Adelaide’s preliminary auction clearance rate was the third-highest in the nation in mid-February, according to data from CoreLogic.
In the week to February 19, Adelaide’s preliminary auction clearance rate was 67.3%, up from the rate of 65.8% last year.
Sydney’s preliminary clearance rate was the highest at 74.3%, a marked increase on the 50% range seen in the last quarter of 2017.
Melbourne was the second-highest at 70.7%, making it the first week in some time that Sydney has had more successful auctions than Melbourne.
Adelaide was followed by Canberra (62.9%), Brisbane (48.9%), Perth (22.2%) and Tasmania (12.5%). The weighted national average was 69.1%, down from 74.9% last year.
“While auction activity has increased over the last couple of weeks coming out of the slowdown, volumes are increasing at a slower pace than what was seen over the equivalent period last year (2,291),” wrote CoreLogic’s Kevin Brogan.
Brogan also noted that auction volumes were returning to normal after the festive period slowdown and that overall rates were holding higher than in late 2017.