After trending upwards over the past three weeks, auction activity across the combined capitals dropped -11.7% this week, with 1,742 auctions held across the capitals. While down from the 1,973 auctions held last week, this week’s auction numbers are in line with the 1,734 auctions held two weeks ago and above the 1,471 auctions that occurred this time last year.

With 1,320 results collected so far, the combined capital’s preliminary clearance rate (71.0%) rose for the first time in three weeks, up 80 basis points compared to last week’s preliminary rate of 70.2% (revised to 64.9% at final numbers). Over the same week last year, a final clearance rate of 56.6% was reported.