This week’s CoreLogic Property Market update

Auction volumes surge past 3,000 for the first time this year returning a strong preliminary auction clearance rate of 70.5 per cent

Auction volumes returned to higher levels this week across the combined capital cities with a total of 3,275 homes taken to auction; the higher volumes returned a strong preliminary auction clearance rate of 70.5 per cent. 

Last week 1,992 auctions were held across the capitals with 66.1 per cent clearing, while over the same week one year ago a 78.4 per cent clearance rate was recorded across a higher volume of auctions (3,301).

Results segregated into property type showed that units outperformed the house market this week, with 72.9 per cent of units selling at auction, while 69.5 per cent of houses sold across the combined capitals.

Source: CoreLogic