Capital city auctions deliver healthy returns: RP Data's national auction wrap

A preliminary weighted average clearance rate of 70.8% was recorded this week across capital cities compared to 74.1% last week and 72% this time last year.

This week will have added to the already substantial growth in auction volumes this year across capital cities. Prior to this week there had been 61,056 auctions in capital cities,33.6% more than the 45,696 held over the same time last year.

In Sydney a preliminary clearance rate of 78.3% was recorded compared to 80.1% last week. Last week was only the fifth time in the past five years a clearance rate of over 80% was achieved and this week has returned a similar result.

In Melbourne there was a preliminary clearance rate of 70.5% recorded on the first week with over 1,000 auctions for the spring season compared to 76.6% last week. Higher volumes have translated into more sales, so far this year there have been five homes sold at auction for every four last year.

In Brisbane a preliminary clearance rate of 49.4% was recorded compared to 44.7% last week.

Adelaide recorded a clearance rate of 62.7% compared to 68.8% last week.

In Canberra a clearance rate of 52% was recorded and in Perth there was a clearance rate of 43.8%.