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Housing auction clearance rate stays high

AAP logoAAP 31/10/2016

Buyers remain enthusiastic in Australia's capital-city housing markets, with the average auction clearance rate staying over 70 per cent for the fourteenth consecutive week.

Preliminary figures from CoreLogic on Monday show that the national average was 77.6 per cent, led by the booming Sydney market, where 84.4 per cent of auctions concluded with a sale.

All five mainland state capitals recorded weekly prices rises, averaging 0.6 per cent and led by Melbourne's 1.5 per cent gain, while the average annual rise was 7.5 per cent, led by Sydney's 10.5 per cent.

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