Domain has released their latest preliminary auction clearance results for today. Momentum appears to be easing further, and the number of withdrawn properties is on the rise. More evidence of why home prices are falling.
In Sydney, of the 670 listed, there were 336 reported auctions, 91 withdrawn, and a preliminary clearance rate of 56%, already lower than last week’s final measure of 56.5%.
In Melbourne, 942 were listed, 740 auctions reported and 463 sold, at 60%, compared with 57% last week’s final rate. The result will fall lower.
Brisbane listed 72 properties. reported 38 auctions and just 19 sold, at a clearance rate of 48%. Adelaide listed 69, reported 34 and sold 21 at 54% – 5 were withdrawn. Canberra listed 63, reported 53, sold 34 and 4 were withdrawn, giving a Domain clearance rate of 60%.
In this video we discuss how the results are collated and whether they can be trusted.
