🏡 This weekend’s capital city auctions saw a rise of 6.3%, with 1,518 homes auctioned across the cities. The increase was driven by Sydney and Melbourne, while smaller capitals remained flat. Compared to last year, auction activity is down 10.1%. The preliminary clearance rate for the combined capitals is 72.3%, lower than last week’s rate of 74.5%. Last year, only 53% of auctions were successful.
🔥 Melbourne rebounded with an 11.4% increase in auction activity, hosting 636 auctions with a clearance of 74.3%. Sydney had 600 homes go under the hammer. Both cities saw a slight decline in clearance rates compared to the previous week. Sydney recorded the highest preliminary clearance rate at 74.9%.
🌇 Adelaide and Brisbane also had 102 homes auctioned, with both cities experiencing their lowest clearance rates in four weeks. Adelaide had a rate of 71.4% and Brisbane had 59.8%.
