Canberra's clearance rate strong as Sydney and Melbourne drop

Canberra has recorded one of its strongest auction results of the year with preliminary* data showing a clearance rate of 76 per cent from last Saturday’s auctions.

This comes after clearance rates dropped nationwide over the weekend, with Sydney and Melbourne leading the drop.

Domain data shows the national clearance rate was 59.8 per cent, with a clearance rate of only 56.4 per cent in Sydney and 61.2 per cent in Melbourne.

Canberra’s clearance rate of 76 per cent is one of the highest of 2018. A clearance rate of 77 per cent was recorded on Saturday, March 10 – the Canberra Day long weekend.

Both weekends had a lower than average number of scheduled auctions.

On the Canberra regional level, Belconnen’s performance was the strongest, with available data showing a clearance rate of 100 per cent in the region.

The Inner North area had the highest number of auctions at 13, with all but one passing in.

Gungahlin was the only region to have a greater number of properties passed in, only one out of five sold under the hammer.

There were 11 properties that sold before auction included in the data.

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Canberra’s highest sale over the weekend was at 10 Ferdinand Street, Campbell, for $1.65 million.

The four-bedroom, two-bathroom Campbell home has undergone significant renovations, including the addition of a second storey.

Situated on an 928-square metre block, the home’s elevated position provides views across the Canberra region.

Canberra’s most affordable sale at auction over the weekend was recorded at 8 Eaglemont Retreat, Conder.

The three-bedroom, one-bathroom duplex features an open-plan living area and is set among a nature reserve.

Canberra’s overall clearance rate has been declining year on year. Data from April 2018 saw auctions recording a 6.8 per cent drop in the monthly clearance rate to 60 per cent.

*Data is subject to change as not all auction results have been made available as of Tuesday, May 15.