Market claws back some ground

Market claws back some ground

  • Clearance rises
  • 2 weeks now over 70%
  • Even more auctions this week

Last week

Last week, 1,415 homes were taken to auction across the combined capital cities returning a final auction clearance rate of 74.2 per cent, the highest clearance rate recorded since April 2017 and the second week in a row where the final clearance rate has held above 70.0 per cent.

This week and weekend

Auction volumes are set to increase across the combined capital cities this week with CoreLogic currently tracking just over 1,500 auctions, up from 1,415 last week. Over the same week last year 1,748 homes were taken to auction across the capitals.

Melbourne is expecting to see around 720 homes taken to auction this week, up from 662 last week, although lower than this time last year (805). Sydney is also set to host a higher volume of auctions week-on-week with 559 auctions scheduled, up from 503 last week although again lower than this time 12 months ago (664).

Across the smaller auction markets, Adelaide, Brisbane and Perth are expecting a rise in auction volumes week-on-week. Canberra will see a fall in auction volumes over the week, while in Tasmania, there is only 1 auction on the radar so far this week.

 

Watch for Kevin Brogan’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 in 6 capital cities.

 

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Kevin Turner
kevin@realestatetalk.com.au
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