Preliminary auction clearance rates

Last week was a bumper week for auctions across Australia with a preliminary 3,476 auctions, of which CoreLogic RP Data has captured 2,557 results so far. The national auction clearance rate was 77.5% with Sydney (84.6%) and Melbourne (78.5%) recording higher clearance rates. It is now the 8th consecutive week since the RBA cut official interest rates to 2.25% at the beginning of February that Sydney auction clearance rates have been above 80%.