rate of 46.2%.