24 May Auction numbers double as clearance climbs
- 8 month clearance rate record
- Almost 2,000 auctions this week
- Market confidence returns
Last week, the combined capital city final auction clearance rate surpassed the previous week as the highest final weighted average result since September 2018, with 55.2 per cent of homes reported as selling. The improved clearance rate however was across a lower volume of auctions over the week, with a subdued 930 homes auctioned as the Federal election hype took over the nation. The week prior saw 1,218 capital city auctions, 54 per cent which sold.
This week and weekend
This week, CoreLogic is currently tracking 1,933 capital city auctions, which is more than double the auctions held last week (930), coming off the back of election week.
Melbourne and Sydney are expected to see a higher volume of auctions this week, with 909 and 680 homes set to go under the hammer, up from last week’s final result of 432 and 276 auction’s held respectively.
Across the smaller markets, activity is expected to be higher week-on-week across all capital cities.
The number of properties scheduled for auction this week is set to be lower than final results from the same week last year when 2,297 auctions were held.
Watch for Geoff White’s thoughts about the weekend ahead and the numbers around the country and then join him on Monday as he gives the most comprehensive national roundup of the full week’s activity and a look inside the top sales.