Is the heat coming out of Melbourne?

by AB26 Aug 2015
While Australia’s national clearance rate remained relatively steady last week, early figures point to Melbourne’s worst week in months.

Figures from CoreLogic RP Data put the preliminary combined capital city clearance rate at 74.1% for last week, which puts it close to the previous week’s result of 74.6%.

The news wasn’t so good for Melbourne, with the preliminary clearance rate of 73% the lowest seen in the Victorian capital since mid-February.

The hardest hit area of the city was the Inner Melbourne sub-region, which with a preliminary clearance rate of 69.5% was the only sub region not to crack the 70% mark.

Sydney on the other hand had a much better week, with its preliminary result of 79.9% higher than the previous week’s final result of 77.3%.

Based on preliminary results, Central Coast was the strongest Sydney sub-region for the week with a 90.9% preliminary clearance rate.

Adelaide also looks to have had a week-on-week improvement, with a preliminary result of 74.2% last week after a final result of 68.1% the previous week.

Perth also looks to have had a good week, with its preliminary result coming in at 37.5% compared to last week’s 30.4%.

Despite a small decrease from 72.1% to 71.1% last week, there are still good signs for Canberra as it marks its fourth straight week with a clearance rate above 70%.

Brisbane looks like its clearance rate took a hit last week, with the preliminary result of 54.8% lowere than the previous week’s final result.

Out of six reported auctions in Tasmania there were four sales.