Combined capital city clearance rate remains above 70 percent: CoreLogic

Combined capital city clearance rate remains above 70 percent: CoreLogic
Combined capital city clearance rate remains above 70 percent: CoreLogic

The combined capital city clearance rate remains above 70 percent, despite auction volumes trending higher, according to CoreLogic’s latest weekly report.

The property advisory firm says that there were 2,950 auctions held across the combined capital cities, with week-on-week results showing an increase over the 2,897 reported capital city auctions last week.

With the number of auctions tracking at the highest level since March, there has been no indication that clearance rates are starting to ease as we approach summer.

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Combined capital city clearance rate remains above 70 percent: CoreLogic

However, when compared to last year, auction volumes continue to track lower with vendors still seemingly reluctant to place their properties on the market despite such strong selling conditions.

There were 3,166 auctions reported over the corresponding week last year, with a clearance rate of 59.5 percent, which is a substantially lower rate of clearance when compared to the higher rate that has remained consistent since July.

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Combined capital city clearance rate remains above 70 percent: CoreLogic

This week’s preliminary clearance rate remains over 70.0 percent (75.6 percent), decreasing slightly over last week’s final clearance rate of 75.8 percent.

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Combined capital city clearance rate remains above 70 percent: CoreLogic

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Auction Corelogic

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