Spring market off to a flyer: RP Data's national auction wrap

A preliminary weighted average clearance rate of 74.4% was recorded this week across capital cities compared to 72.9% last week and 74.9% this time last year.

Results across capital cities this week, especially Sydney, provide a clear indication that this will be good spring for sellers.

In Sydney a preliminary clearance rate of 82.4% was recorded compared to 79.9% last week. Clearances around 80% in Sydney indicate a high level of competition and confidence from buyers.

In Melbourne this spring is shaping as a better one than last year with more homes being listed and sold as both sellers and buyers are confident of a good outcome. There was a preliminary clearance rate of 75.1% recorded compared to 73.5% last week.

In Brisbane a preliminary clearance rate of 49.4% was recorded compared to 46.8% last week.

Adelaide recorded a clearance rate of 70.2% compared to 64.9% last week.

In Canberra a clearance rate of 55.6% was recorded and in Perth there was a clearance rate of 28.6%.