Strong clearance rate and record highs for volume in three capital cities: Larocca's national auction wrap

Strong clearance rate and record highs for volume in three capital cities: Larocca's national auction wrap
Robert LaroccaDecember 17, 2020

A desire by vendors to sell before Easter and the strong market this year has resulted in record volumes for the year in Sydney, Adelaide and Perth.

The high volumes have not overwhelmed demand which is responding to the interest rate cut two months ago.

A preliminary weighted average clearance rate of 77.5% was recorded this week across capital cities compared to 75.9% last week and 67.7% this time last year.

In Sydney a preliminary clearance rate of 84.6% was recorded compared to 84.8% last week and 75.9% last year. Buyers responded very well to the high volumes this week and kept the market in boom territory.

In Melbourne a preliminary clearance rate was 78.5% was recorded, compared to 77.1% last week and 66.9% this time last year.

In Brisbane a preliminary clearance rate of 45.6% was recorded compared to 41.5% last week and 47.1% last year.

In Adelaide a preliminary clearance rate of 69.1% was recorded compared to 64.6% last week.

In Canberra a clearance rate of 58.1% was recorded compared to 62.1% last week.

In Perth a clearance rate of 57.7% was recorded compared to 23.1% last week and 41.7% last year.

Robert Larocca

Robert Larocca is Victorian housing market specialist for CoreLogic RP Data.

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