Sydney auction market has delivered very good outcomes for sellers this year: National auction wrap

A preliminary weighted average clearance rate of 65.2% was recorded this week across capital cities compared to 63.7% last week and 65.1% this time last year.

The market may have cooled since the start of spring but that won’t prevent the overall clearance rate for 2014 exceeding last year. In 2013 the capital cities clearance rate was 66.2% and with one week to go this year it is 67.9%. With the exception of Melbourne and Perth the clearance rate has risen in each capital city. More people have sold more homes at auction this year.

In Sydney a preliminary clearance rate of 71.2% recorded compared to 66.1% last week and 72.2% last year. The Sydney auction market has delivered very good outcomes for sellers this year with a higher clearance rate and number of sales. The clearance rate for 2014 is likely to be close to 74.4%, higher than 72.7% last year.

In Melbourne a preliminary clearance rate of 65.9% was recorded compared to 66% last week and 64.9% this time last year. The clearance rate for 2014 is likely to be marginally lower, around 68.5%, than 2013 when it was 69.2%.

In Brisbane a preliminary clearance rate of 47.3% was recorded compared to 39.7% last week. The overall clearance rate in Brisbane for 2014 is likely to be 45.8%, higher than 41.5% last year.

In Adelaide a preliminary clearance rate of 57.5% compared to 56.6% last week. The overall clearance rate for 2014 is likely to be 61.9%, higher than 56.5% last year.

In Canberra a clearance rate of 59.5% was recorded. The overall clearance rate for 2014 is likely to be 55.9%, higher than 52.3% last year.

In Perth a clearance rate of 33.3% was recorded. The overall clearance rate for 2014 is likely to be 41.1%, lower than 46.5% last year.