Records broken in auction market: RP Data's weekend auction wrap

A preliminary weighted average clearance rate of 70.5% was recorded this week across capital cities compared to 68.6% last week and 71.8% this time last year.

This was a strong week for auctions nationally and results suggest that the remaining eight weeks should provide good outcomes for sellers and plenty of choice for buyers.

In Sydney a preliminary clearance rate of 78.1% was recorded compared to 72% last week and 79.7% last year. After two lackluster weeks the Sydney market has returned to trend.

In Melbourne there was a preliminary clearance rate of 70.6% recorded compared to 71.7% last week and 71.9% this time last year. Not only were there a record number of auctions, but a record number of homes sold at auction. The previous high of 1,163 from a year ago was surpassed.

In Brisbane a preliminary clearance rate of 50.6% was recorded compared to 46% last week.

Adelaide recorded a clearance rate of 55.6% compared to 53.3% last week.

In Canberra a clearance rate of 58.3% was recorded.

In Perth a clearance rate of 28.6% was recorded.