Sydney and Melbourne continue dual as auction activity remains steady

Sydney and Melbourne continue dual as auction activity remains steady
Sydney and Melbourne continue dual as auction activity remains steady

Tasmania topped the nation's highest clearance rate, but Sydney returned to hold the mantle of the best performing mainland auction market.

Melbourne slipped below Sydney.

Tasmania did only see the five auctions, in comparison to the 551 in Sydney and 905 in Melbourne.

Last week Sydney out-cleared Melbourne by just 0.6 percent, but the margin this weekend was closer to three percent

Click here to enlarge.

Sydney and Melbourne continue dual as auction activity remains steady

Both were well down on their clearance rates from last year. 

With similar stock numbers from this time last year, Sydney were six percent off what they cleared, while Melbourne were well over 10 percent down.

Click here to enlarge.

Sydney and Melbourne continue dual as auction activity remains steady

Melbourne's recent clearance rates have been tracking lower than they were in mid 2016, with results only marginally different than they were three years ago after the spike in recent years. 

Click here to enlarge.

Sydney and Melbourne continue dual as auction activity remains steady

 

Auction activity remained relatively steady across the combined capital cities this week, with a total of 1,746 homes taken to market, returning a success rate of 63.1 percent.

That was up from last week’s final clearance rate which saw the lowest weighted average result so far this year at 61.7 per cent (1,915 auctions).

 

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

Tags: 
Clearance Rate Corelogic

Comments

Be the first one to comment on this article
What would you like to say about this project?