According to CoreLogic, city capitals recorded high preliminary clearance rates for the week ending August 24th.
The auction houses selected in the capitals combined climbed to 1,412 for the week, yielding a preliminary clearance rate of 79.6%. During the same week of last year, 1,915 homes were auctioned, thus reporting a liquidation rate of 54.6%.
In Melbourne, 665 homes were auctioned for the week ending August 24, giving a preliminary clearance rate of 79.7%. It was the fifth week in a row that the city cleanup rate was over 70%.
In Sydney, 500 homes were auctioned for the week ending August 24, resulting in a preliminary cleanup rate of 84.7% – the highest preliminary cleanup rate recorded by the city since February 2017. A year ago, 721 auctions were held in the capital city, yielding only a clearance rate of 53.2%.
Meanwhile, Brisbane has seen a decline in auction volumes week after week. Adelaide, Canberra and Perth recorded an increasing number of auction houses during the week ending August 24th.
Source: CoreLogic
Top suburbs:
Tuart Hill
,
Harris Park
,
crossing of ropes
,
albion
,
Flemington
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