Sydney Leads Recovery

05 Jun Sydney Leads Recovery

Last week

The capital city final auction clearance rate came in at 61.3% last week, slightly lower than the week prior when 62.7% of properties sold at auction. The lower clearance rate was across a higher volume of auctions with 856 held, up on the 612 held over the week prior. Of the 738 results collected, 12% were withdrawn which was much lower than the 50% seen a few weeks ago. 37.2% of sold results this week reportedly sold prior to the scheduled auction date, well below the results from early April when more than 80% of successful auctions were sold before the event.

This week and weekend

The first week of winter is set to see 618 capital city homes taken to auction, down on the 856 auctions scheduled last week.  Due to the Queen’s birthday public holiday this Monday, all states and territories except Qld and WA are welcoming a long weekend, which usually contributes to lower activity over this weekend each year.

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 some top sales.