Auction clearance rates in Australia's capital cities creep up: CoreLogic

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The analysis company's preliminary figures for Sydney indicated 69.9 per cent of homes under the hammer in the city sold - although with only 505 of the 697 auctions counted, 28 per cent of results were still missing.CoreLogic recorded a 62.9 per cent clearance rate in Melbourne based on the confirmed results of 788 auctions while another 183 were not included in the data.

Only 30.8 per cent of auctions in Perth ended in a sale, according to confirmed data from 13 auctions in the city while the results for another 19 were not recorded. "There is a chance that this week's final clearance rate may just be able to hold above 60 per cent after Sydney has seen the final clearance rate sit above 55 per cent for the last 3 weeks," CoreLogic commented in its summary.

Unemployment rising will have an impact methinks...

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