Clearance rate rises for combined capitals

Strong auction activity in Sydney, Melbourne and Adelaide has helped push the average clearance rate across the capital cities above the previous week’s result.

According to a CoreLogic RP Data update for the week ending 22 May, the preliminary clearance rate across the combined capital cities rose to 70.0 per cent, up from 69.5 per cent the previous week.

Sydney recorded the highest clearance rate of all the capitals at 74.2 per cent for a total of 700 auctions.

Melbourne was next best with a 70.7 per cent clearance rate for a total of 825 auctions, followed by Adelaide with a 70.1 per cent clearance rate for 92 auctions.

Canberra’s clearance rate was at 61.4 per cent for a total of 67 auctions, followed by Brisbane with 55.3 per cent for 128 auctions.

Perth posted a clearance rate of 54.5 per cent for a total of 42 auctions, while Tasmania’s clearance rate was 20.0 per cent for nine auctions.

[Related: Raine & Horne encourages more winter auctions]

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