Auction Numbers Surge

02 Mar Auction Numbers Surge

• Higher volumes test the market
• Melbourne results – best in 17 months
• Sydney clearance tops the country

Auction markets are passing the test of higher volumes with strong results, with volumes reaching similar levels to those seen around the end of last year over the seasonal hype pre slowdown period when clearance rates were tracking around the mid 60% to low 70% range.

There were 2,933 capital city homes taken to auction this week, returning a preliminary auction clearance rate of 77.1%. This week’s volumes are higher than last week’s 2,517 auctions held, which returned an only slightly higher preliminary clearance rate (77.7%), later revising down to 72.7% at the final figure.

In Melbourne a preliminary auction clearance rate of 77.1% was recorded across 1,567 auctions this week; the busiest week for auctions Melbourne has seen since October 2018 (1,709).

There were 1,045 Sydney homes taken to auction this week, returning a preliminary auction clearance rate of 81.4%, which was the highest preliminary results across the capital city markets.

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.