21 Nov

• Sydney clearance rebounds
• Withdraws remain high
• Activity tipped to rise again

With auction activity trending upwards for the second week, the combined capitals hosted 2,266 auctions this week – the busiest week since late June.

With 1,790 results collected so far, the combined capital’s preliminary clearance rate rose three percentage points, with 63.1% of auctions returning a successful result. 

Despite the rebound in the preliminary rate, Sydney recorded the highest withdrawal rate since mid-September (20.8%), but the portion of properties passed in at auction fell to its lowest rate of the year (11.8%). 

Auction activity is set to rise as we approach the peak in seasonal activity, with around 2,450 auctions scheduled to be held. Close to 1,000 auctions are scheduled for both Sydney and Melbourne next week, providing a timely test of the market’s depth of demand.

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