Domain has released their preliminary auction results for today. Our initial take is that momentum in Melbourne is wilting fast, with results lower than Sydney, reversal of trends in recent months. That said ever larger volumes appear to be withdrawn prior to auction, a significant tell-tale sign.
Adelaide listed 54, reported 30 auctions and sold 23. 4 were withdrawn and Domain reported a clearance rate of 68%.
Brisbane listed 94, reported 50 auctions and sold 35. 6 were withdrawn and Domain reported a clearance rate of 63%.
Canberra listed 504, reported 47 auctions and sold 22. 0 were withdrawn and Domain reported a clearance rate of 47%.
