Australian auction clearance rates are edging higher, especially in Melbourne

Photo: Patrick Riviere/Getty Images.

Australian auction clearance rates edged higher last week, although they still remain well below the levels seen earlier this year.

According to final figures released by CoreLogic today, 69.4% of properties that went under the hammer sold, up from 68.4% in the previous week.

It was the sixth consecutive week that the national clearance rate held below 70%.

This table from CoreLogic has all the details from each individual capital city market.

Source: CoreLogic

Melbourne, home to the fastest price growth of any capital at present, topped the list at 74.9%, edging out Canberra, Sydney and Adelaide for top spot where more than 69% of properties sold.

Turning to the week ahead, CoreLogic says that auction volumes look to set to decline to 1,581 properties on offer, down from 1,627 last week.

Melbourne remains the busiest market with 757 properties going under the hammer.

“Victoria has all the busiest suburbs for auctions this week with 16 properties scheduled to go under the hammer in Craigieburn, followed closely by Glen Waverley (15), Werribee (13) and Epping and Mount Waverley with 12 auctions each,” CoreLogic said.

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