The number of properties listed for auction rose significantly during the week ending 26 July amid signs of a recovery in the sector a new data showed.

According to rpdata.com, Sydney recorded a total of 354 properties listed for auction this week - a 29% increase from a week ago. Out of this, 173 properties were sold during auction, equating to a 69.2% clearance rate.

Melbourne saw a 17% increase to 458 properties listed for auction. Eager buyers snapped up 290 properties or 83.8% of the total offering.

Adelaide also saw a dramatic improvement in clearance rate at 78% or 25 out of 48 properties were sold during auction in the same period.

  Clearance rates for week ending 26 July
Sydney 69.20%
Melbourne 83.80%
Brisbane 53.20%
Adelaide 78.10%
Perth 27.30%
Canberra 71.40%
Tasmania 16.70%

Data provided by RP Data

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