The combined capital cities had 1,813 homes taken to auction in the week ending 8 April, with a preliminary clearance rate of 65.3%, according to the CoreLogic Property Market Indicator Summary.
Both the number of homes auctioned and the expected clearance rate were significantly lower than a year ago, when 3,517 homes were auctioned and 74.8% cleared.
Sydney auction results
There were 775 homes auctioned across Sydney, with a preliminary clearance rate of 67.1%, compared with 1,436 homes and a clearance rate of 77.7% in the same week last year.
Sydney home values
Weekly – Prices decreased by -0.1% from the previous week.
Monthly – Prices decreased by -0.2% over the past 28 days.
Year to date – In the year to date, prices have dropped -1.9%.
12 months – Prices have decreased by -2.6% over the past 12 months.
Melbourne auction results
There were 720 homes auctioned across Melbourne, with a preliminary clearance rate of 69.6%, compared with 1,488 auctions and a clearance rate of 79.3% in the same week last year.
Melbourne home values
Weekly – There was 0% weekly change from the previous week.
Monthly – Prices decreased by -0.3% over the past 28 days.
Year to date – In the year to date, prices have dropped by -0.5%.
12 months – Over the past 12 months, prices have increased by 4.9%.
CoreLogic’s report notes that private treaty sales represent 85% of all dwelling sales across the country.