Domain released their preliminary results for today.
Of course the situation is far from normal, and the clearance rates are very low, and some results appear to be a couple of weeks old! Domains models are broken as their scale stops at 40%. We are looking at around 34% clearance rates, which are probably overstated. This is significantly down on this time last year.
They note “the number of auctions withdrawn is unusually high at the moment due to the temporary ban on holding onsite auction gatherings. A withdrawn auction is counted as unsold, which will pull down the clearance rate”.
Canberra listed 66 auctions, reported 32 with 20 withdrawn and 25 sold. 7 were passed in giving a Domain clearance of 48%.
Brisbane listed 133 auctions, reported 26 with 21 sold and 67 withdrawn and 5 passed in to give a Domain clearance of 23%.
Adelaide listed 68 auctions, reported 15 with 13 sold and 51 withdrawn and 2 passed in to give a Domain clearance of 20%.
