National auction clearance rates sit at 75%: CoreLogic
The combined capital city auction clearance rate was recorded at 75.1% across 1,473 auctions last week, according to CoreLogic’s latest report.
The property data firm says this figure is based upon results collected for 87.8% of the capital city auctions held over the past week
Clearance rates increased on lower volumes last week with the clearance rate recorded at 74.6% the previous week from 2,907 auctions.
Although auction clearance rates fell last week, they remain much higher than they were at the same time last year when they were recorded at 64.9%.
Melbourne’s auction clearance rate rose from 78.4% the previous week to 79.6% last week while auction volumes also fell, down to 385 from 1,459.
In Sydney, clearance rates also increased from 76.0% to 77.8% while auction volumes fell from 950 the previous week to 803 last week.
Each region except for Canberra and Tasmania recorded higher auction clearance rates last week compared to the previous week.
The number of newly advertised and total residential properties listed for sale has remained fairly steady over the past week and is now higher than it was 12 months ago, while total stock for sale remains lower.
The 48,673 newly advertised properties nationally is 1.8% higher than a year ago and the 229,325 total properties advertised for sale across the country is 5.4% lower than a year ago.
At a combined capital city level there are 30,519 fresh properties advertised for sale, which is 4.3% higher than a year ago, and 105,034 total properties advertised for sale which is 1.3% lower than a year ago.
The number of newly advertised properties for sale is higher over the year in all capital cities except Adelaide (-5.5%), Perth (-7.8%) and Darwin (-17.1%).
The total number of properties advertised for sale is lower over the year across all capital cities except for Brisbane (-6.1%).