Capital cities land on trend: RP Data's national auction wrap

A preliminary weighted average clearance rate of 68.5% was recorded this week across capital cities compared to 67.8% last week and 70.4% this time last year.

This result is consistent with the year's trend. The year to date clearance rate for capital cities was 68.3% before this week.

In Sydney a preliminary clearance rate of 75.5%  was recorded compared to 71.9% last week and 79.5% last year. Despite the clearance rate not being higher than a year ago the auction market has improved with more homes being sold.

In Melbourne there was a preliminary clearance rate of 68% recorded compared to 70% last week and 68.6% this time last year. Concerns the auction market was beginning to weaken have not been added to this week.

Next week will prove an interesting test, with a record of around 1800 auctions scheduled.

In Brisbane a preliminary clearance rate of 50.5% was recorded compared to 48.8% last week.

Adelaide recorded a clearance rate of 50%  compared to 55.8% last week.

In Canberra a clearance rate of 50% was recorded.

In Perth a clearance rate of 60% was recorded.