The combined capital city preliminary auction clearance rate weakened slightly as volumes rose. There were 2,976 capital city homes taken to auction over the week, revising down from initially predicted volumes by 2% as the Sydney COVID outbreak grew resulting in four Sydney LGA’s going into lockdown. Of the 2,417 results collected so far, equating to a preliminary collection rate of 81.2%, 77.5% were sold. Last week, a lower 2,400 auctions were held across the combined capitals with a preliminary auction clearance rate of 77.8%, later revising down to a final auction clearance rate of 74.1%.
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