Auction Clearance Up, But Volumes Down

From CoreLogic.

This week 1,402 auctions were held across the combined capital cities, significantly lower than the 2,907 held last week and lower than one year ago (1,488). Four out of the eight states and territories have a public holiday this coming Monday which has been a key factor in the fall in auction volumes. The combined capital city clearance rate rose this week, up from 74.6 per cent last week to 80.8 per cent this week. The two largest auction markets, Melbourne and Sydney, saw their preliminary clearance rates rise, with Sydney at 83.1 per cent and Melbourne at 84.3 per cent, while the highest clearance rate was in Adelaide where 87.0 per cent of auctions cleared over the weekend.  One year ago, the combined capital city clearance rate was a lower 64.9 per cent.

Author: Martin North

Martin North is the Principal of Digital Finance Analytics

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