Inner west, Blacktown, Ryde top Sydney's strongest auction regions: CoreLogic RP Data

Inner west, Blacktown, Ryde top Sydney's strongest auction regions: CoreLogic RP Data
Inner west, Blacktown, Ryde top Sydney's strongest auction regions: CoreLogic RP Data

The preliminary weighted national auction clearance rate sits at 77 per cent this week, having increased from a recent low of 74.9 per cent the previous week.

CoreLogic RP Data noted there have been 1,414 auction results reported until Saturday evening from a total of 1,766 auctions held across the capital cities.

Last week there were 1,704 capital city auctions, while one year ago there were 1,515 with a clearance rate of 69.3 per cent.

Melbourne’s preliminary auction clearance rate was 74.9 per cent this week, the lowest it has been since mid-February.

The clearance rate this week is down from 77.4 per cent last week, but higher than at the same time last year when the clearance rate was 68.4 per cent. This week there were 729 Melbourne auctions, compared to 655 last week and 674 last year. The strongest performing Melbourne sub-region, based on preliminary results, was the North East region, where 80 results have been reported with a clearance rate of 82.5 per cent.

The preliminary auction clearance rate for Sydney was 82.6 per cent this week, up from 78.8 per cent last week, which was the second lowest clearance rate in the city for 2015. This week the number of homes taken to auction across Sydney remained relatively steady, with 768 auctions compared to 791 last week. At the same time last year, Sydney’s auction market was beginning to gain some momentum, with a clearance rate of 75.2 per cent across 588 auctions. Across Sydney, Inner West (92.7 per cent), Blacktown (90.9 per cent) and Ryde (90.9 per cent) were the strongest performing sub-regions this week.

For Brisbane, the auction clearance rate this week increased from 52.5 per cent last week to 65.4 per cent. This week’s result is also stronger than at the same time last year, when 56.9 per cent of auctions were successful. Meanwhile, across the Gold Coast, 24 results have been reported so far, with a clearance rate of 45.8 per cent.

Across Adelaide, 77 homes were taken to auction this week and of the 49 results, 69.4 per cent were sold. Adelaide’s clearance rate was lower over the previous week (66.1 per cent) and at the same time last year (69.0 per cent).

22.2 per cent of Perth’s reported auctions were sold this week, compared to 33.3 per cent last week and 38.5 per cent the previous week. This week 21 auctions were held across Perth, compared to 26 last week, and just 16 one year ago.

There were 44 Canberra homes taken to auction this week and of the 22 reported results, 86.4 per cent were sold.

Across Tasmania, 6 results were reported to CoreLogic RP Data, with 4 of these properties reported as sold.

 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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