12 Dec

• Busy auction landscape

• Slow auction clearance

At a time when the market normally gathers momentum in a final push to the end of the year, the reverse is happening.  Choice for buyers remains high with a 5.1% increase on the previous week, but their motivation is not meeting demand.   

Core Logic this morning is reporting the preliminary capital city clearance rate has dipped to its lowest level (57.9%) since late July 24 this year, on the back of what was the busiest auction week (2,667) since late May.

Of the 2,024 results collected so far, 57.9% were successful, the lowest preliminary clearance rate since the week ending 24th July.

At this stage, Core Logic is expecting to see around 2,300 homes taken to auction across the combined capital cities this week, before the seasonal slowdown kicks in……if it hasn’t already!

Watch a comprehensive wrap on the week’s national auction activity around Australia with Eliza Owen from CoreLogic.   Auction Update is seen exclusively on Realty Talk.  See all our shows at Realty.com.au