Home auctions buoyant across Australia

Lilly Vitorovich
(Australian Associated Press)

Home auctions were buoyant across every Australian capital city last week, with particularly strong sales activity in Sydney.

The national clearance rate across the capital cities was 76.2 per cent in the week ended March 19, up from 75.1 per cent a week earlier and 68.8 per cent a year ago, according to the latest data from CoreLogic.

Some 2,844 auctions were held around the capitals in the week, up 93 per cent from 1,473 a week earlier when a public holiday in Victoria, South Australia, Western Australia and the Australian Capital Territory suppressed activity.

While volumes were up for the week, they remain below where they were in the same week a year ago, when 3,540 properties were taken to market.

The highest preliminary clearance rate was in Sydney, where 83.9 per cent of auctions over the week resulted in sales, followed by Canberra at 76.6 per cent.

Auction clearance rates rose to 75.9 per cent in Melbourne, 66.7 per cent in Tasmania, 64.7 per cent in Adelaide and 60 per cent in Perth.

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