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RP Data National Auction Comment, week ending 17 August, 2014
A preliminary weighted average clearance rate of 68.4 per cent was recorded this week across capital cities compared to 68 per cent last week and 70.4 per cent this time last year.
The health of the national auction market this year is highlighted by the fact that since the start of the year, not including this week, there had been 42 per cent more homes sold under the hammer compared to this time last year. In raw numbers this is 36,608 homes sold at auction compared to 25,623 last year.
A significant contributor to the improved national result is Sydney and this continued this week. In Sydney a preliminary clearance rate of 76.7 per cent was recorded this week compared to 74.7 per cent last week.
Melbourne returned a result on trend this week with a preliminary clearance rate of 67.7 per cent recorded compared to 69.6 per cent last week.
In Brisbane a preliminary clearance rate of 50 per cent was recorded compared to 33.3 per cent last week.
Adelaide recorded a clearance rate of 69.2 per cent compared to 69.1 per cent last week
In Canberra a clearance rate of 55.2 per cent was recorded and in Perth there was a clearance rate of 27.3 per cent.
RP Data Housing Market Specialist
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