Auction numbers rose sharply across Australia last week, with the preliminary clearance rate slipping yet again to 64.6%.  

There were 2,847 homes taken to auction across the combined capital cities last week, up 38.3% compared to the 2,059 during the previous week, according to CoreLogic. 

The latest preliminary clearance rate, which was taken from the 2,228 auction results collected so far, fell for the fourth consecutive week. 

In Melbourne, 1,268 homes went to auction, up 40.1% from the previous week.  

Source: CoreLogic

Melbourne’s preliminary clearance rate was 64% from the 1,044 results collected so far, down from 64.6% during the previous week. 

Across Sydney, there were 934 auctions held last week, up 41.7% from the previous week. 

From the 738 results collected in Sydney to date, 61.1% of auctions held returned a successful result. 

CoreLogic Research Analyst Caitlin Fono said Sydney’s withdrawal rate remained high, with 22.1% of last week’s auctions being withdrawn from the market.   

Adelaide once again recorded both the highest preliminary clearance rate and the busiest auction week with 263 auctions returning a preliminary clearance rate of 78.8%.   

In Canberra, the preliminary clearance rate rose to 76% from 127 auctions, while Brisbane’s preliminary clearance rate fell to 60.3% of the 235 auctions held. 

Source: CoreLogic