National auction clearance rate at lowest in 11 weeks: CoreLogic
Capital city auction clearance rates were at their lowest level last week in 11 weeks, according to CoreLogic’s latest report.
The property data firm says that last week’s auction clearance rate was recorded at 69.8 percent from 1,751 auctions compared to a clearance rate of 73.9 percent from 493 auctions over the week of Easter.
CoreLogic collected results for 88.7 percent of all auctions held.
In Melbourne there were 828 auctions last week with a clearance rate of 75.2 percent.
Volumes were higher than the 102 the previous week while clearance rates were much lower than the 81.3 percent the previous week.
Last week’s auction clearance rate for Melbourne was the lowest so far this year.
Sydney’s auction clearance rate last week was 72.4% from 519 auctions compared to 77% from 279 auctions over the previous week.
Sydney’s auction clearance rate last week was the second lowest of this year.
Brisbane and Tasmania were the only regions that recorded higher clearance rates over the last week.
Over the 28 days to April 23 there were 42,128 newly advertised properties for sale nationally and 231,167 total properties for sale.
The number of newly advertised properties for sale rose over the past week while total stock was lower.
Compared to volumes a year ago, newly advertised housing stock is 0.3% higher while total advertised stock is -3.2% lower.
Across the combined capital cities there were 25,171 newly advertised properties for sale which were higher over the week and -4.1 percent lower than a year ago.
The only capital cities in which the number of newly advertised properties is higher over the year were: Sydney, Hobart and Canberra.
Over the past 28 days there were 105,364 total properties advertised for sale across the combined capital cities which was lower over the week and unchanged over the year.
Melbourne, Hobart and Darwin were the only capital cities to have fewer total properties advertised for sale compared to a year ago.