The Australian auction market had its second busiest weekend this year, with 2,837 houses hammered through combined capitals, according to the latest CoreLogic report.
The auction volume over the weekend remained high, returning a preliminary liquidation rate of 74.5%. This came in the wake of the previous weekend's auction number of 3,206, the highest so far this year.
"The auction markets have been tested on higher volumes in recent weeks, with the highest number of auctions held so far this year," said Caitlin Fono, analyst at CoreLogic .
Melbourne was still the busiest capital, with 1,491 auctions. The city had an initial success rate of 75.3%. In the previous week, 1,533 auctions returned a final liquidation rate of 74.8%.
Sydney reigned in terms of success rate – of the 936 auctions, 78.1% were successful. During the previous weekend, the city had 1,221 auctions, with a final liquidation rate of 78.1%.
"Despite higher supply levels, clearance rates have remained above 70% in the larger markets, showing that the market is deep and sellers are staying in a strong position, "said Fono.
The table below shows the performance of each capital:
Main suburbs:
south cardiff
,
alexandra hills
,
newcastle
,
Homebush
,
mt gravatt
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