24 Apr Market continues to slow
- Seller discounting increases
- Listing numbers fall by 30%
- Auction numbers fall further
Last week, a total of 1,922 homes were scheduled to go to auction across the combined capital cities, returning a final auction clearance rate of 30.2%; once again surpassing the previous week as the lowest on record for CoreLogic. Of the 440 properties reported as being sold across the capital cities, 60.9% sold prior to the scheduled auction date and of the 1,444 results collected more than half were withdrawn (56%).
This week and weekend
The number of homes scheduled for auction this week takes a dive, with only 314 properties scheduled for auction across the combined capital cities. The lower volumes this week can likely be attributed to Anzac day this weekend taking precedence on Saturday, a day that is usually the auction markets busiest day. There is also the expectation that as the week’s progress auctions scheduled pre-restrictions will be less evident and vendors serious about taking their property to auction in more challenging conditions will be significantly less.
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.