The national auction clearance rate held above 70 per cent for the seventh straight week and average bidder numbers surged as the housing market appeared toDespite the number of homes taken to auction almost doubling to 1951 – the most in 11 weeks, according to CoreLogic – 72.5 per cent of homes were reported as sold based on preliminary data, almost unchanged from last week’s 72.4 per cent, when there were just 1040 homes taken to auction due to the King’s Birthday long weekend.
Appetite for inner city and North Shore homes remained particularly strong as a harbour front penthouse in Pyrmont sold for $8.25 million through James Crow of Morton Pyrmont. Melbourne was the busiest capital city auction market this week with 863 offered for sale, more than double the 315 homes taken to auction a week ago.
“Competition remained fierce across a number of auctions,” said Ray White Victoria chief auctioneer Jeremy Tyrell. Canberra recorded the highest preliminary clearance rate of 70. 3 per cent, up from 52.3 per cent a week ago.