This article is from the Australian Property Journal archive
OVER the weekend, preliminary capital city clearance rates and auction volumes picked up in anticipation of the nearing Spring selling period.
According to CoreLogic’s preliminary figures for the week ending 18 August 2024, the clearance rate rose marginally to 70.7%, with last week’s 70.4% revised down to 63.5% on final count.
In total there were 1,995 auctions held over the last week, the greatest volume since the last week of June where there was 2,030 auctions and 5.5% on the previous week.
In Sydney the preliminary rate bumped up from 68.0% to 74.6%, with last week’s rate revised down to 61.2%.
The city held 738 auctions over the week, up from last week’s 632, with 419 cleared auctions.
In Melbourne the preliminary rate fell to 67.4% from last week’s 69.5% and holding below the 70% for four out of the last five weeks.
Melbourne held the greatest volume of auctions, with 837 homes going under the hammer and 419 cleared.
Adelaide returned the strongest preliminary clearance rate at 83.7%, with 151 auctions taking place and 77 cleared.
While Brisbane recorded the most auctions out of the smaller capitals, with 165 homes going under the hammer with 76 cleared and a preliminary clearance rate of 62.8%.
Canberra’s rate came in at 66.1%, with 88 auctions held and 41 cleared.
While Perth recorded 15 auctions over the week for a clearance rate of 54.5% and Tasmania held just one.
| Auction highlights this week Saturday, 24 February 2024 | ||
| State | Location | Value Sold |
| Most expensive | ||
| NSW | 3803/96-118 Gloucester St, The Rocks, 3br House, Ray White | $9,000,000 |
| VIC | 20 Sunnyside Ave, Camberwell, 5br House, Noel Jones | $4,900,000 |
| SA | 25 Brigalow Ave, Kensington Gardens, 3br House, Bespoke Agents | $2,430,000 |
| QLD | 14 Mooloolah Is, Minyama, 5br House, Next Property | $8,250,000 |
| ACT | 6 Glossop Cr, Campbell, 4br House, Blackshaw Manuka | $2,135,000 |
