National auction clearance rates remain strong at more than 70% despite an increase in listings.
CoreLogic figures show the number of properties listed for auction increased during July and by a further 17% last week.
SQM Research managing director, Louis Christopher, the increase in listings has made it a more balanced market.
“It’s neither too hot nor too cold. There is some uncertainty, but also a little bit of confidence that perhaps the RBA has reached its peak . There are not overly aggressive prices occurring and there is not much distress selling, either,” Christopher says.
Once again Adelaide had the highest auction clearance rate last week of 82.5%, followed by Sydney, 72.4%, and Canberra, 70.6%.
Melbourne had a clearance rate of 69.9% and Brisbane, 58.3%.
CoreLogic figures show last week was the first time more than 2000 properties were offered for auction nationally since before Easter.
Melbourne had the highest number of auctions, 859, followed by Sydney, 814.
