Conditions for buyers at auction improving: National weekend auction wrap

A preliminary weighted average clearance rate of 66.6% was recorded this week across capital cities compared to 65.7% last week and 66.9% this time last year.

Conditions for buyers at auction are improving as we get closer to Christmas with volumes remaining at historical highs and demand easing, particularly in Melbourne.

In Sydney auction volumes are very high and the number of active buyers seem to be rising in line with supply. A preliminary clearance rate of 75.2% recorded compared to 71.8% last week and 72.7% last year.

In Melbourne a preliminary clearance rate of 63.7% was recorded compared to 66.1% last week and 67.9% this time last year. The state election has had no impact on results that are on trend with the mild easing in demand seen over November.

In Brisbane a preliminary clearance rate of 45.9% was recorded compared to 43.3% last week.

Adelaide recorded an above trend clearance rate of 66.7% compared to 61.2% last week.

In Canberra a clearance rate of 63.3% was recorded.

In Perth a clearance rate of 21.7% was recorded.

In Tasmania 8 auction sales were recorded and no homes were passed in.