Auction clearance rates lower than last year

The latest figures from the group’s property market indicator summary revealed there were a total of 2,615 capital city auctions held in the week ending 13 September, resulting in a preliminary clearance rate of 72.1 per cent.

This result indicates that clearance rates are no longer tracking higher than they were one year ago, where the final auction clearance rate over the week was 72.3 per cent over 2,080 auctions.

According to the preliminary data, Sydney recorded 1,046 total auctions over the past week with a clearance rate of 75.1 per cent.

This was followed by Melbourne with 1,181 auctions and a clearance rate of 73.7 per cent, and Brisbane with 178 auctions and clearance rate of 54.9 per cent.

Adelaide recorded 88 auctions with a clearance rate of 62.0 per cent and Canberra recorded 79 auctions with a clearance rate of 63.6 per cent.

Perth recorded 35 auctions with a clearance rate of 61.5 per cent and Tasmania recorded eight auctions with a clearance rate of 63.6 per cent.

The final auction clearance rates will be published by CoreLogic RP Data on Thursday.

CoreLogic RP Data collects between 85 per cent and 90 per cent of auction results, on average, each week.