All data to week ending 22 May 2016
Strong clearance rates in the Sydney and Melbourne auction markets push the capital city average clearance rate to 70% The preliminary clearance rate across the combined capital cities rose this week, up from 69.5 per cent the previous week to 70.0 per cent. The level of activity across the capital city auction market was similar to the previous week, with 1,863 auctions held this week, compared to 1,876 last week. Auction activity remains well below the comparable week last year, however, when 2,599 capital city auctions were held and 79.1 per cent cleared. After ANZAC weekend last year, there were five consecutive weeks of more than 2,200 auctions held across the combined capitals; however the same activity hasn’t been replicated this year.