Auction Results – Is That A Wobble?

The preliminary auction clearance results from Domain, for today, on first blush looks strong, but below the surface, volumes were down.

Sydney clearance rates were at 82.9%, compared with 75.1% last week, and 69.5% a year ago. But the number of auctions were down, 458, compared with 597 last week and 502 this week last year.

In Melbourne (over a long weekend) clearances were 79.2%, compared with 78.3% last week and 67.4% this time last week. However, reported auctions were 152, compared with 1,071 last week and 316 last year.

Nationally, the clearance rate was 79.2%, compared with 75% last week and 65.7% last year. But reported auctions were just 700 compared with 1,915 last week and 958 last year.

Brisbane scheduled 113 auctions and achieved 52% clearance, Adelaide 56 scheduled auctions with a clearance of 66% and Canberra 22 auctions with 77% clearance.

So overall a mixed picture. Lets see if volume comes back next week, of whether this is a sign of some slowing in momentum.

Author: Martin North

Martin North is the Principal of Digital Finance Analytics

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