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Auction markets across capital cities remained stable over the weekend, with only a marginal dip in activity and clearance rates, according to the latest report from CoreLogic.
Capital cities hosted 2,845 auctions over the weekend, slightly lower than the 2,905 auctions over the previous weekend.
The overall preliminary clearance rate also declined from 79% to 78.2%.
"The final clearance rate has held at or above 77.0 per cent for all but one of the last 15 weeks, so it will be interesting to see how the clearance rate holds up," said Caitlin Fono, analyst at CoreLogic.
This recent weekend's performance was in stark contrast of the one last year, when all capital cities reported a slump in activity and sales due to the COVID-19 pandemic.
Melbourne hosted the most auctions over the weekend at 1,286, which returned a clearance rate of 77.6%.
Sydney was not far behind in terms of auction volume. The city hosted 1,111 auctions, of which 80% turned into a sale.
Across smaller auction markets, Canberra reported the strongest clearance rate at 86.5% while Adelaide registered the highest number of auctions at 158.
The table below shows the performance of each capital city:
Auction markets across capital cities remained steady over the weekend, latest CoreLogic report shows.
