National clearance rate stable: RP Data's national weekend auction wrap

A preliminary weighted average clearance rate of 68.4% was recorded this week across capital cities compared to 68% last week and 70.4% this time last year.

The health of the national auction market this year is highlighted by the fact that since the start of the year, not including this week, there had been 42% more homes sold under the hammer compared to this time last year. In raw numbers this is 36,608 homes sold at auction compared to 25,623 last year.

A significant contributor to the improved national result is Sydney and this continued this week. In Sydney a preliminary clearance rate of 76.7% was recorded this week compared to 74.7% last week.

Melbourne returned a result on trend this week with a preliminary clearance rate of 67.7% recorded compared to 69.6% last week.

In Brisbane a preliminary clearance rate of 50% was recorded compared to 33.3% last week.

Adelaide recorded a clearance rate of 69.2% compared to 69.1% last week.

In Canberra a clearance rate of 55.2% was recorded and in Perth there was a clearance rate of 27.3%.