- Market adjusts to online auctions
- Fewer properties withdrawn
This week, 590 capital city homes were scheduled for auction, with preliminary results returning a 59.6 per cent clearance rate. The previous week saw 413 homes scheduled for auction and a final clearance rate of 41.1 per cent with the lower volumes likely due to Anzac Day commemorations. One year ago, there were 1,479 homes taken to auction and a 52.5 per cent clearance rate.
It’s likely the number of scheduled auctions will remain substantially lower than normal, at least until social distancing policies are lifted and on-site auctions can resume. With fewer scheduled auctions, we are likely to see the withdrawn rate start to normalise which is likely to have a positive flow-on affect to the clearance rate. It has been dragged lower over the past month due to a surge in auction withdrawals which are counted as unsold in the clearance rate statistics.
Get a full rundown of results and a look inside some successful sales ‘under the hammer’ from the past week. Kevin Brogan joins Kevin Turner to present the latest results from CoreLogic.