Auction results significantly up from last year

According to RP Data’s Weekend Market Summary, the combined capital city auction clearance rate was recorded at 67.5 per cent, slightly weaker than the final auction clearance rate of 67.7 per cent the previous week.

Auction volumes were also lower, down from 1,749 last week to 1,545 this week.

Across Melbourne, the clearance rate increased from 70.4 per cent the previous week to 72.3 per cent this week, with 784 auctions held in the city.

In Sydney, clearance rates remained strong, however, they dropped slightly from 72.7 per cent the previous week to 71.0 per cent this week. There were 506 auctions held across the city.

Brisbane’s performance slipped a little, with the clearance rate dropping from 43.6 to 43.1 per cent, and auction numbers were down by a little over 20 per cent.

However, at the same time last year, national auction clearance rates were recorded at a significantly lower 54.1 per cent.