National clearance rate of 70% recorded for the weekend: Robert Larocca
A preliminary weighted average clearance rate of 70% was recorded this week across capital cities compared to 67.3% last week and 70.2% this time last year.
The market performed to recent trend this week and results between now and the Labour Day long weekend should provide a clearer indication as to the state of the auction market this year.
In Sydney a preliminary clearance rate of 77.9% recorded compared to 80.6% last week and 80.2% last year. The Sydney auction market has not shown any sign of weakness following the stand out year in 2014.
In Melbourne the auction market improved following the lowest clearance rate in 26 months last week. The preliminary clearance rate was 67.4%, compared to 60.7% last week and 69.2% this time last year.
In Brisbane a preliminary clearance rate of 50.6% was recorded compared to 47.6% last week.
In Adelaide a preliminary clearance rate of 72% compared to 58.2% last week.
In Canberra a clearance rate of 72.2% was recorded compared to 67.9% last week.
In Perth a clearance rate of 33.3% was recorded.