Auction clearance rates at record highs
This week 2,207 properties went to auction across Australian capital cities and the combined clearance rate was 77.7 per cent. These current auction clearance rates remain at levels much higher than the same time last year when only 65.4 per cent of homes taken to auction were sold. The auction clearance rate for Sydney remains at levels higher than the other capital cities at 83.9 per cent this week. There were 847 homes taken to auction in Sydney this week, which is an increase from the previous week of 816 and 785 at the same time last year. Across Sydney suburbs, the highest performance this week was recorded in the Ryde region, with 45 auctions and a clearance rate of 88.8 per cent. Following on from this, the Eastern Suburbs, City and Inner South, Baulkham Hills and Hawkesbury and Inner West regions all recorded a clearance rate of above 87.0 per cent.