Auction Clearance Rates – Week Ending 17th of July

Auction Clearance Rates – Week Ending 17th of July

Property prices continue to rise even though many of the capital cities continue business in lockdown. This week market prices continued to rise in our capital cities, up 0.3% in Melbourne and Sydney, which is slightly less than the previous week. In Brisbane the rise this week was strong at 0.5% and on the Sunshine Coast, strong prices and sale results continue being achieved.

Auction clearance rates following a similar trend with many states recording higher than average results. The number of properties taken to auction, with particular attention of Melbourne and Sydney, was down due to the continued lockdowns. In Melbourne, 122 properties were withdrawn from going to auction, and in Sydney 186 owners pulled their property from auction.

Auction Results State by State. (Auctions/Private Sales)

Queensland – 71% (132/1397)
NSW – 91% (548/1500)
Victoria – 90% (421/1786)
ACT – 92% (71/64)
South Australia – 91% (69/377)
Tasmania – 67% (3/168)
Western Australia – 83% (6/711)
Northern Territory – 100% (4/32)

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