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Strong auction results in four capital cities last week helped lift the average clearance rate above the previous week’s result.
According to a CoreLogic update for the week ending 10 July, the preliminary clearance rate across the combined capital cities rose to 72.0 per cent from 67.0 per cent one week prior.
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Sydney recorded the highest clearance rate of all the capitals, at 79.0 per cent for a total of 404 auctions.
Canberra was next best, with a 76.0 per cent clearance rate for a total of 50 auctions, followed closely by Adelaide with a 72.3 per cent clearance rate for 47 auctions.
Melbourne’s clearance rate was at 71.9 per cent for a total of 512 auctions, while Perth posted a 55.6 per cent clearance rate for nine auctions, and Hobart’s was at 50.0 per cent for four auctions.
Brisbane was the only capital that failed to clear half or more of the properties on auction last week, with a 44.0 per cent clearance rate for 84 auctions.
[Related: Sydney helps lift national property prices]
