Highest national clearance rate in six years: Robert Larocca

A preliminary weighted average clearance rate of 78.3% was recorded this week across capital cities compared to 74.5% last week and 70.8% this time last year.

This is the highest national clearance rate in six years, since 79.7% was recorded in September 2009 and provides a further indication of the improvement in demand since last year. There can be no doubt now that the interest rate cut has had a positive impact on the real estate market.

In Sydney a preliminary clearance rate of 85.1% was recorded compared to 84.2% last week and 79.8% last year. Sydney continues to have the strongest auction market nationally and is providing vendors with unprecedented results.

In Melbourne the preliminary clearance rate was 77.8%, compared to 75% last week and 67% this time last year. This is the highest clearance rate in a year and half and the market is now well ahead of this time a year ago.

In Brisbane a preliminary clearance rate of 57.1% was recorded compared to 37.2% last week and 54.5% last year.

In Adelaide a preliminary clearance rate of 72.9% compared to 60.7% last week.

In Canberra a clearance rate of 73.3% was recorded compared to 70.8% last week.

In Perth a clearance rate of 41.7% was recorded compared to 33.3% last week and 41.9% last year.