Domain released their preliminary results for today. Volumes were slightly higher than last week, but still well down on a year ago. 593 auctions were listed, compared with 1,377 last year. So the quoted clearance rates really are meaningless for now.
Canberra listed 16 auctions, reported 15 and sold 11, with 4 passed in giving a Domain clearance of 73%.
Brisbane listed 23, reported 18 and sold 7, with 1 withdrawn and 11 passed in so giving a Domain clearance of 37%.
Adelaide listed 12 auctions, reported 8 and sold 3, with 5 passed in so giving a n/a result from Domain.
Domain released their preliminary results for today, on of course very low volumes. I suspect that might be under reported in the MSM relative to the clearance rates – a higher percentage perhaps but of a low number? 156 reported against 531 lat year at the same time.
Canberra listed 26 auctions, reported 16, sold 12 with 5 withdrawn and 4 passed in, giving a Domain clearance of 57%.
Brisbane listed 13 auctions, reported 7, sold 3 with 0 withdrawn and 4 passed in to give a Domain clearance of N/A.
Adelaide listed 10 auctions, reported 2, sold 1 with 2 withdrawn and 1 passed in (??) to give a Domain clearance of N/A.
Domain released their preliminary results for today. These results provide key insights into property market activity, based on a majority of sample auctions that take place every Saturday. Domain continues to collect results throughout the week.
The Domain auction clearance rate* is the percentage of properties successfully sold prior to, or at, an auction. The clearance rate is calculated by dividing auction sales by the number of reported auctions, including those withdrawn or postponed.
*The number of auctions withdrawn is unusually high at the moment due to the temporary ban on holding onsite auction gatherings. A withdrawn auction is counted as unsold, which will pull down the clearance rate.
Canberra listed 29 auctions, reported 16 sold 14 with 8 withdrawn and 2 passed in to give 58% Domain clearance.
Brisbane listed 67 auctions,reported 28 and sold 13 with 23 withdrawn and 15 passed to give 25% Domain clearance.
Adelaide listed 17 auctions, reported 5 and sold 5 with 7 withdrawn and 0 passed in to give 42% Domain clearance.
I would add some of the reported sales appear to be from an earlier date!
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%.
Domain released their preliminary results for today – actually most results from the past two weeks, not much today as the economic freeze continues.
The data clearly shows a slowing. Expect more drops ahead – especially if we are forced to follow the draconian UK measures to stop property transactions.
Canberra listed 66 auctions, reported 31 with 20 withdrawn and 7 passed in, giving a Domain clearance of 47%.
Brisbane listed 131 auctions, reported 23 with 18 sold and 67 withdrawn with 5 passed in to give a Domain clearance of 20%.
Adelaide listed 68 auctions, reported 15 with 13 sold with 51 withdrawn and 2 passed in giving a Domain clearance of 20%.
Mark you diary. This just might be last results for some time. I attended (socially distanced) three house auctions today. Not one buyer turned up for any of them and the auctioneer went away tail between legs. These were premium properties which a few days ago I think would have sold.
That said, Domain released their preliminary results for today. The numbers sold appear down a bit (despite the media hype I noted saying there was frenzied buying parallel to toilet paper!). There were more listed for sale than last week.
Sydney listed 776 auctions, reported on 495, with 388 sold, 107 withdrawn and 107 passed in (weird coincidence) This gives a Domain clearance of 64%. [Last week final was 67%]
Melbourne listed 1,184 auctions, reported on 827 with 537 sold, 46 withdrawn and 290 passed in to give a Domain clearance of 62%. [Last week’s final was 65.2%]
Canberra listed 56 auctions, reported 38 and sold 26, with 2 withdrawn and 12 passed in, giving a Domain clearance of 65%.
Brisbane listed 95 auctions, reported 37 and sold 18, with 9 withdrawn and 19 passed in giving a Domain clearance of 39%.
Adelaide listed 47 auctions, reported 28 with 19 sold, 1 withdrawn and 9 passed in to give a Domain clearance of 66%.
The results today are pretty strong compared with a year ago, so the virus has yet to hit (but Melbourne is stronger following last weeks long weekend).
Canberra listed 51 auctions, reported 30 and sold 23, with 1 withdrawn and 7 passed in to give a Domain clearance of 74%
Brisbane listed 74 auctions, reported 38 and sold 26 with 6 withdrawn and 12 passed in to give a Domain clearance of 59%.
Adelaide listed 62 auctions, reported 40 results with 27 sold, 3 with drawn and 13 passed in to give a Domain clearance of 63%.
