Auction Activity “below average”

18 May Auction Activity “below average”

• Increased numbers about to come
• Sydney first to react positively
• Clearance rates strengthen

This week, 400 capital city homes were scheduled for auction, with preliminary results returning a 64.0 percent clearance rate.

Sydney, one of Australia’s largest auction markets, returned a preliminary clearance rate above 70%, suggesting the relaxation in social distancing policies specific to housing are having an immediate and positive impact on home auctions.

There were 193 auctions scheduled in Sydney this week, returning a preliminary clearance rate of 73.4 percent.

In Melbourne, 118 homes were scheduled to go under the hammer this week. At the time of recording the show, 93 auctions had been reported, returning a preliminary success rate of 60.2 percent.

As mentioned over the previous week, with restrictions easing across many states and territories, we will likely see the number of homes taken to auction increase in the coming weeks.

Get a full rundown of results in all the capitals.  Also a look inside the top sales in Sydney, Melbourne, Adelaide, Brisbane, Canberra and Perth.   Kevin Brogan joins Kevin Turner to present the latest results from Core Logic.