More homes sold at auction in Sydney than Melbourne this year: RP Data's national auction wrap

A preliminary weighted average clearance rate of 63.7% was recorded this week across capital cities compared to 68.7% last week and 68.3% this time last year.

It is interesting to note that due to an increase in the popularity of auctions more homes have been sold in Sydney at auction this year than Melbourne. This is the first time this has occurred. After this week there have been 24,590 auction sales in Sydney and 24,336 in Melbourne.

In Sydney market a preliminary clearance rate of 69% recorded compared to 75.6% last week and 76% last year. After a fortnight of mild improvement the ongoing high volumes are clearly having an impact with a lower clearance rate this week.

In Melbourne there was a preliminary clearance rate of 63.8% recorded compared to 69.6% last week and 68.1% this time last year. The market is shifting in favor of buyers at the right time of the year with a high volume of auctions expected between now and Christmas.

In Brisbane a preliminary clearance rate of 45% was recorded compared to 45.3% last week.

Adelaide recorded a clearance rate of 61.3% compared to 57.4% last week.

In Canberra a clearance rate of 50.6% was recorded.

In Perth a clearance rate of 56.3% was recorded.