Auction numbers fall but clearance rate up

March 12, 2018

The auction clearance rate rose across Australia's five major capital cities in the past week.

The auction clearance rate across Australia's five major capital cities rose in the past week, despite a fall in the number of auctions held due to a public holiday across several states and territories, while home prices remain unchanged.

Only 1,721 homes went under the hammer in the week to March 11, compared to 3,026 auctions in the previous week, but the auction clearance rate rose from 65.9 per cent to 67.3 per cent, property research group CoreLogic says.

Home values were largely flat for the week, but were down 0.2 per cent in the past month with Sydney showing the largest decline of 0.5 per cent.

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