|Clearances Rise As Boom Continues|
Capital cities recorded slightly higher clearance rates on higher volumes last weekend, building on the trend evident since Easter.
The combined capital cities had 2,448 auctions, which returned a preliminary clearance rate of 80.5%, according to CoreLogic’s Property Market Indicator. These results were higher than the previous week’s 2,199 auctions and preliminary clearance rate of 79.4%, which was revised down to 77% at final figures.
At the same time last year, only 30% of homes sold across 1,922 auctions, with confidence low as restrictions around onsite auctions and physical home inspections impeding activity.
Last weekend Canberra recorded the highest preliminary clearance rate at 87.4%, followed by Sydney with 84.8%, Adelaide 82.8%, Melbourne 78.1% and Brisbane 72.7%.
Melbourne saw the highest number of auctions over the week at 1,204, followed by Sydney with 913, Canberra with 112, Brisbane with 104, Adelaide with 81 and Perth with 30