Buyers drive up national clearance rate in week of low volumes: RP Data's national auction wrap

A preliminary weighted average clearance rate of 69.4% was recorded this week across capital cities compared to 66.6% last week and 65.1% this time last year.

Prior to this weekend the national year to date clearance rate was 67.3%. This is very healthy compared to the 63.2% recorded last year and in 2012 when less than half of all auctions resulted in sales when the clearance rates was 49.1%.

This week a preliminary clearance rate of 74.6% was recorded in Sydney, a significant rise on the 71.1% last week.

In Melbourne there was a preliminary clearance rate of 68.4% recorded compared to 68.3% last week. The Melbourne market has been delivering very consistent results for sellers in the past four weeks.

In Brisbane a preliminary clearance rate of 59.3% was recorded compared to 42.2% last week.

Adelaide recorded a clearance rate of 75.6% compared to 62.7% last week.

In Canberra a clearance rate of 48.4% was recorded and in Perth there was a clearance rate of 52.6%.

In Tasmania two auctions resulted in sales from the six held.