Sydney leads as national clearance rate dips: RP Data's national auction wrap

Sydney leads as national clearance rate dips: RP Data's national auction wrap
Sydney leads as national clearance rate dips: RP Data's national auction wrap

A preliminary weighted average clearance rate of 65.9% was recorded this week across capital cities compared to 68.9% last week, and 70.1% this time last year. 

The lower clearance rate was a result of a softening in the Melbourne market. This contrasted with the very buoyant outcome in Sydney and Adelaide.

RP Data National Auction Comment

Sydney continues to be the capital city with the strongest and most consistent auction market. A preliminary clearance rate of 75.5% was recorded this week compared to 76.7% last week.

RP Data National Auction Comment - Sydney

The lowest result in nine weeks occurred in Melbourne where a preliminary clearance rate of 63.9% recorded compared to 69% last week.

Auction numbers have risen in the inner east after a seasonal lull. Rising stock numbers in the next month will clearly test the market.

RP Data National Auction Comment - Melbourne

In Brisbane a preliminary clearance rate of 35.3% was recorded compared to 36.7% last week.

RP Data National Auction Comment - Brisbane

Adelaide recorded a very strong clearance rate of 75% compared to 61% last week.

Low stock numbers at this time of the year can affect the clearance rate by making in more variable than in spring and summer.

In Canberra a clearance rate of 45.8% was recorded and in Perth there was a clearance rate of 66.7%.

RP Data National Auction Comment - Adelaide

Robert Larocca

Robert Larocca

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

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