Clearance rate rises W.O.W.

Clearance rate rises W.O.W.

  • Big result from busiest week this year
  • Numbers begin to decline
  • We look inside a beautiful Sydney home for auction tomorrow

Last week

Last week, 3,206 homes were taken to auction across the combined capital cities; the busiest week for auctions we’ve had this year. The higher volumes saw the final clearance rate rise with 73.6 per cent of homes selling at auction, after last week’s final clearance rate dropped below 70 per cent across a lower volume of auctions (68.5 per cent, 2,612 auctions).  In comparison, this time last year, 2,749 homes went to auction and a clearance rate of 41.3 per cent was recorded.

This week and weekend

The combined capital cities are expected to see a lower volume of auctions take place this week with CoreLogic currently tracking 2,628 auctions, down from 3,206 last week and similar to the 2,631 last year.

There are 1,352 Melbourne homes scheduled for auction this week, lower than last week’s final figures (1,533), however higher than volumes from one year ago (1,283).

In Sydney, 891 homes are currently scheduled for auction this week, down from 1,221 last week and higher than the same week last year when 870 auctions were held.

Across the smaller auction markets, scheduled volumes are set to be lower week-on-week across all cities except Adelaide where there is one additional auction compared to last week.

Watch for our thoughts about the weekend ahead and the numbers around the country and then join us on Monday as we give the most comprehensive national roundup of the full week’s activity and a look inside the top sales in 6 capital cities.

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Kevin Turner
kevin@realestatetalk.com.au
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