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Australia\u2019s auction markets clocked their best results for a February week over the weekend.<\/p>\n
CoreLogic\u2019s latest auction report showed an auction volume of 3,384 across capital cities over the weekend, making it the busiest February week since records began in 2008.<\/p>\n
Among the homes that went to auction, 2,526 were detached houses while the remaining 858 were units.<\/p>\n
Last weekend\u2019s volume was higher than the activity during preceding weekend (2,898 homes) and over the same period last year (2,473 homes).<\/p>\n
Due to the higher number of homes up for grabs, the preliminary clearance rate eased slightly to 74.3%, from previous weekend\u2019s 74.6% and last year\u2019s 79.3%.<\/p>\n
Melbourne hosted 1,561 auctions over the weekend, the highest activity among all capital cities.<\/p>\n
The Victorian capital managed to beat its auction record over the previous weekend and during the same period last year in terms of volume.<\/p>\n
However, it followed the general easing trend in clearance rate.<\/p>\n
In Sydney, 1,209 homes went under the hammer. During the same period last year, only 844 homes were taken into auction in the city.<\/p>\n
Despite the higher volume, Sydney reported a higher week-on-week preliminary clearance rate at 76.9%, up from 75.6%.<\/p>\n
On an annual basis, however, Sydney\u2019s clearance rate pales in comparison to last year\u2019s 85.3%.<\/p>\n
In terms of success rates, Adelaide<\/a> was the best-performing city \u2014 85% of the 208 homes auctions over the weekend were sold successfully.<\/p>\n Adelaide was also the busiest market among the smaller cities.<\/p>\n \u2014<\/p>\n Photo by @ekaterina-bolovtsova on Pexels<\/p>\n<\/p><\/div>\n
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