Long weekend returns a slight rise in capital city clearance rate: CoreLogic RP Data's Shana Miller

Across the combined capital cities, the auction clearance rate rose slightly to 69.5 percent last week, from 68.8 percent the previous week.

The number of homes taken to auction, however, fell to just 533 across the capital city markets, with Sydney host to the majority of auctions last week (332).

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Preliminary results for Sydney show that 77.4 percent of reported auctions (230) were successful, the strongest clearance rate for the city since mid-February this year, however it is likely that this will revise down as further results are captured over the coming days.

In Melbourne, traditionally the country’s largest auction market, there were just 79 auctions held last week, with 54 results reported so far and a clearance rate of 74.1 percent.

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