Clearance Rates Fall as Expected

  • Sellers continue to withdraw
  • Vendor discounting spreads nationwide
  • Hobart ‘time to sell’ lowest nationwide 

Last week
Preliminary auction clearance rate drops below 30% over the Easter long weekend as withdrawn auctions rise to comprise 57% of all reported results
This week and weekend
This week despite ongoing restrictions around on-site auctions and inspections amid COVID-19, the number of homes scheduled to go to auction is set to rise across the combined capital cities with 1,552 currently being tracked by CoreLogic. While this is up from last week when only 634 auctions were scheduled over the Easter period slowdown, it’s expected we may continue to see a significant proportion of these withdrawn from the market or converted to private treaty sale method as we’ve noted over the last few weeks.
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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